CDP Capital – Private Equity Group, the asset manager responsible for the private equity portfolio of Caisse de dépôt et placement du Québec, is planning to sell a USD 800 million portfolio of private equity fund stakes on the secondary market. Although it is unknown exactly which private equity fund interests the asset manager is looking to sell, the portfolio reportedly consists of buyout and venture funds.
CDP Capital – Private Equity Group has previously used the secondary market to exit private equity funds. In 2004 it sold off a number of private equity fund interests in order to rebalance its portfolio. At the end of 2009 it brought another private equity portfolio to the secondary market. It was offering potential buyers CAD 1-2 billion in private equity commitments, with approximately half of them drawn down, but it decided to cancel the sale at the beginning of the year.
Preqin’s Secondary Market Monitor currently includes profiles for over 210 potential private equity secondary market sellers, with 14% of them looking to sell either private equity or private equity real estate fund stakes immediately and a further 64% expecting to do so within the next 12 months.