Coller Capital has successfully acquired Lloyds Banking Group’s private equity portfolio, the sale of which was managed by Campbell Lutyens. The portfolio, which is said to be worth £800mn, contains exposure to European investment funds, including those managed by Apax Partners, Arle Capital Partners, and Exponent Private Equity. The sale is the latest by Lloyds, which has sold interests in the past two years in an effort to free up capital, including approximately £470mn of limited partnership interests to Lexington Partners in December 2010.
The transaction is just one of a number of secondary sales completed in the past month. French private equity fund of funds manager AXA Private Equity bought a portfolio of mainly North American and private equity fund interests from Ontario Municipal Employees Retirement System (OMERS) in a transaction worth $850mn. Listed private equity fund of funds manager Conversus Asset Management sold its entire private equity fund portfolio and direct co-investment interests to private equity fund of funds manager HarbourVest Partners in a transaction worth $1.4bn. Italian insurance company Assicurazioni Generali also sold a portfolio of private equity fund interests to secondary fund of funds manager Lexington Partners.