Three Australian superannuation schemes and government organisations have sold their stakes in EQT V, Private Equity International sister-publication Secondaries Investor has reported citing UK regulatory notices.
The sellers include the Emergency Services Superannuation Scheme and the Transport Accident Commission and the Victorian Workcover Authority.
EQT V is a 2006-vintage fund that raised €4.25 billion, according to PEI’s Research and Analytics division. The fund is fully invested in nine companies with strong market positions in Denmark, Finland, Germany, Norway, Poland and Sweden, according to EQT’s website.
Portfolio companies include Bulgarian cable operator Blizoo and Norwegian sporting goods retailer XXL Sport & Villmark. The fund made its last investment in February 2012, purchasing Norwegian telecom operator Broadnet. EQT was unavailable to comment by press time.
Two other limited partners have sold their stakes in EQT V during the last three months. NKB Investments, a Limassol, Cyrpus-based investment firm, sold its stake to Hermitage & Co. and Saudi Arabian trade and industrial conglomerate Rashed Abdul Rahman Al Rashed & Sons Group sold its stake to Zurich-based family office Moonstone Investments. Earlier this month the three Australian LPs also sold their stakes in Actis Emerging Markets 3 – a $2.9 billion 2008-vintage fund.
The LPs were unavailable to comment on the secondaries transactions by press time but both stakes were sold to UBAR Investment Holdings and PEC Lawson Holdings.UBAR Investment Holdings is reportedly a subsidiary of Goldman Sachs Asset Management and little is known about PEC Lawson Holdings, which is listed as a Delaware corporation.