Electra picks up secondaries stakes

Electra has invested about £94 million in secondaries through its EP1 Secondary Portfolio that is 60 percent focused on the US and 70 percent aimed at buyout funds.

Electra Partners, which manages the portfolio of London-listed Electra Private Equity, has acquired interests in two private equity funds at a discount to net asset value (NAV) as part of its secondaries platform, Secondaries Investor reports. 

The private equity firm acquired the stakes for £7 million ($10 million; €9 million), according to a statement.

“These latest secondary fund purchases show how we are continuing to make use of our flexible investment strategy to deploy Electra’s capital in attractive new assets,” Chris Hanna, a partner at Electra who works on the firm’s secondaries portfolio, said in the statement. 

The two funds are cash generative and have mature underlying assets.

Read more by visiting http://www.secondariesinvestor.com.