Funds of funds

China's CIC is the latest institution to consider offloading a sizeable private equity portfolio. Plus: Why US managers shouldn't count their chickens despite a regulatory shake up; and TPG adds to its PE leadership. Here's today's brief, for our valued subscribers only.

Some investors are scrutinising LP bases to ascertain whether managers will face increased pressure to deploy an excessive amount of capital beyond their original fund size.

The passive index investing-focused firm gives investors exposure to the largest private equity funds in market on an annual vintage basis.

The firm is allocating about 25% of its co-investment strategy to Asia opportunities, head of APAC Sean Yoo tells Private Equity International.

The Paris-based manager is set to be back in the market with its sophomore secondaries fund in early 2025, following closes for its flagship and emerging manager funds.

NIIF is seeking $1bn for its sophomore fund of funds and plans to expand its private markets business with dedicated secondaries vehicles, managing partner Anand Unnikrishnan tells PEI.

The firm has appointed Michael Hu, a former managing director at Ardian, to lead its regional investment and business development activities from its new office in Singapore.

Besides private credit, LUCA 1.0 is also in talks to introduce private equity secondaries, fund of venture capital funds and a private markets sports fund, chief executive Keiko Sydenham tells PEI.

The VC unit will consider re-opening JP Fund I to test international appetites before launching its second Japanese fund of funds later this year, PEI understands.

Some of Flexstone’s clients are expected to raise their Asia-Pacific allocations from 10% to 15-20%, Eric Deram, managing partner at Flexstone Partners, told PEI.