Secondaries Seeing a Rebound
After a surprisingly sluggish 2009, secondary dealmaking is on the rise. The latest deal comes from Bank of America, which reportedly is selling $1.2 billion of commitments made to various Warburg Pincus funds. Around half of it will go to Lexington Partners and China Investment Corp. This comes just a couple of months after BoA sold a $1.9 billion portfolio of PE fund interests to the secondary arm of AXA Private Equity. Earlier this month, Citigroup agreed to sell $900 million of PE interests to Lexington Partners, while RBS reportedly is close to selling a $500 million portfolio to Alpinvest.
22 July 2010•2 mins read
