Ontario Teachers’ Pension Plan weighs $1.5 billion sale of private equity stakes
Ontario Teachers’ Pension Plan is exploring the sale of a US$1.5 billion portfolio of private equity fund stakes in the secondary market to free up cash for other investments, according to people familiar with the matter.
The pension fund is working with advisers at Jefferies Financial Group Inc. on soliciting buyer interest in the portfolio, the people said, asking not to be identified discussing private details. Talks are at an early stage, one of the people said.
Spokespeople for Jefferies and Ontario Teachers’ declined to comment.
The pension fund — which manages $255.8 billion — owned $58.5 billion of private equity assets as of June 30. The asset class returned 3.6 per cent last year, below the benchmark of 16.3 per cent.
Private equity secondaries transactions have increased as investors — known as limited partners — hunt for liquidity in a slow dealmaking environment. Portfolio sales by limited partners increased to US$60 billion last year from US$53 billion in 2022, according to a PJT Partners Inc. report.
Bloomberg.com
Read more on financialpost.com
