state California Provident Dash state California

Private fund investors flood secondary markets in dash for cash

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The start of this year brought a glut of assets for sale on the secondary market by institutional investors facing a growing need for cash, but so far buyers have been slow to bite.Secondary buyers and bankers that broker such deals estimate that as much as $18bn of private equity fund stakes have been offered for sale so far this year.

The glut includes $6bn of holdings being shopped by non-profit healthcare provider and insurer Kaiser Permanente in Oakland, California, which if sold in its entirety would be among the largest...

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