LP Sales

The sheer scale of GP-led secondaries is enormous. But with turnover still marginal, the LP side is also poised for exponential growth.

LP portfolio sales fell to account for around half of total deal volume last year as GP-led processes surged.

The deal is leading off a year that many secondary market players expect to be particularly busy with not only GP-led transactions like restructurings but also large, traditional LP portfolio sales.

The appointment comes at a time when many advisors are focusing on GP-led transactions.

CIO Jim Grossman told the $63bn pension's board that staff would focus on slower private equity pacing to reduce its allocation for now.

The Carlyle subsidiary has hit the hard-cap on ASP VII and raised $1.2bn for co-investments, with support of LPs such as the California Public Employees' Retirement System.

In the wake of multiple key departures from the market's biggest advisor, the future of the multi-billion LP portfolio market is up for grabs.

The $56bn US pension will continue to look to the secondaries market to sell certain non-core holdings, CIO James Grossman has said.

Canada Pension Plan Investment Board's recent transaction shows that even at a time of considerable economic uncertainty, big, diversified portfolios can sell – and at a good price.

The Canadian pension giant is understood to have sold chunks of the portfolio, worth as much as $2.5bn in total, to separate buyers.