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The deal, advised on by Rede Partners, is understood to be worth between €250m and €300m.
The placement agent has had a strategic alliance with Boston-based Mozaic since 2015.
The new vehicle will house Onex’s stake in global tax services and software provider Ryan, Secondaries Investor has learned.
The deal, which has been in market since at least earlier this year, is separate from the widely reported 'strip sale' Tiger has been running to sell stakes in direct assets.
The deal would be highly customised, targeting specific assets rather than a broad-based tender of LP interests across older funds.
More LPs in Asia-Pacific are willing to cash out in a sponsor-initiated process to accelerate distributions than their North America and European counterparts.
DACH-focused B2B software investor Maguar Capital moved human capital management software provider HRworks into a separate vehicle.
The transaction, which is understood to have been oversubscribed, moves Calera Capital’s US healthcare laundry service company ImageFIRST into a separate vehicle.
The process is understood to have also involved Charterhouse's latest fund in market acquiring a portion of pharmaceutical group SERB.
The firm's quick deployment and return to market has created 'some difficulties' regarding LP capacity, according to chief executive and CIO Benoît Durteste.