Goldman Sachs Asset Management and Ardian have purchased a $1bn portfolio of US private equity interests from China Investment Corp. (CIC), in a secondary market transaction involving the sovereign wealth fund’s efforts to reduce exposure to illiquid assets, according to a report by Bloomberg.
The deal, which was completed late last year, saw Ardian acquire its portion of the assets at a double-digit discount, while Goldman Sachs secured its allocation at a lower single-digit discount, according...
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