The University of California’s investment office has sold around $1bn of private equity interests to secondaries specialist HarbourVest Partners, providing another sizeable transaction for a market that has seen discounts widen amid renewed pressure on private assets, according to a report by Bloomberg.
The report cites unnamed people familiar with the matter as reeling that UC Investments, which oversees roughly $190bn across retirement, endowment and cash portfolios, began the sale process ear...
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