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Blackstone, KKR, CVC curbed by China’s IPO clampdown

Private Equity Wire

The difficulties in exiting investments have made some institutional investors, including pension funds, more cautious about allocating capital to the region. As a result, buyout groups have sought alternative exit routes, such as selling stakes to domestic or multinational firms or other private equity groups.

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PE rethinks NAV loans as investors push back

Private Equity Wire

Buyout firms have long relied on controversial loans backed by equity stakes to enhance fund returns, but growing investor criticism has triggered a slowdown, according to a report by Bloomberg UK. Many firms borrowed against their portfolio companies to sustain the private market boom while dealmaking dwindled.

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Wealthy Families Fuel $20bn Private Equity Buyout Wave

Private Equity Insights

Ultra-rich individuals and families worth more than $150bn are helping drive a resurgence in private equity buyouts, providing capital for some of the year’s biggest acquisitions to overcome a tough dealmaking environment. ASA in January with funding from Denmark’s Kirk Kristiansen dynasty, the owners of Lego Group.

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PSP and OTPP Selling $1 Billion-Plus PE Stakes

Pension Pulse

Chris Witkowsky of Buyouts reports Canadian giant PSP Investments shops $1 billion-plus portfolio: PSP investments is shopping a large portfolio of fund stakes that could total up to around $1.5 billion, according to sources and confirmed by the pension system in a statement to Buyouts.

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EQT & German Tycoon Buy €1bn Stake in Greyhound Owner Flix

Private Equity Insights

Buyout firm EQT AB is teaming up with Germany’s richest man to acquire a 35% stake in German bus and train operator Flix SE. Switzerland-based Kühne Holding owns a majority stake in Kühne+Nagel International AG and is the largest single shareholder of Hapag-Lloyd AG, Deutsche Lufthansa AG and Brenntag SE.

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Ardian raises $20bn for secondary fund targeting stakes in buyout funds

Private Equity Wire

The report cites unnamed sources familiar with the matter as saying that Paris-based Ardian, which has around $150 billion under management, is ultimately targeting $25 billion for the new fund.

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Secondary sales of PE stakes to hit record levels

Private Equity Wire

The market for secondary sales of private equity (PE) stakes is experiencing unprecedented activity this year as investors look to exit ageing assets due to a cash crunch and a slowdown in dealmaking, according to a report by the Financial Times.

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