Ardian won an auction for buying a portfolio of private equity funds stakes owned by HVB, the German unit of Italian Unicredit group. The news was not confirmed by both HVB and Ardian.
More asnd more financial institutions in the last few years have sold private-equity stakes as they exit businesses that aren’t central to their strategy in order to strengthen balance sheets and meet regulatory requirements. And this is not the first time HVB sells private equity funds stakes of its portfolio. Last December the bank also announced a spin-off of its private equity business to form SwanCap Partners GmbH (see here the press release).
Secondary buyer AlpInvest Partners BV, owned by the Carlyle Group, helped structure a deal that involved purchasing fund stakes from HVB and providing about $450 million in capital for new investments for a total value of the new fund called SwanCap Opportunities Fund SCS-SIF of 1.2 billion euros.
