NYC Pensions Said to Weigh Sale of Private-Equity Holdings
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New York City’s pension plans may unload a $2 billion portfolio of buyout funds to trim their private-equity relationships, said two people with knowledge of the plan.
At least one of the five pension plans is weighing whether to sell stakes managed by Clayton, Dubilier & Rice LLC and Silver Lake Management LLC, said the people, who requested anonymity because investment decisions are confidential. Details about which holdings will be sold and what price would be acceptable are still being worked out, according to the people.