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PSP Investments Plans $2 Billion Private Equity Stakes Sale

  • Portfolio includes stakes in Blackstone and CVC funds
  • Canada-based PSP manages $174 billion for police, military
Blackstone Headquarters Ahead Of Earnings Figures
Photographer: Angus Mordant/Bloomberg
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Canadian pension manager PSP Investments is trying to sell around $2 billion of private equity fund stakes, one of the largest such deals to enter the fast growing secondaries market.

The C$230.5 billion ($174 billion) manager, which looks after the retirement pots of the Canadian military and Royal Canadian Mounted Police, is seeking to rebalance its portfolio of buyout fund holdings and has approached secondaries fund investors to pitch for them, according to a person familiar with the transaction who asked not to be identified as the deal is confidential.