Uniqa sells private equity portfolio

The unnamed buyers are specialists in the secondaries market as well as institutional investors. The portfolio holds commitments worth €400m, consisting of 54 funds with commitments in European and North American vehicles.

The sale of the direct fund interests, secondary funds and funds-of-funds comes as part of the firm's new derisking strategy, introduced by the new management in 2011.

Rumours about the firm's plans to offload its portfolio began surfacing in June this year, ahead of upcoming regulations such as Solvency II.

Uniqa is listed on the stock market and is based in Vienna. Andreas Brandstetter isthe firm's CEO.

Campbell Lutyens acted as financial adviser while Skadden Arps Slate Meagher & Flom and PHHV advised on legal matters.

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• Topics
• DACH
• Secondaries
• Austria
• LP interest secondary