Private equity manager Ardian has acquired a portfolio of limited partnership interests in private equity funds totaling $1.3 billion from GE Capital, said Ardian spokeswoman Emma Murphy.
Terms of the deal have not been disclosed, Ms. Murphy said. It is the first secondary private equity transaction for the firm since announcing its latest $10 billion in fundraising.
The $10 billion is made up of $9 billion from ASF VI, the firm's secondary private equity fund of funds, as well as $1 billion in primary commitments. Among the investors in ASF VI is the $177.9 billion Florida State Board of Administration, Tallahassee.
GE Capital spokesman Seth Martin did not immediately return a phone call seeking further information.
