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PING AN Plans to Sell Fund Stakes to Reduce Investment in Software Sector: Wire
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PING AN (02318.HK) is seeking to sell its holdings in certain funds to reduce its private equity investments in the software sector, Bloomberg quoted sources as saying. The Group has tapped Campbell Lutyens to sell stakes valued at approx. US$1 billion, with the process having commenced in March, the report added. The portfolio mainly comprises two software-focused funds managed by Vista Equity Partners, which primarily invested in North America. Furthermore, there is also another North America-focused fund managed by KKR & Co.. Auto-translated by AI AASTOCKS Financial News |
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