The sovereign wealth fund has reportedly tapped Evercore to assist in trimming its maturing portfolio.
CEO Michael Arougheti expects more institutional credit portfolios to come to market over the next two years as investors reposition their holdings.
The strategy, anchored by a Korean institutional investor, has adopted an evergreen semi-liquid structure aimed at capturing emerging credit secondary opportunities throughout the cycle.
The potential deal is reportedly comprised mostly of LP stakes in Asian private equity funds, including vehicles managed by EQT, TPG Asia, and KKR.
PJT has reportedly been selected to advise on trimming the sovereign wealth fund's portfolio.
Singapore's SWF is reportedly marketing PE fund interests managed by firms including EQT, TPG Asia and KKR, with PJT Partners advising.
The secondary sales of China-focused PE fund interests were reportedly put on hold after buyer valuations failed to meet expectations.
The portfolio sale to a JV between Arrow Global and Fortress Investment Group is expected to generate roughly C$1 billion in net proceeds to the pension.
The National Pension Service of Korea and Townsend Holdings have also increased their ownership in the Australian alternative asset manager.
The process, comprising mostly of China-focused interests, is linked to several managers, including HSG, Warburg Pincus, and Boyu Capital Investment Management.
