CEO Michael Arougheti expects more institutional credit portfolios to come to market over the next two years as investors reposition their holdings.
The firm's flagship Cox Retail Secondaries Fund I is offering to purchase up to $2.5 million of Variant Alternative Income Fund shares at a 40% discount to October 26 NAV.
The FTSE 250-listed private equity fund is selling partial interests in five Oakley funds at a 5.75% discount to their March 31 carrying value.
The secondary transaction reportedly involved investments alongside several major private equity sponsors, with the seller retaining a portion of the assets.
Drawing on proprietary SecondaryLink and EvergreenLink data, the Institute for Private Capital explores the drivers behind buyout fund discounts and pricing trends over the past decade.
The UK accountancy group is reportedly valued at more than £1 billion, with Penta retaining management of the asset after abandoning an earlier sale.
