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 potential deal is reportedly comprised mostly of LP stakes in Asian private equity funds, including vehicles managed by EQT, TPG Asia, and KKR.
The unsolicited bid comes just three days after Blue Owl Credit Income Corp. disclosed 16.8% in Q3 redemption requests.
After an unsuccessful first attempt, Cox has come back to the table with an unsolicited bid valuing Class I shares at ~13% below their August 31 NAV.
Cox Capital Retail Secondaries Fund I is seeking up to $40 million of BCRED and HLEND at discounts to NAV of 12.5% and 17.5%, respectively.
PJT has reportedly been selected to advise on trimming the sovereign wealth fund's portfolio.
The LP interests were reportedly priced at a discount of more than 10% and included software and other tech-focused buyout funds.
Singapore's SWF is reportedly marketing PE fund interests managed by firms including EQT, TPG Asia and KKR, with PJT Partners advising.
The sovereign wealth fund has reportedly tapped Evercore to assist in trimming its maturing portfolio.
The disposal to a consortium of other UK schemes was facilitated by online LP-led platform MeltX and received legal support from Willkie Farr & Gallagher and Hogan Lovells.
