Ardian Is Near Deal to Buy Over $1 Billion of BCI's Private Equity Holdings [Financial Post (Toronto, Ontario, Canada)]
Brookfield Corporation Class A Limited Voting Shares (BN)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — French buyout firm Ardian SAS is close to a deal to acquire more than $1 billion of private equity fund stakes from British Columbia Investment Management Corp., according to people familiar with the matter. The transaction may close in the next few months, one of the people said, asking not to be identified discussing a confidential matter. Article content The British Columbia fund, which manages the retirement savings of government workers in the Canadian province, was considering the sale of about $2 billion worth of Europe-focused investments and reducing its US positions to rebalance its portfolio and free up cash, Bloomberg News reported last June. Article content Spokespeople for Ardian and BCI declined to comment. BCI owned C$28.3 billion ($20.6 billion) of private equity assets as of March 31, 2023, more than 10% of its holdings. It
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