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MassMutual nears deal to offload $250m of buyout fund stakes

24 Apr 2014

Westview BostonThe Massachusetts Mutual Life Insurance is reportedly nearing a deal to offload a $250m portfolio of mid-market buyout funds.

The portfolio will be acquired by a single buyer, said PeHUB, citing two people with knowledge of the situation.

UBS is advising on the deal and it is unclear why MassMutual is selling the stakes and how bit a part of its private equity portfolio they represent, said the report.

MassMutual’s portfolio funds include Glencoe Capital Partners III, Sentinel Capital Partners Fund II, Sorenson Capital Partners I and Wind Point Partners V. In 2012 MassMutual backed Braemar Energy Ventures’ third fund, which was closed on $300m in June that year.

The LP had $109bn of assets under management as at the end of last year, of which around one per cent was invested in equity.

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