Electra Partners has bumped its secondary private equity portfolio to £78m after picking up two more fund positions for a combined £22m.
The UK firm bought a portfolio of five secondary fund positions for £56m from an unnamed bank in February, and said it had now added the sixth in a £9m deal.
Electra said a further positions bought for £13m meant EP I Secondary Portfolio had been put together at a discount to NAV and was attractive as it is already distributing cash.
The firm’s chief investment partner Alex Fortescue said earlier this year that they continued to see strong deal flow for investments in bank-related assets.
Its latest purchases came hot on the heels of it agreeing to increase its investment in the data services businesses of UBM to £112m earlier this week.
Electra Private Equity PLC will part with up to £99m and Electra Partners Club 2007 up to £13m for the businesses, which provide data and information products to help professionals across sectors including healthcare, technology and forestry.
The firm also made a three times return on its investment in insurer esure through an IPO last month.
Electra had more than £1.3bn of funds under management at the end of September 2012 and over £400m available for new investment.
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