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 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's not clear which assets the pension manager intends to sell. BCI is an investor in dozens of private equity funds, including products managed by Bain Capital, Brookfield Asset Management and CVC. When high borrowing costs constrained deal activity, it also hindered the ability of private equity fund managers to make distributions to their investors. That's spurred some endowments and pensions to unload private equity stakes to raise cash and make room for new investments. Investment Management Corp. of Ontario, for example, sold some of its stakes in infrastructure funds in the secondary market and...
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