Hong Kong Jockey Club offloads $1bn private equity portfolio to Dawson Partners amid Asia LP sell-off trend
The Hong Kong Jockey Club has sold a $1bn portfolio of private equity fund stakes to Canadian secondaries firm Dawson Partners, in one of the largest asset disposals by an Asian limited partner.
The transaction, advised by Jefferies Financial Group, involved stakes in funds managed by Blackstone and other major buyout firms.
According to people familiar with the matter, the assets were sold at a small single-digit discount to their net asset value.
The sale marks a major liquidity event for the Jockey Club, Hong Kong’s largest taxpayer and holde…
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