| Ardian, the French alternative asset manager, agreed to buy a portfolio of private-equity fund stakes worth about US$1 billion (S$1.4 billion) from Singapore sovereign wealth fund GIC, people with knowledge of the matter said.
The private-equity firm made a preemptive offer to GIC at a premium to book value to avoid an auction, said the people, who asked not to be identified because the information is private. Paris-based Ardian and GIC both declined to comment...............................................Full Article: Source
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