Private Equity CFOs
Since the advent of CFOs (ca. 2002), there have been only a handful of publicly announced private equity securitization transactions. Typically, owners of private equity assets will securitize a portfolio of funds as a way of generating liquidity without an outright secondary sale of the funds.
- In 2006 Temasek Holdings completed $810 million securitization of a portfolio of 46 private equity funds.
- SVG Capital has executed three CFO securitizations as part of its "Diamond" program, SVG Diamond (2004), SVG Diamond II (2006) and SVG Diamond III (2007).
- Alongside its CLO program, Mizuho IM has launched its first CFO called Vintage I in 2007, a EUR 500 million fund investing in global buyout funds. The investment has proved extremely successful so far. Now under the ownership of 3i Group, the Vintage team closed a second USD 400 million Vintage II.
- Tenzing (2004) — Securitization of private equity fund assets by Invesco
- Pine Street (2003) — Securitization of private equity fund assets by AIG
- Silver Leaf (2003) — Securitization of private equity fund assets by Deutsche Bank
Read more about this topic: Collateralized Fund Obligation
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