GE Capital is selling the LP interests in private equity funds as its parent company bids $17bn for Alstom's power business.
France-based investment firm Ardian has agreed to acquire a $1.3bn private equity portfolio from GE Capital, the financial services subsidiary of industrial conglomerate General Electric.
GE sold the portfolio, which consists of a range of limited partnerships in mostly US-based private equity buyout funds, as part of a strategy to reduce its non-core assets. Ardian previously acquired $1.9bn of private equity fund interests from Bank of America in 2010 and $1.7bn from Citigroup in 2011.
News of the deal emerged…
