Ping An seeks to sell US$1 billion software-focused PE assets
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Ping An Insurance, China's largest insurer, is looking to sell US$1 billion in software-focused private equity assets to reduce its exposure in the sector. The sale, managed by Campbell Lutyens, includes stakes in funds primarily managed by Vista Equity Partners and KKR. This move follows a trend where private credit funds are distancing themselves from software investments. Ping An aims to replicate a previous successful transaction in the secondaries market to enhance liquidity and asset management. The insurer's total investment assets are valued at 6.5 trillion yuan, with a recent decline in investment income.
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