Wheelock Marden Capital, the investment arm of Hong Kong real estate tycoon Peter Woo’s Wheelock & Co, is looking to sell a $1-billion private equity portfolio, Bloomberg reported.
The assets could include China-focused managers such as HSG and Vista Equity Partners, but the list of funds could change, according to the report.
Bloomberg also reported recently that Hong Kong Jockey Club offloaded PE fund stakes worth $1 billion.
Canadian pension La Caisse was reported to sell a $1.5-billion portfolio of funds managed by HSG, Warburg Pincus, and Boyu Capital, in a move to rebalance its China exposure.
Other names joining the LP-led secondary market include GIC, CPP, Ping An, and Shin Kong Life.
The total secondary volume reached a new high at $115 billion in H1 2026, representing a 10% year-on-year increase, according to Mizuho–Greenhill’s Global Secondary Market Review H1 2026. Of that, LP portfolio sales accounted for $60 billion, or 52% of the transaction volume.
The report projected that the market could reach a size of $350 billion for the full year.
It spotted that secondary market participants in the US and Asia-Pacific quickly returned to business as usual, after impacts from the Middle East conflicts.
As sellers are actively selling large portfolios, buyers tend to focus on high-conviction managers and familiar assets in their target geographies and in sectors likely to be less affected by the rise in energy prices and the resulting increase in inflation, the report noted.
