Sponsor blocks reappear despite volatility

摘要

The US sponsor block trade business is having a slower year, but sprang back to life in the past week with a series of overnight sell-downs that allowed private equity firms to pare their public portfolio holdings at attractive prices. In several widely expected deals struck at thin discounts to last sale, Thomas H Lee Partners sold the bulk of the shares offered in a nearly US$497.5m registered block trade in cloud human resources software provider ceridian hcm, while KKR & Co sold its remaining US$283.6m stake in eyewear retailer national vision to complete a highly successful and rapid monetisation that began by taking the company public in 2017.