Ardian, Blackstone and Apollo Are Top Buyers of $5 Billion Private-Equity Portfolio

A group of blue-chip buyers is set to acquire one of the largest portfolios to trade on the market for secondhand fund stakes.

Healthcare provider Kaiser Permanente in Oakland, Calif., is selling about $5 billion of private fund positions to a group that includes buyout firms Ardian, Blackstone Inc. and Apollo Global Management Inc., according to several people familiar with the matter. The assets are held by the company’s pension plan...

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