Ping An Insurance Group Seeks to Sell $1 Billion in Software-Focused Private Equity Assets
Ping An Insurance Group, China's largest insurer, is planning to sell approximately $1 billion worth of stakes in software-focused private equity funds. The insurer has engaged Campbell Lutyens to facilitate the sale, which began in March. The portfolio primarily includes two funds managed by Vista Equity Partners, which invested in North America during the late 2010s, and another fund managed by KKR & Co. This move comes as private credit funds are increasingly reducing their exposure to the software sector, and several planned sales of software companies by private equity have stalled. Over the past 15 years, private market managers have allocated significant resources to software, betting on the growth and cash flow potential of software-as-a-service models. 
