The Hong Kong Jockey Club has sold $1 billion worth of assets from its fund portfolio at a discount to Toronto-based Dawson Partners, according to people familiar with the matter, marking one of the biggest disposals by an asset allocator in Asia.
The deal includes investments in funds of Blackstone Inc. and other buyout firms, according to the people, who requested not to be named for discussing private matters. They were sold at a single-digit discount to the portfolio’s net asset value, one of the people said. Jefferies Financial Group Inc. advised on the deal, the people added.
The Jockey ...
