CalPERS Short List

A syndicate of four buyers has emerged as the likely winner of a California Public Employees' Retirement System's private equity portfolio, ending a year-long saga for the largest portfolio to find its way to the U.S. secondary market to date. LBO Wire also reported that secondary shop Lexington Partners, fund-of-funds managers HarbourVest Partners and Pantheon Ventures, and asset manager Oak Hill Investment Management are in exclusive negotiations to acquire the lion's share of the portfolio of private equity assets, people familiar with the deal said.