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Secondary Securities Market Could Emerge
By Erika Morphy

A San Francisco-based private equity firm that buys real estate interests in the secondary markets has closed what it believes to be the largest trade to date, prompting principals at the firm to declare that an active secondary market for private equity funds is imminent. Liquid Realty Partners announced last week that it purchased a real estate portfolio of United Kingdom-based Jersey property unit trusts valued at more than US$775 million.


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