PRINT THIS PAGE CIT Group sells private equity portfolio to Protostar Equity Partners23/01/2004. Source: AltAssets. 
 US-based CIT Group has announced that it is to sell its direct private equity portfolio to secondaries specialist Protostar Equity Partners. The funding for Protostar is being provided by Goldman Sachs’ GS Vintage Funds II.
CIT Group is a commercial and consumer finance company and has nearly $50bn in assets under management. Protostar is a US middle-market private equity firm dedicated to acquiring portfolios of direct private equity investments, targeting transactions ranging from $50m to $250m.
The secondary sale of portfolios of direct investments has become an increasingly common phenomenon over the last two years, building on the specialists’ expertise in the area of buying secondary fund investments.
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