Sell-down theme continues in small sizes

Private equity fund H&Q raises $55 million as it exits from Korea's Hyunjin Materials, while a pre-IPO investor in US-listed E-House cashes in $26 million.

Long-term investors continue to take advantage of the rebound in equity markets over the past month to secure profits, with two more blocks completed yesterday. Private equity fund HQ Asia-Pacific sold its 13.9% stake in Korea's Hyunjin Materials in a deal that raised about $55 million after being priced at the top. And a pre-IPO investor in Chinese real estate agent E-House China Holdings reaped $26 million by selling part of its stake in the US-listed counter.

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