A buyer has been identified for a portfolio sold by the World Bank Staff Retirement Plan and Trust, with Blackstone Strategic Partners acquiring it for nearly $1 billion. Jefferies advised on the transaction, which closed last year. This sale adds to Blackstone’s active involvement in large LP-led deals, following its prior acquisitions of portfolios from the Pennsylvania Public School Employees’ Retirement System and Fubon Life Insurance. The global secondaries market reached a record $162 billion in 2023, with LP-led deals comprising $87 billion. Pricing for these transactions has increased, reflecting strong demand and liquidity needs among LPs.