BNP Paribas is looking to shed its $700 million private equity portfolio, Financial Times reports. The European bank shed the basket of more than 50 private equity fund interests to take advantage of rising demand for such portfolios.

The portfolio is one in a number of options that BNP is considering, given its non-strategic disposition and regulatory pressures. The market for second-hand private equity assets such as these has zoomed in two years. The transaction volume more than doubled in 2010 and is set to reach $25 billion this year, UBS research shows.

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