US Kaiser Permanente to sell $3.5b in private equity

Kaiser Permanente, a leading US health care network, is selling a portion of its private equity holdings worth up to $3.5 billion due to cash constraints, Reuters reported, citing Wall Street Journal report published on Sunday.

The organisation is working with Jefferies Financial Group to sell the stakes to secondary buyers. These buyers typically purchase existing private equity investments from other institutions.

The report suggests that Kaiser Permanente might offer a similar-sized portfolio of private investments later in 2024.

Neither Kaiser Permanente nor Jefferies Financial Group has yet responded to requests for comment from Reuters regarding this potential sale.

Despite financial challenges, Kaiser Permanente remains a significant player in the US healthcare industry. With over 24,000 doctors and 73,000 nurses, they are among the largest employers of medical professionals.

Their network operates 40 hospitals and maintains over 618 medical offices across the country, according to their website.