Noah to launch two secondaries products

Chinese wealth manager Noah Holdings is preparing two private-market global secondaries funds for launch in the next few months, AsianInvestor can reveal. One will focus on private equity and the other on private real estate assets. Rather than making direct investments in secondaries, the funds will buy limited partners’ shares at a discount to net asset value before the lock-up expires. “Basically it’s like providing an early exit and liquidity to existing investors, hopefully…