UniCredit's German arm HypoVereinsbank has put €600m worth of private equity fund stakes on the secondary market. 
According to Bloomberg, UBS is handling the sale, a stapled transaction that would mean the buyer committing to funds managed by Unicredit's team in Milan, which has thus far invested off the bank's balance sheet. 
The German arm already offloaded some €300m worth of LP interests last year and continues to liquidate its private equity exposure as secondary deal flow continues.   
Last month, Swiss fund of funds Partners Group closed a fund dedicated to this niche of the market on €2bn. At the time the firm said it looked at over €70bn worth of possible deals in 2011 and does not see opportunities easing off as regulatory pressure on banks to move out of alternative assets and raise capital continues.