Canada's top pension fund is reportedly planning to sell $1.5 billion worth of private equity assets in Asia.

According to sources familiar with the matter, the Canada Pension Plan Investment Board is seeking to reduce its exposure to private equity investments in Asia by selling stakes in some funds. The sources said that Canada's largest pension fund began looking for advisors earlier this year to help sell some investments made in the mid-2010s. The sources said that the stakes for sale are worth about $1.5 billion in total and include strategies managed by Hillhouse Capital, Bain Capital, and Temasek Investment Group. They said that the process is still ongoing and plans may change. Representatives for CPPIB, Bain, and Temasek declined to comment, while Hillhouse did not respond to requests for comment.