<p style="line-height: 18.9091px;">The Universities Superannuation Scheme (USS) has sold a £640m (€868m) private equity (PE) portfolio as it prepares a shift towards greater direct investment. The portfolio, sold to Ardian, comprises the pension scheme’s stakes in 13 PE funds, but USS said in a statement that the sale of any one managers’ fund would not preclude it from working with them in the future.</p>