For venture capital investors, the days of receiving 100-plus per cent internal rates of returns (IRRs) from a broad sweep of managers are gone. But this doesn’t mean investors should give up searching for the few remaining outperformers.
A glittering array of institutional investors is believed to have become seed investors in this week’s fund-raising for the float of American Insurance Group’s Asian business.
Professional investment management has come ahead in leaps and bounds over the past decade or so. The latest trend to alternative and bespoke benchmarks has undoubtedly given pension funds more ammunition to test the skill and remuneration of their managers, either external or internal.
The Government of Singapore Investment Corporation (GIC) has signalled a further shift towards selected emerging markets and to private markets, in its annual report published last week.
While US corporate pension funds enjoyed their best month this year, in September, they remain chronically under-funded, according to the latest figures from Mercer Investment Consulting.
Another page has turned in the history of the Stuyvesant Town – Peter Cooper Village apartment buildings in New York, as iconic as they have been controversial since their initial construction in the 1940s. CalPERS, America’s largest pension fund, has terminated BlackRock, one of its property managers which led a 2006 purchase of the 80-acre
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