In this latest paper, Watson Wyatt, suggests some changes to redress the imbalance in private equity fees including changing the basis on which a manager sets its management fees; and that GPs should consider phasing in management fees over the investment period to reduce the significant fee drag from paying on commitments early in the life of a fund.
A concentrated bet on fewer, better GP relationships is paying off for one of Australia's largest superannuation funds. Built on selective manager and deal selection rather than a broad roster, the A$112 billion ($78 billion) Rest Super delivered private equity returns more than double the peer average last financial year, as the fund proactively courts top-tier PE firms instead of waiting to be approached.
Pictet Asset Management believes that declining emerging market policy rates and rising global trade will drive the performance of EM debt – and if the US dollar declines and local manufacturing rebounds, we could see a “super boom”.
Stephan Bereuter, CIO of Switzerland's Migros-Pensionskasse (MPK) explains why he favours gold, and argues that after three years in the doldrums core real estate opportunities are starting to open up.
In a bid to support portfolio companies in Teachers’ Venture Growth allocation, the pension fund convened a discussion on how founders and CEOs can optimise their exit.
Much anticipated reform of Sweden's five buffer funds will liquidate AP1, dividing assets between AP3 and AP4. Private equity specialist AP6 will also merge with AP2, expanding the opportunity for the private equity investor and securing the future of the specialist team.
The New Jersey Division of Investment generated double digit returns in fiscal year 2024 while maintaining good liquidity and dry powder on hand with an overweight to cash and cash equivalents. The cash position is likely to decline through 2025 given the robust pipeline in new private market opportunities.
“Europe is great at discussion and regulation, but rather poor at actually doing business,” says Sweden's AP3 CIO, Jonas Thulin. “The equity market is harsh, and when it votes it walks out the door. This has been happening for a long time in Europe.”
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