The latest performance persistence study by RogersCasey’s managing director, head of global portfolio solutions, Soonyong Park, which incorporates data from the volatile 2008 period, confirms the lack of persistence of returns in the equity asset management universes, and further, that it is more pronounced when long-term results are evaluated.
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.
Oregon State Treasury is one of the longest-standing investors in private equity but as allocations pushed beyond the outer policy limit and a maturing asset class puts pressure on returns, a recalibration was necessary. Amanda White spoke to Oregon State Treasurer, Elizabeth Steiner, about the future of private equity.
The Netherlands' Central Bank has warned the country's pension funds that their €150 billion ($177 billion) investments in tech companies, representing almost 43 per cent of their listed equities portfolios and 8 per cent of their total balance sheet, is at risk from a potential AI bubble.
The $50 billion Arizona State Retirement System is pushing into private equity secondaries, actively looking to invest in stakes being overloaded by other LPs, in a strategy that will complement its co-investments program and SMA investments with external managers. It’s looking for opportunities across the US and Europe.
An increasing push to invest in home markets means asset owners need better frameworks for aligning government expectations with investment goals. APG’s three-pronged approach for public infrastructure investments could act as a guide for other investors looking to balance fiduciary duty with political demands.
At the annual review of its fixed income portfolio, CalPERS staff explain how active management, value-add strategies and the hunt for alpha are paying off, with ESG integration giving it a valuable edge and informing it to invest in companies under pressure like Boeing at the right time.
While the US remains the most entrepreneurial economy, China might now be challenging its technology leadership, while demographics, deglobalisation, decarbonisation, and digitalisation are creating “massive opportunities” in almost every market, according to Macquarie Asset Management.
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