COAERS finds rich pickings in PE secondaries; warns of retail risk

David Kushner

The exit drought and extended holding periods
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TfL Pension Fund: A bespoke benchmark in Bridgewater mandate strikes gold

TfL Pension Fund: A bespoke benchmark in Bridgewater mandate strikes gold

Transport for London Pension Fund styled a bespoke benchmark to gold in its Pure Alpha mandate with Bridgewater. It has added hundreds of millions of pounds to the portfolio, says chief investment officer Padmesh Shukla. In a wide-ranging conversation, he also explains the rationale for reducing equity to just 18 per cent of the total fund and why emerging markets aren't offering the diversification or returns they used to.

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TRS fuels up for energy surge

The $155 billion Teacher Retirement System of Texas is restoring its target allocation to energy, as experts see favourable conditions due to higher US oil production and continued reliance on fossil fuels. This is at odds with other investors divesting from fossil fuels.

Adventist Health’s risk appetite grows

The $6 billion Adventist Health System is considering more risk as it grows and is seeking to gain from efficient processes. The goal remains maximum effectiveness in provision of healthcare.

AP7 targets anti-climate lobbying

The $53.8 billion AP7 is using shareholder resolutions to push companies to reveal their true positions on the Paris agreement and other measures. Corporations are taking notice and changing.

Utah Retirement to pick PE managers

Utah Retirement Systems considers its strong balance sheet, history of long-term relationships with managers and nimble governance advantages as its search for GPs in private equity begins.

CalPERS manages outsized equity risk

The $335 billion California Public Employees' Retirement System warned this week that it is greatly exposed to a downturn in global equity markets, as it prepares to monitor active risk closely.

N. Mexico PERA adopts Wisconsin model

Public Employees Retirement Association of New Mexico CIO Dominic Garcia is headed down the path less travelled, employing a risk-parity and alpha strategy he learned with the State of Wisconsin.

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