Finland’s VER reflects on how to enliven European venture capital

More innovation originates from the US than in Eur
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Rest Super’s selective approach to PE pays off as program comes of age

Rest Super’s selective approach to PE pays off as program comes of age

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.

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Energy opportunities dry up at TRS

The $160 billion Teacher Retirement System of Texas (TRS) has a long and celebrated prowess when it comes to investing in energy yet enduring underperformance in the asset class was a key focus during a recent board meeting.

NEST’s PE challenge to the industry

The UK defined contribution fund, NEST has added a number of new asset classes to its portfolio over the past year – including infrastructure with a focus on renewables – but the fund is still missing an allocation to private equity. CIO Mark Fawcett spoke to Amanda White about the fund’s challenge to the industry on private equity fees, its focus on climate-aware portfolios and innovative approaches to portfolio management.

Diversity in private market managers

The composition of an investment committee is the most meaningful criteria in assessing diversity, equity and inclusion in private market fund managers according to Mercer.

APG, NPS collaborate on private assets

Two of the world’s largest pension funds, the $626 billion Dutch APG and the $660 billion National Pension Service of South Korea (NPS), have joined forces in a partnership to invest in private assets including infrastructure and private real estate.

Back VC to solve inequalities: Ming

Pension funds around the globe should be putting their high-risk capital towards supporting venture funds that have a track record of seeing value in people, according to Vivienne Ming, Silicon Valley technologist, entrepreneur and theoretical neuroscientist. Ming believes that AI can be used to solve poverty, mental health, inequality and even predict who will spread COVID-19. She says technology can make all of our lives better.

A more thoughtful private equity model

Responsible investors need to take into account how fund management and investment structures may be exacerbating wealth and income disparities, as well as systemic market risk. Raphaele Chappe and Delilah Rothenberg from the Predistribution Initiative have some suggestions for how PE could be adjusted in this regard and how building back better post-COVID-19 requires a more thoughtful model.

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