Utah to look for PE managers
The $37 billion Utah Retirement Systems (URS) will allocate to private equity managers directly, rather than through funds-of-funds, for the first time since it began investing in the asset class 35 years ago.
The $37 billion Utah Retirement Systems (URS) will allocate to private equity managers directly, rather than through funds-of-funds, for the first time since it began investing in the asset class 35 years ago.
Alternative private equity vehicles underperform the associated main fund, new research from Harvard's Josh Lerner and MIT's Antoinette Schoar has shown for the first time - but skilled limited partners flip the script.
Everything from charging dead people fees to trustees nixing mergers out of self-interest has emerged, as royal commission hearings have exposed big flaws in the world's fourth-largest pension system.
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.
Low-volatility equity approaches have delivered for 10 years. As their popularity rises, Mercer looks at potential uses, causes for concern, and whether it's time to move in another direction.
The NZ$33 billion NZ Super is looking to increase its exposure to equity factors and implement the next phase of its climate strategy, which includes decarbonising existing factor mandates.
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