CalPERS wants PE ideas for new entity
The CalPERS’ board has approved the first step in the creation of a new private equity model, and now the fund’s CEO, Marcie Frost, is looking for advice on how to structure such an entity.
Germany’s largest pension fund VBL ups diversification; invests more abroad
Germany’s €70 billion pension provider VBL is increasing its diversification, notably investing in overseas real estate outside Germany for the first time. It's also increasing its tilt to international equities over European stocks, enabled by an organisational and investment process overhaul.
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MetallRente builds risk return culture
A new fund in Germany combining liquidity, dynamic equity exposure and strong ESG focus is against the mould of the country’s more conservative, insurance-led investment style, and Heribert Karch, managing director of MetallRente which offers the fund, is determined to bring a return-seeking investment culture to Germany.
Oregon makes fees work
The $77. 3 billion Oregon Public Employee Retirement Fund has continued to achieve top decile returns at the same time as de-risking and reconstituting half its giant portfolio.
There’s alpha in Chinese equities
The returns of long-term investors are driven by economic growth so it is difficult to ignore China as a big part of the future investment opportunities, a panel of experts told delegates at the Fiduciary Investors Symposium.
OTPP boosts bonds, late cycle protection
OTPP increased its bond allocation from 22 to 31 per cent last year. The defensive strategy was aimed at taking advantage of rising yields in fixed income markets and protecting the portfolio from a potential economic slowdown given the late cycle and decade-long economic expansion.
Oregon’s real estate revamp
Oregon State Treasury has de-risked its $12 billion real estate allocation, moving away from closed end, private equity-style investment and its associated inherent cyclical risk and total return focus. Building in more liquidity and transparency, reduced volatility and lowered fees via evergreen manager partnerships in separate account and open-end fund structures.
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