LPs can look beyond top in VC
The common refrain from limited partner investors is that they can’t access ‘top-tier’ VC funds, so they avoid them entirely. A look at the data reveals whether this belief is fact or fiction.
Nest, the largest workplace pension in the UK, says that private credit managers who prioritise institutional clients will be more favourably viewed. The £61 billion ($82 billion) fund has awarded a £450 million ($605 million) US direct lending mandate to Crescent Capital this month, citing the manager's institutional-client-first approach as a key attraction.
The common refrain from limited partner investors is that they can’t access ‘top-tier’ VC funds, so they avoid them entirely. A look at the data reveals whether this belief is fact or fiction.
MERS chief investment officer Jeb Burns still finds value in active management as he seeks to up the fund’s exposure to emerging markets, and other non-US locales, in equities and real assets.
Norway is looking into whether GPFG, the world’s largest sovereign fund, should take on more diversifying assets and expand its tracking error. The fund’s ESG performance is also under review.
Equity managers are skewed to potentially sub-optimal short-term investment, a new study shows, with little understanding of opportunities missed, risks ignored and hidden costs.
Investors are not getting paid for taking on carbon risk according to New Zealand Super, prompting the fund to move its global passive equities portfolio to low carbon.
The large size and penchant for active investment of the $120 billion AustralianSuper present both opportunities and challenges for its fund managers and inhouse equities team.
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