PE outperformance doesn’t add up
Thanks to recent history, flawed methodology and ill-chosen indices, most say PE consistently outdoes public equity. But the right data tells a different story, Oxford academics write.
Iceland’s LV is eyeing more emerging markets allocation and private equity co-investments after conducting an SAA review, which will be finalised in the first half of 2026. CIO Arne Vagn Olsen says the shift is designed to make the $11 billion pension fund future-ready.
Thanks to recent history, flawed methodology and ill-chosen indices, most say PE consistently outdoes public equity. But the right data tells a different story, Oxford academics write.
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.
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.
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.
The board of CalPERS is still wrestling with issues such as pay and level of control over its new private-equity entity. Meanwhile, opportunities could slip away if the launch is delayed.
The $204 billion Florida State Board of Administration has decided today's market is overpriced and is unloading private equity and real estate to re-deploy capital for higher long-term yields.
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