CalPERS wants PE revamp to move quickly
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.
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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FSBA pounces on high valuations
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.
Texas’ ERS to boost alternatives
The $29 billion Employees Retirement System of Texas will add to its alternatives portfolio over four years and wants small managers to represent 10 per cent of its active mandates.
Oxford U. fund knocks private equity
The CIO of the $4.3 billion fund manager argued in a panel discussion that an excess of capital in the market and lack of access to top general partners have hurt the asset class.
General partners must regain trust
In the GFC, many investors got burned as limited partners, by costly experiences and opaque strategies. To fix the damaged relationships, a focus on disclosure and aligned interests is essential.
Canada’s Caisse innovates in PE
The $233.3 billion pension fund, CDPQ, is looking to expand its sizeable private-equity allocation with moves into emerging markets and unconventional deals. Flexibility is essential.
Private Equity