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CalPERS’ private markets chief: TPA won’t disrupt PE commitment pacing

CalPERS’ private markets chief: TPA won’t disrupt PE commitment pacing

Anton Orlich, CalPERS' newly minted deputy chief investment officer for private markets, says the fund’s July adoption of the total portfolio approach will not impede the private equity strategy launched in 2022, arguing that short-term relative-value calls made under TPA would be expressed in liquid markets and not by oscillating commitments to private markets. In an interview with Top1000funds.com, Orlich unpacks the asset class’s four-year transformation.

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OMERS flags end to supercharged private equity returns

OMERS has warned that investors need to temper their expectations regarding the performance of more recent private equity vintages, as the favourable environment of high valuation multiples and low interest rates that spurred over a decade of superior returns begins to fade, said APAC head Ashish Goyal in Singapore.

The efficiency trap

Will the relentless pursuit of efficiency undermine our ability to build a resilient and sustainable future? Andrea Caloisi, a researcher at the Thinking Ahead Institute at WTW, explores how complex systems, driven by short-term optimisation, may be fuelling long-term fragility.

PFZW’s IC chair explains why cutting equity names hones impact

Professor Dirk Schoenmaker, investment committee chair of the €250 billion ($291 billion) Dutch healthcare pension fund Pensioenfonds Zorg en Welzijn (PFZW), whose expertise has helped inform its "3D" investment strategy, explains why less is more in an equity allocation with fewer stocks.

CPP hires former AIMCo Singapore head to bolster TPA 

After hiring former CalPERS' investment chief Ben Meng six months ago, Canadian pension giant CPP Investments has added another seasoned pension executive, Kevin Bong, to its investment team, in a sign that the C$732 billion ($530 billion) behemoth is staffing up to focus on alpha and enhance total portfolio management.

ACERA eyes global, more active approach for $6.6b equity portfolio

The $13.2 billion Alameda County Employees’ Retirement Association fund is planning a major overhaul of its equity portfolio, shifting from a passive US-focused approach to a more global, actively-managed strategy in an effort to boost returns. The shift will result in manager terminations and searches.

Accountability, performance at the heart of Temasek’s three-way split

Singapore’s Temasek has unveiled its biggest organisational overhaul in more than a decade, splitting its investment portfolio into three entities to “sharpen” investment focus, boost accountability and align performance metrics. It came as the fund targets a 60/40 split between the “resilient” and “dynamic” assets to weatherproof its portfolio.

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