OTPP: Positioning the fund for the next decade

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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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CalPERS’ PE reform uses familiar model

The California Public Employees’ Retirement System decides to stick with a traditional approach to direct investment within its private equity portfolio, planning to use a model that features ‘captive’ general partners that will operate independently but with a clear mandate from the fund for long-term value and benefit to society.

UK’s BTPS forges independent identity

Since splitting from its former inhouse manager, Hermes, the £50 billion British Telecom Pension Scheme has set about redefining itself. With a self-reliance borne of technology, the fund has brought portfolios and functions inhouse and started a bigger push into mature infrastructure.

MP Pension’s full embrace of ESG

The $17.4 billion Danish fund for academics is emphasising all three letters in ESG. Its portfolio is shedding fossil fuels as it advocates for diversity and plots a new sustainable strategy.

IMCO plots private, inhouse future

The C$60 billion ($48 billion) Investment Management Corporation of Ontario, the latest kid on the block in Canada’s pension scene, is planning its asset allocation 2.0, which will involve more private and direct investments, more internalisation and lower costs. Amanda White spoke to chief executive Bert Clark and chief investment officer Jean Michel.

PennPSERS reports carried interest

PennPSERS has announced it pays its private equity GPs about 20 per cent of investment profits. The reveal from the $56.7 billion public pension fund, which came after a laborious process involving 500 staff hours, expands on its commitment to transparency.

Alaska keeps C-suite interviews public

The $64.9 billion Alaska Permanent Fund’s new CIO interviewed for the role while the public watched and listened. A history of transparency at APF defies sovereign funds’ reputation for secrecy.

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