As the Canada Pension Plan Investment Board gets larger, it is considering how to retain its sizeable private-market holdings with public proxies. It’s a ‘capacity issue’.
A lot has been written about the superiority of the “Canadian model” for managing pensions, but can a value be assigned to this organisational design structure?
LPP’s chief investment officer is convinced proper governance is the key to fund collaborations. He has Lancashire County and London pensions on similar paths and has bulked up in-house prowess.
UniSuper CIO John Pearce has put together an internal team that consistently delivers top-ranked returns. Here, he discusses his investment philosophy and reveals a dominant theme for 2017.
In this paper, Ashby Monk and Rajiv Sharma from the Global Projects Center at Stanford University, examine the balance of power among the various parties in the private assets investment food chain. They argue that fund managers have too much power, as do the consultants that act as gatekeepers to those managers. While the authors... Read more »
The $26 billion Australian super fund, Sunsuper, is investing in an increasing amount of exclusive unlisted asset deals. Chief investment officer David Hartley says the difficulties of banks in Europe in particular have led the fund down the path of increasing the amount of debt investments in its unlisted exposure. Much of this has been... Read more »
There is no 3 per cent illiquidity premium in private equity, according to research by CEM Benchmarking. A cost drag on private assets cancels out the returns of investing in private equity and real estate for those investors that outsource to external providers, the research finds. CEM Benchmarking, which has a database of 354 pension... Read more »