RESEARCH

Pensions’ flawed return forecasts

We all know past performance is not indicative of future results, but a new study finds evidence that US public pensions are basing performance forecasts on their own prior experiences anyway.
INVESTOR PROFILE

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.
ANALYSIS

CalPERS sees opening in VC

California Public Employees’ Retirement System CIO Ted Eliopoulos revealed in an interview that the pension giant sees ‘an opening’ caused by private companies taking longer to list.
INVESTOR PROFILE

CalSTRS manoeuvres for 2018 trends

Risk mitigation and changes in private equity are examples of how the California State Teachers’ Retirement System is positioning itself for 2018. CIO Chris Ailman shares trends he sees ahead.
ANALYSIS

ESG scrutiny hits private markets

Listed assets aren’t the only investments under more scrutiny. As funds strive for sustainability, they are now applying that rigour even to notoriously opaque classes such as private equity.
INVESTOR PROFILE

Alaska Permanent braces for cash call

Alaska’s APFC faces an uncertain future as state lawmakers consider tapping into it to address budget shortfalls. The potential cash call makes fund CEO Angela Rodell’s job that much tougher.
FIS MIT

Asset owners rethink private equity

As structural shifts in the asset class have reduced persistence and returns, even long-time players have had to re-think strategy. So how have they adapted?
FIS MIT

Private equity persistence slips

Private equity is undergoing a structural change – with persistence and performance waning – but co-investment may not be the panacea, MIT’s Antoinette Schoar discovers.
Featured Homepage Articles #2

Carlyle MD says cycle isn’t done

Carlyle’s Jason Thomas says private-equity investors miss out when they try to call the top of the cycle. He thinks Trump’s impact has been overblown and that the current cycle isn’t done yet.
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OTPP’s private equity revolution

A deep dive into the world-class private capital division of OTPP, led by Jane Rowe, reveals a strategy of buying large direct stakes in companies, and a commitment to innovation.
Featured Homepage Articles #2

Performance fees hardly worth it

An analysis of 218 Dutch pension funds has shown that paying performance fees has little impact on performance. Size of fund and specialisation were deemed more important for net returns.
INVESTOR PROFILE

CAAT sheds public equity

Canada’s fully funded Colleges of Applied Arts and Technology Pension Fund will move 15 per cent of its assets from public equities to real assets and private equity, following a review.