Alaska's CIO Marcus Frampton explains why he's keen to pare back private equity. Writing smaller cheques comes with consequences but he'd rather get the right portfolio exposures ahead. Absolute return and RE become a focus.
2022 was one of the most challenging years for private equity investment for years. Successful investment in today's volatile and challenging market involves vintage year diversification and steady pacing. And the MassPRIM investment team warns that aggregate headline US private equity valuations doesn’t tell the whole story.
Allocations to property, some hedge funds and holding most of its assets in currencies other than sterling, helped Wellcome Trust withstand the impact of last year's simultaneous decline in prices in equities, government bonds and corporate credit on a scale not seen for many years.
The investment team at CalPERS asks the investment committee for an increase in staff delegation limits for private assets to help meet the new SAA to private markets, and the board reflects on the liquidity and leverage program in place.
As Missouri PSRS/PEERS builds its 40 per cent allocation to private markets, CIO Craig Husting is slashing fees with a large private equity co-investment programme and an in-house direct credit lending allocation.
Imperfect data, opaque third-party managers, and obtaining the necessary talent and tools are among the toughest challenges for investors as they navigate the path to net zero emissions by 2050.
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