Dietrich Knauth
CalSTRS wants to at least double its co-investments, to 20 pct of all PE Fee savings won’t be enough if co-investments meaningfully underperform CalSTRS will bring more performance and cost data to the board in May California State Teachers Retirement System is considering a staff recommendation to increase its private equity staff by 60 percent, […]
Experts told CalPERS to expect lower returns from long-dated funds However, CalPERS could save on fees and create a more stable PE portfolio Long-term holds could help CalPERS develop direct investing skills A panel of experts offered feedback on California Public Employees’ Retirement System’s plan to create a long-duration captive private equity fund, saying long-term or […]
Commonfund CEO: weaker returns on longer funds Longer-dated funds can benefit understaffed LPs CalPERS plans long fund; NY pledges to Vista Perennial Long-dated private equity funds appeal to investors who dislike the constant churn of typical PE funds. But Commonfund isn’t convinced that evergreen funds’ returns will measure up over the long haul. Large public […]
Co-investments 8.5 pct of PE pledges over 2 years CalSTRS proposes to lift PE staff to 38 from 23 More emphasis on staff with dealmaking experience California State Teachers’ Retirement System plans to double its co-investment pace over the next two to five years, and to meet that goal, it wants to boost its PE […]
Allianz Capital Partners is tilting its U.S. private equity investments toward value-oriented strategies that can thrive even during a potential downturn. ACP, the alternative-assets arm of Allianz Group, has made recent commitments to a smaller software-and consumer-focused fund and a deep-value transatlantic fund. It sees those types of investments as typical of the kind of […]
Allianz has focused on recession-resistant strategies Room in portfolio for PE funds $350 mln to $1 bln High prices stymie building secondaries exposure Allianz Capital Partners is tilting its U.S. private equity investments toward value-oriented strategies that can thrive even during a potential downturn. ACP, the alternative-assets arm of Allianz Group, has made recent commitments […]
First direct allocations to African private markets after previous exposure via fund-of-funds Both managers are new to the Chicago Teachers pension The pension fund is still on the lookout for PE firms owned by women, minorities or people with disabilities Chicago Teachers’ Pension Fund allocated $20 million to two GPs with Africa-focused private equity strategies, […]
CalPERS direct plan most ambitious CalSTRS focusing on co-investing for direct exposure Many large systems increasing pace of PE committing Private equity is one of the most popular investment strategies with large public systems in the U.S., based on how many institutions are boosting their target allocations to the asset class. But several large systems […]
GP-led secondaries create more orderly liquidity options for investors Kerr expects GP-led transactions to grow to 25-30 pct of the market in the coming year Total secondary market transactions expected to near $70 bln for 2018 Tom Kerr is head of secondaries at Hamilton Lane. He spoke with Buyouts about the mainstreaming of GP-led transactions and […]
$10.4 bln system has 16 pct target for PE SBCERA $500 mln pacing would match 2018 Seven GPs with master custodial accounts slated for new commitments San Bernardino County Employees’ Retirement Association plans to commit $270 million to existing general partners in its PE portfolio for 2019, accounting for more than half its $500 million […]