Gregg Gethard
LP stands for 'Limited Patience' as overworked, overextended and stressed-out professionals cut ties and create a brain drain.
The mega buyouts manager has tempered its expectations in the slowing fundraising environment.
Large managers have been forced to reduce targets due to a sluggish fundraising environment. Now smaller shops may endure this trend.
“I wouldn’t call us conservative. But we do want to be more liquid and transparent,” said San Diego County CIO Stephen Sexauer.
Why did CIO Nicole Musicco step down after only 18 months, right in the middle of executing major expansions of the system's private markets strategy?
Possible increases from two mammoth public pensions could bring liquidity to a parched fundraising environment.
'Over the years, we had a number of funds that drifted into the plan. It became insurmountable for us to deal with. We want to commit larger amounts to fewer funds while still being diversified,' PA State CIO James Nolan said.
Revamped policies under departing CIO Nicole Musicco’s watch have started to take foot.
Nicole Musicco is leaving the post after instituting major changes in the system’s private equity program.
Musicco will step down at the end of September after serving a little more than a year as CIO, according to a CalPERS press release.