Gregg Gethard
The system has had an inconsistent pacing plan since its inception in 2013.
The system has one of the nation’s oldest emerging manager programs.
Acquisitions and exits have started to recoup, according to the system's deputy CIO.
The firm specializes in mid-market industrial and business services companies.
The system’s current allocation to PE is well above its target, and it has reduced commitments as a result.
Reduced distributions may impede how much institutional investors may commit to PE.
The system hopes to regain its cashflow positive status.
The system is a case study of the current LP environment as its overallocated and cashflow negative.
The manager is fundraising in an environment that’s especially hard for tech companies.
“Everyone expected a recession that’s not here yet,” said a representative of StepStone, the system’s PE consultant.