Gregg Gethard

Changes at the US pension may nourish a starved PE market with capital.

One of the nation’s largest institutional investors may boost how much it will allocate to PE following a new state law lifting its cap on alternative investments.

The nation’s largest pension system continues the overhaul of its private equity program.

The move may add badly needed powder to a tight fundraising marketplace.

The manager is also raising an Opportunity Fund to invest in earlier flagships.

Connecticut is the first known investor in the new fund.

The system could add energy transition and similar funds to its portfolio.

Aksia’s total fees would increase by nearly $1m over the next five-year term.

'Insight’s performance has been challenged,' said board member and state Treasurer Stacy Garrity. The manager’s failed investment in FTX was also a concern.

The manager has also increased the number of portfolio companies it intends to target, along with investment sizes.