Gregg Gethard
A dodgy economic picture raises concerns as systems plan for the coming year.
A dislocated market and several niches could bode well for the sector, according to the EisnerAmper study.
'There are enough yellow and orange flags, if not red flags, that show valuations may not reflect what an orderly market transaction should reflect.'
Relationships with existing managers have been in vogue with LPs facing hard decisions in a tough economic climate.
The agency with oversight of New York City’s five public pension systems says staff constraints could limit future plans to make smaller commitments to more managers.
‘We need more talent. And the industry needs to properly recognize the value of allocating skill. A lot of institutional investors are short-staffed.’
Private equity finds itself in the middle of ESG’s escalating politicization.
The system believes private markets will outperform public equivalents over the long term and has a long-term plan to increase its exposure.
LPs have been frustrated by GPs reluctance to take write-downs on assets up through the second quarter.
The system won’t sell any assets to meet its target despite the denominator effect’s impact.