Gregg Gethard
Many institutions have adjusted their pacing plans, especially those that are either overallocated to private equity or face liquidity concerns.
The system plans to commit $50m over the next five years to reduce its allocation to private equity.
'The market is where the market is and we are where we are,' says LACERA CIO Jonathan Grable.
'I’m personally spending a fair amount of time in this space,' Carlyle CEO Harvey Schwartz said. 'It’s a big initiative for me.'
The nation’s largest pension system also reported over $1.2bn in annual management fees and carried interest.
The manager looks to expand its LP base beyond Washington State Investment Board.
New York City’s pensions look to take advantage of an increased cap to alternative investments, which could provide an injection of fundraising capital.
The California-based system looks to commit up to $450m in 2024.
The sovereign wealth fund may also explore buying an asset manager.
The manager focuses on complex co-investment structures.