Justin Mitchell

Hamilton Lane said it leveraged its size with the manager to negotiate even more attractive fees for its clients.

In a letter to the $58.8bn pension's board, Jonathan Grabel said LACERA would stick to its investment pace and also look for unique opportunities.

The pension's private equity program is still in its "development phase," but its consultant believes sticking to the plan during the market dislocation could prove profitable.

The $77.8bn pension had passed its July 2021 goal to grow its PE program, so it reset its targets as of April 1.

CIO Rod June said the $17bn fund had enough cash on hand to handle the increased capital calls.

Most larger private equity firms should be able to get along fine without any government assistance, but some smaller firms could face issues, sources say.

The annual changes to the investment committee's delegation changed or eliminated several clauses which board members and stakeholders saw as transferring power from the board to staff.

The pension's investment teams were “actively rebalancing” asset allocations to stay within proper benchmarks.

The increased estimated fees for the Opportunistic Strategies portfolio come amid exactly the type of market dislocation for which the portfolio was partly designed.

While most LPs are in "wait and see" mode, some family offices are seeing a unique opportunity to help strong companies struggling in the short term.