US and European bases of operation will “give us runway to continue doing what we’ve been doing,” PE chief Jim Pittman told Buyouts, including “growing our book of directs.”
John Panebianco joins the PE team led by his former New Jersey colleague Jared Speicher, who joined MetLife last year to lead the US LBO portfolio.
The nation’s largest pension system’s emerging manager commitment flies in the face of many other public allocators that have emphasized re-ups with existing relationships.
'We could even go further but we decided to take a smaller step if anything,' West Virginia CIO Craig Slaughter said.
"LPs may need to make some hard choices about committing capital in 2023, as allocations are already stretched—so fundraising will continue to be elongated."
Public systems are reviewing PE pacing as they face overallocations and potential writedowns in the portfolio.
LPAC seats offer systems many advantages – if they can obtain one.
Retirement systems ponder their next steps in setting targets in a volatile climate.
Council members asked investment staff for more allocation options due to liquidity concerns.
Insight Partners launched its 13th flagship in August.