During discussions, the treasury committee said it would target GP-led secondaries deals.
LP overallocation has been a key factor in slow private equity fundraising over the past two and a half years.
The expanded focus would include co-investments in private real assets, private income strategies and unique strategies.
The decision comes as part of ERS Texas’ continued commitment to the private equity asset class, bumping its fiscal year 2024 target up $50m from last year’s $600m targeted commitment.
Despite the increased target, the pension system's private equity allocation remains overweight by 1.8%.
In taking over from Suyi Kim, Gubbels will become CPP Investments’ second consecutive female private equity head.
The survey, conducted by Barnes & Thornburg, found that 96% of LPs thought it was important for a GP they invest in to have a succession plan.
A difficult fundraising environment is giving LPs more leverage to negotiate issues such as key person time requirements and automatic termination of investment periods.
With SEC rules scuttled, trade group seeks 'something that the industry can work together on collaboratively,' Neal Prunier says.
The new policy would let ACERA’s staff make the decision to roll existing assets or portfolios into continuation funds if that falls in line with ACERA’s financial consultant’s recommendation.