New Jersey Division of Investment, a long-time investor in JLL funds, is committing $200m to the new flagship, accounting for more than one-fifth of the target.
CalPERS’ proposed total portfolio approach would aim to provide a more holistic and unified approach to both risk and benchmarking, eliminating the silos between asset classes.
A large share of AIMCo costs deemed excessive by government authorities were incurred to ramp up the pension system’s exposure to alternative assets, sources said.
Warburg’s move comes as several other large GPs have built out internal secondary capabilities, including TPG and Leonard Green.
If private equity fundraising rebounds next year, as is widely expected, how can first-time GPs give themselves the best chance of success?
VCERA’s chief investment officer, Dan Gallagher, recommended launching the new program next year, starting with a $20m allocation.
The recommitment to its core strategy will allow the firm to potentially take advantage of the environment, in which corporate carveout activity is on the rise.
Featured thought leaders at the March 2025 summit also include Thoma Bravo’s Orlando Bravo, Luminate Capital’s Hollie Haynes and TPG’s Jon Winkelried.
The Boston firm last month closed Bain Capital Global Special Situations Fund II at $4.1bn, ahead of its target, sources told Buyouts.
It would be tragic if government intervention results in the tearing down of AIMCo, an innovative public pension system with a significant presence in alternative assets.