Annabelle Ju
Based in New York, Annabelle Ju covers North American institutional investors and fund regulation as the US Private Equity Reporter for Private Equity International and private funds management. She previously reported on market structure at Bloomberg and obtained her Master of Science degree from Medill School of Journalism at Northwestern University.
Molly Murphy will be responsible for implementing asset allocations adopted in January, including an increased private equity target to 8%.
Former CalPERS board member Michael Flaherman raised the issue of fund-level leverage use by GPs for the second time at Monday’s meeting, after no action was taken following remarks he made in December 2015.
The $25bn pension fund, which had 13% in private equity as of 30 June, forecasts $500,000 in investment cost savings as a result of increased co-investments in the asset class.
Roland Lescure, who more than doubled private equity assets during his tenure at the Canadian pension plan, is running for representative of French expats in North America in the French legislature.
The private equity firm is seeking a court judgment that it is not liable for pension payments due to employees of bankrupt portfolio company Marsh.
Once Meketa begins its 5-year contract in July, it will prepare to review Connecticut’s asset allocation, which currently includes an 11% target allocation to private equity.
The $320bn pension, which allocates 8% to private equity, spent less year-on-year in management fees in 2015 and less than its peers.
.jpg "Wilshire backs CalPERS’ new PE benchmark proposal")
The new benchmark would still apply if private equity, which represents 8% of total assets, is combined with public equity as recently suggested by CalPERS.
Private equity capital raised by tech-focused firms among the 30 largest GPs has expanded by more than six times from 2013 to 2017.
Private equity fundraising for the next generation of funds will account for a third of the $100bn that Carlyle is seeking to raise over the next few years.