Hannah Zhang
The $257bn pension has been seeking alternatives to secondaries sales to avoid taking massive discounts in such transactions.
Julia Kohen and Jennifer Levitt will succeed Mary Touchstone, who helped to establish the group.
Secondaries fundraisers find success through specialisation.
The market’s largest legal advisers worked on more than $800bn of transactions last year, marking their second busiest annual period.
Secondaries funds can deliver outperformance compared with PE buyout funds due to their diversification and asset-screening processes.
Florida State Board of Administration believes securitisations could be a better option than selling fund stakes if LPs must take massive discounts.
China’s booming LP-led market is offset by a nascent GP-led market and challenges unique to international investors.
The $105bn system's co-investment programme now makes up just over 10% of its private equity portfolio.
The target amount sought for Long Term Private Capital II could change, Private Equity International understands.
Despite a couple of pulled-transaction anomalies, secondaries sales are still seen as a powerful tool for rebalancing portfolios.