Preeti Singh
The restructuring will allow CalSTRS to invest in ‘non-traditional’ private equity strategies with different return expectations and focus on co-investments.
The pension has to ask funds it invested in before 2017 if it can make their fees and expenses public, and almost half said no.
Clearlake expects to close its second opportunities fund by the end of May, according to Connecticut Retirement Plans and Trust Funds documents.
Fund XIII is 60% larger than its predecessor and was raised in a matter of months.
The former KKR Americas head has been focused on building the infrastructure of Navab Capital Partners before it starts fundraising.
The new platform will sit within the firm's secondaries unit, Strategic Partners, and work with existing impact managers across all asset classes.
An abundance of young investments in the current generation of funds is largely behind the lower revenues, the firm said on its Q1 earnings call.
The firm expects to close its latest fund in May, according to Rhode Island State Investment Commission documents.
The seasoned investor recently left the $55bn multifamily office Stonehage Fleming in London to move to Paris.
Eric Glass, who oversaw the $40.4bn US pension’s private markets portfolio, has left to start a real estate investment firm, PEI has learned.