Investment Allocations

The $388bn pension fund will need to expand its core managers list and SMAs to reach its target allocation, consultant Meketa told the pension's board on Monday.

Performance details of the firm's last five flagships were disclosed in pension documents obtained by Private Equity International.

A lower annual pacing plan would lead to a reduction in co-investment opportunities and preferential treatment from GPs, according to November investment committee documents.

The UK development finance institution's South Asia head speaks to PEI about sectors impact funds should focus on and why it's hot on debt.

Small- and mid-cap funds have been alpha generators for the pension system's PE portfolio, according to chief investment officer Farouki Majeed.

'Parts of the legacy portfolio do not have a prospect of generating a return commensurate with the risk and the illiquidity entailed, and may not provide a return at all,' CIO Narv Narvekar wrote.

The pension system has reviewed opportunities from more than 20 GPs and made more than 54 private equity co-investments.

Almost two-fifths plan to raise their PE exposure over the next 12-24 months, a report from the asset management giant finds.

The pension system picked up secondaries stakes in Industry Ventures, Paine Schwartz and Eureka Equity funds.

Commitments to fewer managers and sale of non-core managers on the secondaries market led to mega and large buyout funds exposure dropping by 29.5% from December 2009 to Q1 2019.