Investment Allocations

The UC Board of Regents will up its PE allocation for its $9.9bn endowment at the expense of public equities and fixed income, but said it will take its time and doesn’t want to ‘just fill a box’.

A LACERS board member says there is ‘nothing more important’ than focusing on emerging managers in its private markets investing.

The increase is part of the $11bn pension’s effort to meet its new long-term private equity target allocation of 8%.

The planned commitment is up $20m from the pace achieved in 2016.

The C$270bn Canadian pension and insurance asset manager’s net private equity assets also rose 16% from 2015 to 2016.

The $2.6bn pension fund increased the amount it committed to the asset class in 2016 in an effort to reach its new target.

A new global benchmark shows LPs expect to commit more capital to the asset class in the coming 12 months.

Several private credit investments partly contributed to the increase, pushing private equity to 21.2% of the pension’s total assets.

The firm reiterates intent to raise about $100bn between 2016 and 2019.

The Oregon State Treasury’s international private equity exposure, so far divided between Europe, Asia-Pacific and global, will hone in on the latter as it curtails its number of GP relationships.