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Investor Commitments
Some board members asked whether it is reducing the investment opportunity set by consolidating its roster of managers.
%2080.jpg "Putting Jeonju on the GP’s map")
The world’s third largest pension fund maybe going through turmoil, but its alternatives programme still looks inviting to fundraisers.
Proposals suggest removing limits on unlisted securities and raising exposure to illiquid assets.
The fund is more than double the size of its 2013 predecessor.
.jpg "VIA Equity pushes into Germany")
The firm, which is backed by two large Danish pensions, has hired a German dealmaker and established an office in Munich.
Documents from PSERS reveal the fund’s hard-cap and performance details of the firm’s previous vehicles.
The $9bn pension, which is slightly overweight to private equity at 6.3% in actual allocation, plans to commit $1.8bn for the fiscal year ending 30 June 2018.
The $138bn pension fund sees high valuations in private equity as a continued challenge.
The vehicle would be the largest ever for the $189bn private equity firm, which is expected to make a GP commitment of at least 3.5% of total commitments.
The sovereign wealth fund is keeping its private equity commitment plan for fiscal year 2018 mostly unchanged, but it will increase its capacity to co-invest.