Performance

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 $153bn pension wants to increase the programme to 35% and double its investment team.

Private equity performance in recent years has been characterised by shortened time to liquiduty and soaring TVPIs.

Examine five key issues for impact investors, ranging from whether there is a sufficient opportunity set to what returns LPs might expect to receive.

In this two-minute video, the Russia veteran explains why rule of law and property rights are crucial to a successful investment.

Offloading a $1.3bn portfolio to Ardian helped push the pension system to a since-inception DPI capital ratio of 1.0x.

European LPs are more tolerant of lower debt-like returns from impact funds, co-founder Urs Baumann told delegates at the Credit Suisse Asian Investment Forum in Hong Kong on 27 March.

The pension system is 121% funded and returned 2.17% last year, compared with 10.88% in 2017.

PEI revisits its performance watch series with updated Q4 earnings data.