Brett Johnson
The sovereign fund is bolstering its exposure to private equity and other private assets following several years of record cash inflows from oil revenues.
The $82bn pension’s staff are expressing confidence in the direction of the portfolio despite relinquishing a spot as a top performer from early PE programme.
Pension CIOs representing decision-making power behind collective $850bn in assets acknowledge past investment calls ‘wouldn’t work the same going forward.’
The sovereign fund has seen relatively strong PE performance, despite experiencing a slowdown in distribution activity.
Oaktree’s co-founder argues that private and public debt can be equally risky, and draws a distinction between risk and volatility.