Preeti Singh
Five years into restructuring its private equity portfolio, the $160bn Florida State Board of Administration limited partner is now expanding its focus into distressed strategies and building its Asia exposure.
The asset manager still expects to cross $100bn in total capital inflows in 2019, having already raised $64bn so far this year.
The co-CEO has led the firm alongside Charles Kaye since 2000, growing its assets more than fourfold while remaining a pure-play private equity player.
The asset class was still the second highest return generator, and the pension system is expanding its programme to help achieve a 7% actuarial rate of return.
Almost 40% of the sovereign wealth fund’s new commitments in 2018 were sourced by its internal team.
Gary Bruebaker steered the pension system through the financial crisis to build out a robust private equity programme.
The endowment will trim its private equity manager list by almost 50% and increase cheques to core GPs to maintain its $3bn annual investment target.
Mustafa Abdel-Wadood admitted to racketeering and fraud, and has agreed to co-operate with the US probe on the fallen emerging markets firm.
The vehicle, which is targeting $375m, is Northlane Capital’s first as an independent manager.
The firm is looking to hire up to four people for its New York office, which will focus on providing service to existing and new US healthcare portfolio companies.