Abu Dhabi Investment Authority

PAG has returned around $1bn on average in recent years, PE co-head Lincoln Pan tells PEI.

The upper echelon of this year’s GI 150 ranking collectively holds $930bn in private equity assets – 16% more than last year.

The sovereign wealth giant has raised its allocation for the asset class to up to 15% of total assets and has a bullish outlook on secondaries and direct lending.

Abu Dhabi Investment Authority, California Public Employees' Retirement System and New York State Common Retirement Fund are among the 20 largest allocators to 2022-vintage funds, PEI Group data shows.

LPs had a massive number of private equity funds to consider over the past year – an ongoing dynamic that has caused headaches for those grappling with the denominator effect.

GP and LPs, including the California Public Employees’ Retirement System and Alaska Permanent Fund, have contended with staff turnover at a time of congested fundraising and market uncertainty.

Abu Dhabi Investment Authority and France's largest private markets investment firm are understood to have been in discussions about a deal as recently as mid-October.

The $650bn sovereign wealth fund had raised its allocation to PE up to 10%, per its latest annual report.

The region's $5.4trn of sovereign wealth fund capital has been turning inwards in recent years.

David Bluff and Tammi Fisher, joint managing directors for private equity and real assets, add to a string of senior leadership resignations at Australia's sovereign wealth fund.