Side Letter: PSERS postpones, Mid Europa eyes GP-led deal, Silver Lake debt play

ESG can mean the difference between receiving a re-up from a long-standing LP and potentially not, as one US buyout firm is about to find out. Here’s today's brief, for our valued subscribers only.

PSERS postpones vote on US buyout fund over ESG concerns

Advocacy groups raised concerns with the US pension about Platinum Equity portfolio company Securus, which manages inmate phone systems for state prison systems.

Ireland SWF: ‘Partnerships are critical’

The €8.9bn Ireland Strategic Investment Fund, which manages a tech fund alongside China Investment Corporation, sees direct equity partnerships as vital to its investment strategy.

LPs bearish on PE returns as competition becomes top concern

Concerns over dry powder and pricing have prompted institutional investors to expect diminished performance over the next three years.

SWFs go big on tech, healthcare directs – report

Sovereign wealth funds want more exposure to disruptive, tech companies and doubled early-stage investments last year, according to an industry body.
Singapore

Temasek’s latest private equity-backed CFO portfolio in three charts

KKR, Warburg Pincus and TPG-managed funds are included in the Singaporean state investor unit's latest securitised offering.

Investcorp acquires placement firm Mercury

The transaction is part of the Bahrain-listed firm’s expansion and global growth plan to boost its AUM to $50bn.
Melbourne, Australia, time

Why Australia’s BGH needn’t worry about slow deployment – yet

TPG veteran Ben Gray’s firm is understood to be using credit lines to avoid fee-drag on Australia’s largest first-time fund.

How Rhode Island plans to use secondaries to boost its PE exposure

PEI speaks with senior investment officer Jonathan Popielarski about the types of fund stakes the US pension wants to buy so it can hit its 11% target allocation.
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