A majority of LPs will be looking to maintain their allocation levels to private equity, or even decrease those levels, and most will only have a limited interest in meeting new GPs, according to a survey from Probitas Partners.
Conrad Yan will lead Campbell Lutyen’s nascent Hong Kong office, which has made three other hires for its Asia Pacific activities.
The Abu Dhabi-backed investment group will pour $500m more into the global private equity firm, which it will use to further expand its business lines.
The $220bn US public pension system will allocate 63% of its assets to its ‘growth’ pool of public stocks and private equity holdings.
Limited partners think they can sidestep sagging private equity returns by constructing more concentrated portfolios. A survey suggests LPs will narrow GP relationships in 2011.
The $24.4bn pension has cut its long-term allocation target to private equity from 24.5% to 15% as it follows a strategy of only committing capital to existing managers.
The US investment advisor has appointed private equity specialist Christopher Hunter to head its Beijing office, which is the firm’s third office in Asia.
Gerry Grimstone will step down as chairman of Candover Investments as the investment team breaks away to form a new entity, Arle Capital Partners.
The $14.5bn state endowment has published a request for proposal for a national private equity consultant.
Tulane University’s $1bn endowment has made the most of the financial downturn by getting into top-quality funds.