Lagging valuations from private equity and real estate holdings have caused GIC's alternatives exposure to drop five percentage points.
Family offices are expected to help boost secondaries dealflow in the last months of 2010, as many seek to replace existing LP stakes with emerging market exposure.
The firm closed its $8.8bn Fund VII in October 2009, but is still investing from its 2006 Fund VI, a situation that one LP calls ‘a little weird’.
The initiatives are among several - including support of a state bill forcing placement agents to register as lobbyists - designed to ‘restore confidence, integrity and accountability’.
The US state’s $63bn pension, which has not made a commitment since 2008, currently has a 7% private equity target.
Investors speaking at a recent conference in New York feared an overcrowded market and capital overhang will drag on returns.
The latest fund close is the firm’s third this year, representing $4.1bn raised across three strategies.
Corporate pensions, foundations and endowments have continually increased their allocations to private equity over the past four years, according to a series of surveys by asset manager SEI.
Chicago-based GTCR plans to raise $3bn for its 10th fund.
The $27.4bn endowment – one of the private equity industry’s most influential LPs – will continue to be an active player on the secondaries market, concentrating on ‘best-in-class’ managers.