The UK’s £3.9bn pension lifeboat, which earlier this year created a 20% allocation to alternatives, will hire managers to run a credit strategy within the alternatives carve-out.
The firm, co-led by Mark Patterson, was granted a one-year extension on the investment period for its $5bn third fund.
The $132bn pension is making a big commitment to identify ‘errant’ GPs as part of a process to reduce its relationships.
Robert Grady’s appointment bodes well for the state’s young PE programme, which has slowed down activity because of overweighting.
GPs think they are good communicators. LPs may not agree.
Cambridge Associates will advise the $30bn pension on its fledgling $169m private equity portfolio, which was launched last fall.
The $24bn pension has been pulling back from private equity since last year as it battles severe over-weighting to the asset class.
The city’s pension system has spent up to $300m of the $1.4bn target this year, according to chief investment officer Lawrence Schloss.
As part of the $200bn pension’s fee review, Ares Management as well as an activist investment fund have agreed to cut fees and not use placement agents when soliciting commitments from CalPERS.
The $94bn pension fund has started webcasting its board meetings following a growing trend among US public pensions to have live feeds of its sessions.