Pennsylvania State Employees’ Retirement System, a Permira LP, has expressed ‘serious concerns’ about the firm’s planned closure of a Hugo Boss plant in Ohio.
Several institutions have carved out - or considered creating - space for private equity for the first time, countering a retreat by struggling LPs with more experience in the asset class.
The Wes Edens-led firm is approaching LPs in a 2007 $1.2bn co-investment fund for money to pay down debt in the portfolio.
The $47bn pension has $6bn of unfunded commitments to private equity, and has increased its allocation to 21% from 18%.
South Korea's $30bn sovereign wealth fund wants to hike its allocation to private equity to 20% in the next three years, according to the Financial Times.
The $133bn pension committed up to $250m to a Blackstone/GSO fund that will provide capital to distressed companies, and $150m to an Angelo Gordon distressed debt fund.
The ILPA roundtable between GPs and LPs Tuesday had more ‘agreement than disagreement’, according to Joseph Dear, CalPERS' CIO.
UK pension funds are increasingly favouring alternatives, with the average asset allocation rising to 9 percent in 2010, according to Mercer.
The biggest pension in the US sent a letter to UK buyout house Permira with concerns about a planned plant closure in Ohio.
Federal investigators are looking into possible illegal payments made to influence investment decisions at US pensions, including to placement agents.