The Switzerland-based firm was targeting $1bn for its second Asia-focused ‘programme’, a series of vehicles which will invest in primary funds and secondary transactions and also partner on direct investments.
In a move to shift away from equity risk, The State of Wisconsin Investment Board has raised its private equity and real estate targets 1% each and doubled the target of its tactical multi-asset allocation.
The city pension system has halved its earlier proposed 2009 target allocation to private equity due to overweighting.
The $17bn endowment has suffered from declining financial markets, and also said it has been establishing reserves in anticipation of 'substantial' write-downs in its private equity and real estate portfolio.
In another round of private equity investment, China's National Social Security Fund has reportedly given initial approval to two domestic private equity firms, Shenzhen Capital Group and Science & Merchants Investment Management.
The $182bn Sacramento, California-based pension, struggling with the denominator effect, will vote next week on whether to raise the upper limit of its target allocation to real estate and private equity. The pension's real estate portfolio is currently 1.6% overweighted.
LPs are turning away existing relationships as they bump up against their target allocations. Almost two-thirds will sell interests on the secondaries market to focus resources on the best GPs, according to an LP survey by Coller Capital. There has been a 'growing recognition' among LPs of the importance of being with the best GPs.
The $97bn pension, which has lost about $30bn since the end of June, increased the upper limit of its target private equity allocation to account for the denominator effect.
The $182bn pension, struggling with the denominator effect, will vote next week whether to raise the upper limit of its target allocation to private equity and real estate. The fund also has committed $150m to Carlyle’s dedicated financial services fund.
LPs are turning away existing relationships as they bump up against their target allocations. Almost two-thirds will sell interests on the secondaries market to focus resources on the best GPs, according to an LP survey.