Pensions

In today's edition, Why the total portfolio approach isn't for all LPs; Tikehau doubles its annual realisations; A report says LPs are increasingly worried about valuation-related conflicts.

In today's edition, How Germany's nuclear waste management fund maintains stability; Private equity exposure could be impacting SBCERA's near-term returns; Vitruvian is running an unconventional secondaries process.

While evaluating whether the more holistic approach to investments would be suited for the $230bn pension, the CIO said he was dubious about expected outperformance under the new approach and other suggested benefits.

The California pension’s board, after voicing skepticism about the fund’s increasing PE exposure last month, grilled its consultant on subpar near-term performance.

The €27bn retirement fund is more relaxed about investments in private equity than infrastructure in the US, says head of private capital and real assets Jeppe Starup.

California pension has relied on a pair of funds of funds managers, Abbott and Pathway, to make investments in its PE portfolio since its inception two decades ago.

The $123bn pension system's latest ambitions follow the creation of a GP-led-focused investment role in 2024.

How scarcity value is impacting the secondaries gold rush; why PE portfolios could have a maturity issue; StepStone defies headwinds to post a record year of fundraising.

Executing allocation changes to unlisted assets is neither simple nor fast.

The potential adoption of this strategy follows in the footsteps of CalPERS, which implemented a total portfolio approach this past November.