Managers

GPs are navigating the toughest fundraising and investment conditions since the 2008 financial crisis.

The nation’s largest pension system’s emerging manager commitment flies in the face of many other public allocators that have emphasized re-ups with existing relationships.

The Harvest process allowed LPs in the firm’s seventh and eighth funds to sell their stakes at relatively high prices compared to other recent deals.

An LP opening its wallet for a GP in today’s fundraising market is a big move of confidence, especially if it represents the formation of a new relationship.

'We could even go further but we decided to take a smaller step if anything,' West Virginia CIO Craig Slaughter said.

Fundraising is slowing as LPs slow their pace of deployment amid overallocation pressures and dwindling distribution activities.

Zombie funds, LP substitutions and a dealmaking rebound could be on the cards for the Asia-Pacific private equity markets this year.

Public systems are reviewing PE pacing as they face overallocations and potential writedowns in the portfolio.

GP and LPs, including the California Public Employees’ Retirement System and Alaska Permanent Fund, have contended with staff turnover at a time of congested fundraising and market uncertainty.

LPAC seats offer systems many advantages – if they can obtain one.