Managers

The mid-market strategy will be led by managing directors John DiCola and Francesco Casiraghi.

Pension enticed by perks of pairing up with new managers in current PE environment, plans several-year allocation to Adams Street Partners-managed fund.

The firm expects private markets to benefit from the uncertainty as investors look to insulate portfolios from tariff impact.

Contrary to a report in the Financial Times earlier in the week stating that the turmoil is spurring large institutional investors to explore selling out of private market positions, most LPs are not likely to make such reactionary decisions to sell at steep discounts.

The pension board will choose among allocation strategies that would decrease the amount by which it is overweight to private equity.

Buyout, growth equity, secondaries, venture capital and other private equity funds raised a total of $81bn between January and March, down 16% from $96bn secured a year earlier.

Private equity funds in the first quarter gathered about $180bn between them, $22bn less than the equivalent period last year.

Such models could provide individuals with exposure to private credit, private equity and real estate through a single investment, head of global wealth Shane Clifford tells PEI.

Federal funding cuts and a pending tax on their investment gains are forcing endowments to recalibrate their investment strategies in private markets.

While macroeconomic uncertainty might be conducive to increased secondary activity, there is concern among industry insiders that tariffs could force the secondary market, and continuation vehicles in particular, to recalibrate.