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Some LPs committing in the later stages of fundraising may find themselves unable to afford the accompanying subscription premiums. Plus: Alaska Permanent writes down some of its private equity portfolio; and Fitch looks to rate NAV loans. Here's today's brief, for our valued subscribers only.

The $257bn pension has been seeking alternatives to secondaries sales to avoid taking massive discounts in such transactions.

Getting to 'the next trillion', president Connor Teskey said, will be achieved by enhancing fundraising channels, scaling product offerings and building and buying new businesses.

CERS’s investment committee approved a new plan that would drop the retirement system’s allocation to private equity to 8% from 10%.

The fundraising represents a 60 percent increase on Castik's previous fund that closed at €1.25 billion in October 2020.

Julia Kohen and Jennifer Levitt will succeed Mary Touchstone, who helped to establish the group.

The $258bn US pension wants to know whether a GP's performance is repeatable – something that's often down to the manager's expertise in sector specialisation, according to senior portfolio manager Wes Bradle.

LP documents shed new light on a raft of notable fundraises, including Thoma Bravo and Advent International. Plus: Oregon State Treasury sees private equity as a drag on its performance; and Atomico closes a new fund strategy. Here's today's brief, for our valued subscribers only.