US

Two reports released in the last month show university endowments are in generally strong financial condition, even as Princeton looks to cut its return expectations.

The lower mid-market buyout firm entered the fundraising market with a target of $350m but closed Guardian Capital Partners Fund IV at $441m.

The pension has been actively pursuing opportunities in the secondaries market over the past few years.

Gridiron Capital Fund VI's target size is up moderately from the $2.1bn raised by its predecessor in 2023 against a $1.8bn target.

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.

More and more LPs appear to be adopting an approach to allocation that could help them avoid portfolio imbalances due to volatility.

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.

Siguler Guff Small Buyout Opportunities Fund VI had as of December secured $1.67bn, or more than three-quarters of its target, according to Form D filings.

The survey found that 86% of private wealth funds aimed to increase allocation to private markets, with venture capital as the most popular asset class.