LP News

The sovereign wealth fund will look toward more investments in venture capital funds, along with wider definitions of in-state impact, in an attempt to revamp the program.

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

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.

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

Plannera was launched last year in part to advise on decisions about allocating capital to private equity and other alternative asset classes, a top priority for its two largest Saskatchewan pension clients.

The decision to raise the target allocation was attributable to both the fund’s existing private equity allocation and in anticipation of a more favorable investment environment, according to the pension fund’s private equity adviser, NEPC.

The fund expects to commit an average of $345m per year to private equity over the next five years, according to board documents.

'So we like GPs that have an exit committee or a real disciplined process around managing exits,' Kadziela explained during an interview on the sidelines of PEI Group's NEXUS 2025 conference earlier this month.

A review of the pension’s portfolio found much of its 'private equity' portfolio was not in corporate buyouts.