LP News

The pension's overall private markets allocations are oriented toward a strong early distribution strategy, according to its pacing plan.

Majority of LPs surveyed by the firm expect to decline to reinvest with some existing GP relationships, with performance cited by many as the underlying reason.

The board of the sovereign wealth fund is considering a proposal to increase its target allocation to venture capital strategies to a range of 10-25% from a range of 0-5%.

CalPERS’ proposed total portfolio approach would aim to provide a more holistic and unified approach to both risk and benchmarking, eliminating the silos between asset classes.

A large share of AIMCo costs deemed excessive by government authorities were incurred to ramp up the pension system’s exposure to alternative assets, sources said.

VCERA’s chief investment officer, Dan Gallagher, recommended launching the new program next year, starting with a $20m allocation.

LACERA will be allowed to commit up to 35% of its private equity allocation to secondaries or co-investments, and up to 20% of the allocation to funds of funds.

The Canadian province’s legislature, led by premier Danielle Smith, dismissed AIMCo’s CEO, Evan Siddall, along with three other board members last Thursday.

The sale comprised 13 fund investments, eight of which held vintages of 2013 or earlier, with the funds offloaded for an adjusted purchase price of $737.1m, according to documents seen by Buyouts.

The $72.5bn retirement system gave a verbal update during its October 24 investment committee meeting that it had closed a deal on September 30.