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Although HNWIs have not been precluded from acquiring positions in pre-IPO businesses via the secondaries market, the process can be complex and fraught with risk.

In the firm’s Q2 earnings call, Jonathan Gray pointed out where in private markets he thinks investment from defined contribution benefit plans will get directed to first.

The newly formed investment arm leveraged the full power of Blackstone for its $4.6bn fundraise, and continues to do so as it deploys the fund.

Versus investing as an LP in PE funds, LACERA could benefit from regular and stable cashflows and the growth of GPs if it gets into the GP stakes market, according to a staff review in July.

Co-investments play a large role in the $246bn pension's 'Collaborative Model,' which seeks to bring more investment activities in-house.

PEI's interactive chart takes a look at some markets beyond the US that permit defined contribution plans to invest in private equity, and the regulations governing their participation.

The firm’s ninth flagship fund, which was launched before the pandemic, has a €15bn hard-cap.

The proportion of family offices intending to increase their direct PE activity also nearly halved during the pandemic, a study by UBS has found.

Ravi Thakran is open to partnering with existing firms boasting complementary strategies and has the support of several former colleagues, he told PEI.

The private markets firm expects to raise up to $15bn from LPs this year, lower than its projection in January, due to the impact of covid-19 on new commitments.