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Copenhagen Denmark

Danish pension’s investment arm to quiz GPs on credit lines – exclusive

ATP PEP will ask GPs to provide an IRR that has been adjusted to compensate for the use of subscription credit lines, managing partner Torben Vangstrup told PEI.
London

UK’s BMO reports exit slowdown amid ‘real risk’ of recession

The £287m NAV trust posted £25.4m of total realisations and income in H1 2019, down from £29.9m at the same point last year.
Illinois Municipal's Dhvani Shah

How Illinois Municipal designed its PE programme around its constraints

Private equity must outperform all other strategies for the pension plan to reach its assumed rate of return, says chief investment officer Dhvani Shah.

How Arizona PSPRS plans to overhaul its portfolio

The pension system is combining alternative assets into one pool and will re-assess all GP relationships, trimming for better strategic partnerships.
Performance

PE performance benchmarks need to evolve

LPs are changing their approach to PE performance as they seek to ensure ongoing alignment with GPs.
Down under: private equity performed worse than Australian listed property and global listed infrastructure in superannuation funds' portfolios

Aussie supers’ PE returns drop ahead of ‘challenging’ conditions

Private equity was the third-best performing asset class for the past year, behind Australian listed property at 19.4% and global listed infrastructure at 14.9%.
Chart, decline

Blackstone’s private equity returns fall in second quarter

The asset manager still expects to cross $100bn in total capital inflows in 2019, having already raised $64bn so far this year.
Charts

CalPERS’ private equity returns fall by 50% in fiscal 2019

The asset class was still the second highest return generator, and the pension system is expanding its programme to help achieve a 7% actuarial rate of return.
Stockholm, Sweden

AP4’s alts team gears up for more PE in 2020

The Swedish pension fund plans to make more direct investments in PE, infrastructure and credit.
Vietnamese market

Vietnamese private equity: A beginner’s guide

As Vietnamese PE activity skyrockets, PEI outlines the country's key players, hottest sectors and expected returns.
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