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Co-investments have given the pension plan a greater insight into its GPs, although finding suitable opportunities is ‘threading a narrow needle’, said director of private equity Michael Bailey.
The firm will need LP approval to continue investing from the vehicle, which has thus far collected $2.75bn against a target of up to $12bn.
Dollar bill
When faced with criticism of its role in markets and society, the private equity industry has always been able to point to net returns as the ultimate vindication. In 2020 that won’t be enough.
The alternatives veteran was terminated for failing to disclose a workplace relationship, according to internal memos.
Ocean wave
Brookfield's $9bn haul for its fifth flagship fund and KKR's €5.8bn for its fifth Europe buyout fund are among the largest funds closed during the month.
CFO Michael Chae and global head of ESG Alison Fenton-Willock explain how the firm gathers ESG data from the private equity giant's portfolio companies.
Look forward
Upswing in sentiment was strong among endowments and foundations in North America, according to research from Rede Partners.
David Enriquez, NYCRS
David Enriquez, head of private equity at the $208bn New York City Retirement Systems, talks co-investments, GP-LP best practices and the ‘white space’ it wants to fill in its portfolio.
The $78.46bn pension made the commitments in September, but staff says they failed to agree on terms with KPS.
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