Performance

The use of credit facilities to delay capital calls is now widespread. What is at risk?

The Boston-based pension system is awaiting board approval to increase its private equity allocation from 10% to 11% of its $62bn fund, after the asset class outperformed all others in 2016.

The private equity performance at the second-largest US public pension fund has lagged due to a specific mandate that targets niche, underserved sectors and areas in California.

The $107.5bn state pension’s private equity failed to outperform its benchmark for all six time periods observed as of 30 September.

In the fiscal year ended 30 June, the US’s largest pension fund saw a drop in its PE portfolio performance – both compared with the previous year and with its benchmark.

US private equity market participants anticipate valuations to decline and deal flow to accelerate in the next 12 months, with a horizon set for possible regulatory and policy changes.

More than a third of limited partners believe a hard Brexit would lower European private equity returns, a survey finds.

PRIM, which has been building on its co-investment programme to cut fees and carry, has steadily reduced carried interest expenses in the past few years.

The Canadian pension fund’s private equity portfolio had been steadily increasing, marking a 5% quarterly increase in its fiscal second quarter ended 30 September.

Cambridge Associates’ US private equity index posted a 3.98% net IRR in Q2, the highest since it reached 5.44% in Q2 2014.