LP Insight

The nation’s second largest pension system sees potential for greater returns and adding to sustainable investing by increasing its allocation to private equity.

Massachusetts Pension Reserves Investment Management Board, which recently backed two new funds from Union Square Ventures, is looking to give chief investment officer Michael Trotsky more flexibility on VC fund investments.

San Jose Federated City Employees’ Retirement System has outlined $149m for investment into private markets for FY 2022-23, according to its proposed pacing model for private markets.

Ventura County Employees Retirement Association, which has backed seven VC funds in the past two years, has raise its target allocation to private markets by 2 percent.

CIO Jonathan Grabel says the pension is continuing to gain exposure to climate-related opportunities.

“The rules regarding special treatment for some LPs over others could be more eloquently crafted and should rely more on disclosure than prohibition,” says Maryland State Retirement and Pension System CIO Andrew Palmer.

Council of Institutional Investors, which represents 140 of the largest public and union pension funds, asks SEC to "consider improving the final rule by requiring that private fund advisors provide pro-rata fee and expense reporting at the LP level upon request of the LP.”

The Japan Science and Technology Agency's university endowment will initially rely on gatekeepers until it has enough internal resources to invest directly, says PE head Yasuyuki Tomita.

Elimination of preferred treatment could even the playing field but have other consequences.

Border To Coast Pensions Partnership, a £22bn UK pension pool, has earmarked £1.35bn for climate funds. About 20 percent of the total will go to venture capital.