Limited Partners

LACERA proposes guidelines to up allocation to secondaries

LACERA will be allowed to commit up to 35% of its private equity allocation to secondaries or co-investments, and up to 20% of the allocation to funds of funds.

Blackstone was sole buyer of PSERS’ secondaries sale

Pennsylvania Public School Employees’ Retirement System’s sale included stakes in funds managed by New Mountain Capital, Apollo Global Management and Platinum Equity.

PSERS sells $820m PE portfolio as it works to shrink exposure

The portfolio sale included full stakes in assets with vintages of 2013 and older and other partial stakes.

Ham Lane and StepStone pick up BNP insurance arm’s PE and infra sale

The €255bn insurance arm of French financial giant BNP Paribas Group had brought a portfolio to market earlier this year.

Dawson picks up Dutch pension manager MN’s €1.5bn portfolio sale

MN brought the portfolio of private equity fund stakes to market this year, affiliate title Buyouts reported over the summer.

ILPA appoints former business development exec to lead Europe office

Bart van Dijk joins from global compliance firm CSC and is the industry body’s first regional head outside North America.

LPs view single-asset continuation fund risk just like co-investments

When a CV asset goes bankrupt, if the restructuring plan calls for equity to be wiped out to make sure creditors are repaid, that includes CV investors and rolling LPs.

Florida SBA to explore private credit secondaries

The institution wants to understand “how deep the private credit secondaries market is” after seeing stellar returns from PE secondaries, senior portfolio manager John Mogg said in a recent advisory council meeting.

Will AI introduce new tools to the LP trade?

LPs are exploring the use of advanced technologies such as AI to enhance workflows and aid investment decisions, but the human element remains key.

Florida SBA faces setback in efforts to introduce securitisations

The $257bn pension has been seeking alternatives to secondaries sales to avoid taking large discounts in such transactions.