Limited Partners

The original size of the portfolio CalPERS brought to the market is understood to be between $2.3bn and $3bn.

A majority of LPs are concerned about the ‘influence’ retail-oriented partnerships could have on the strategies of GPs, a Coller Capital survey found.

The new questionnaire asks GPs to disclose details including transaction terms and asset returns.

While the list of the largest known LP commitments remains dominated by US-based investors, it also reflects a growing presence of non-US institutions from Asia and the UK.

Under the TPA an LP’s selling decision is more likely to be driven by opportunistic considerations, rather than breaches of asset allocation targets.

Secondaries professionals share their insights into what they believe will continue to drive market activity in the New Year.

The sale is expected to be the first in what could be a series of fund stakes offerings by the sovereign fund as it works to manage its portfolio.

This year’s top deals include two sales from LPs without programmatic selling backgrounds, two CV-on-CV deals and a sizeable credit CV, as well as some honourable mentions on smaller, yet innovative processes seen this year.

Secondaries has become a popular portfolio management tool for large US endowments like Yale and Harvard.

New opportunities are arising for LPs, but there are ongoing pain points to address.