Pensions

Mozaic Capital is advising on the process designed to rebalance the pension’s $120.5bn portfolio, amid the resurgence of LP-led deals.

The acquisition of the BlackRock single-fund position could presage opportunity for pensions with a lower cost of capital than typical secondaries buyers.

The $25.3bn US public pension wants to sell private equity fund stakes and divest of non-strategic relationships, documents show.

The $95bn state pension had an 11.1% allocation to private equity over a 7% target prior to the transaction, according to Secondaries Investor data.

The $81bn sovereign wealth fund is considering hiring an adviser to feel out pricing in the secondaries market, CIO Marcus Frampton said on Tuesday.

GPs can be at the mercy of even the weakest connections to adherence to ESG standards – real or perceived.

The US public pension is also under-allocated to secondaries versus its target, due to the denominator effect.

Community organisers cited the secondaries firm’s 2019 investment in Pretium Partners, whose portfolio company HavenBrook is facing scrutiny.

The preferred equity specialist is on track to nearly double its AUM with the latest flagship vehicle.

The firm’s outlook and performance were outlined in documents obtained from the Minnesota State Board of Investment.