Pensions

California’s Orange County to cut fund of funds exposure through secondaries sales

The $25bn pension expects to use both the GP-led and the LP-led markets to offload indirect private equity exposure.

CalPERS shops $3bn PE portfolio as it works to reconfigure programme

Bids on the portfolio were due this week, with the expectation that the process closes by end-September.

Superfund Colonial First State eyes secondaries as path to private markets growth

Secondaries will be a ‘really important’ part of the $104bn wealth manager and retirement plan provider’s initial build-out.

APG tries again with large portfolio sale after pulling process last year

The Dutch pension administrator’s sale is part of a wave of sales processes that institutional investors are using to help manage their programmes amid an exit drought and a slowdown in distributions.

Milwaukee pension resists secondaries sales despite overallocation to PE

CIO of $6bn Midwest pension would prefer the system remain ‘more of a buyer than a seller’ when it comes to private equity funds.

CalPERS could look for buyers for covid-era PE investments

While CalPERS has been a net buyer of secondaries in the past, poor distributions from private equity assets in these particular vintage years would cause the LP to look at opportunistic sale processes of certain managers.

Florida SBA’s Bradley: Retail capital driving down secondaries returns

The $200bn pension now places a greater focus on the CV market, which is less crowded by retail capital, according to senior investment officer John Bradley.

Targeted returns and milestones revealed for sizeable infra secondaries raises

A North American pension fund is exploring commitments to six funds managed by Ares, Blackstone, HarbourVest, Macquarie, Pantheon and Partners Group.

Amid volatility, superannuation funds may look for buying opportunities

While Australian super funds may buy ‘if the price is right’, these pensions are closely monitoring the long-term impacts of current volatility.

APG mulls infra secondaries return amid direct investment drive

Having last acquired infra secondary assets in 2017, the €616bn Dutch pension manager may tap the fast-growing market again, says infra chief Jan-Willem Ruisbroek.