Pensions

The decision comes as part of ERS Texas’ continued commitment to the private equity asset class, bumping its fiscal year 2024 target up $50m from last year’s $600m targeted commitment.

Secondaries Investor reported in March that Goldman Sachs and AlpInvest Partners were investors in the deal involving global life science ingredients distributor Barentz.

In taking over from Suyi Kim, Gubbels will become the Canadian giant’s second consecutive female private equity head.

The new policy would let ACERA’s staff make the decision to roll existing assets or portfolios into continuation funds if that falls in line with ACERA’s financial consultant’s recommendation.

The decision to increase small/medium buyouts’ portfolio share falls in line with other large public LPs.

Martin Longchamps, head of private equity at the $319bn Canadian giant, discusses how secondaries sales helped bring the pension’s PE allocation back on target.

The deal is part of a series of large LP sales driven by liquidity concerns, the need to rebalance investment exposures in investment portfolios and strong pricing for high-quality private markets funds.

LPs are turning to the secondaries market to address liquidity constraints amid improved pricing, as compelling supply/demand dynamics and structural innovations help fuel LP-led dealflow.

The €255bn unit of French financial giant BNP Paribas Group wants to sell a bundle of private equity and infrastructure stakes, Secondaries Investor has learned.

The Dutch pension giant had brought a portfolio worth $2bn-$3bn to market, Secondaries Investor reported in June.