Investors

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.

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

Credit and real estate secondaries could see $7bn and $11bn of deal volume each this year, per advisory reports.

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

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

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

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

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.

Connecticut Retirement Plans and Trust Funds wants to further capture attractive sponsor initiated investment opportunities in addition to the ones it sees via its managers.

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