Lps

Florida SBA’s Bradley: CVs not so attractive ‘when we put our LP hat on’

A key concern is that a GP may not have market-tested the highest selling price of an asset, according to the $212bn pension’s senior investment officer for PE.

New Jersey explores $1bn-plus secondaries sale

The pension joins several large North American LPs that have considered or already sold more than $1bn of private markets exposure this year.

NYS Common commits $550m to TPG’s GP-led strategy

The pension committed $500m to GP Solutions II’s predecessor, marking the biggest commitment made to a secondaries fund last year.

Singaporean multifamily office plots private markets push under new alts boss

Lili Wang is evaluating new product strategies across private credit, private equity secondaries and real estate.

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.

Nebraska endowment’s CIO: ‘Discounts aren’t as extreme as we’d like’

The $3bn University of Nebraska Foundation sees ‘some value’ as a buyer in syndicated portfolio sales comprising 50 fund stakes, according to CIO Brian Neale.

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.

Top academic’s machine learning model rethinks secondaries pricing

Oliver Gottschalg, professor of strategy and business policy at HEC Paris, has created a model to value secondaries fund stakes that analyses top-down factors, turning the market’s bottom-up approach on its head.

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.