Lps

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.

LPs benefit from offloading tail-end stakes early – study

An LP that reinvests the proceeds into a first-quartile fund would see their portfolio outperform the value of holding the tail-end asset by year two – even assuming a 20% discount, according to research from Upwelling.

UTIMCO scales up PE exposure, considers secondaries market

The endowment increased its 2026 policy target for private equity, looking to hit a 30% allocation mark in coming years.

Hong Kong Jockey Club seeks to offload $500m portfolio

Sports-focused foundation joins a number of APAC institutions seeking liquidity via the secondaries market this year.

CAZ Investments first port of call for GP stake secondaries

The investment firm deployed $700m in GP stake secondaries alone in 2024, including a single transaction valued at over $500m, founder and chief investment officer Christopher Zook said.

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.

Federated Hermes secures $600m pref equity deal from Carlyle AlpInvest

Horizon II, a private equity mandate Federated Hermes was awarded by the BT Pension Scheme, has received the LP-interest financing.

Over half of LPs seek to buy and sell LP-led positions on the secondaries market – Coller

Coller Capital’s latest Global Private Capital Barometer also found that over a third of LPs plan to increase their commitments to secondaries over the next 12 months.

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.

HarbourVest, Blackstone, Pantheon to buy in Yale’s PE portfolio sale

The overall buyers on the deal could account for a portfolio of around $3-$4bn, Secondaries Investor understands.