Lps

StepStone lines up on World Bank LP-led deal alongside Blackstone

Both firms are understood to have purchased an equal amount of the roughly $1bn portfolio.

Munich Re on the co-invest dealflow ratio fallacy

MEAG MUNICH ERGO, the asset management arm of European insurer, would rather see one good co-investment opportunity than be shown multiple bad ones, says head of PE and co-investments Gregory Schmitt.

DOWNLOAD: The biggest LP commitments to secondaries funds in 2024

The New York State Common Retirement Fund made the two largest commitments last year to funds managed by TPG and Blue Owl.

World Bank closes around $1bn sale to Blackstone Strategic Partners

LP-led deals saw a record $87bn volume last year as pricing continued to increase, according to a report from Jefferies.

Secondaries deals are on the cards for Australia’s Aware Super

The fund, which manages around $110bn on behalf of nurses and teachers, is heading towards its private markets allocation targets after a period of build-up and growth. In this podcast, Deputy CIO Damien Webb discusses the fund’s view of the secondaries market.

UK’s biggest private pension urges GP transparency around CVs, NAV loans

There have been cases when continuation funds have been ‘misused and overused’, according to Teia Merring, senior investment director at USS and chair of ILPA.

London pension scheme eyes secondaries for new private debt vehicle 

The UK pension fund is about to close its second private debt fund, which it aims to scale to £500m, and is looking to consolidate GP partnerships.

LPs view CVs as a useful exit tool – with a large caveat

Coller Capital’s latest barometer has found that most investors see the main purpose of continuation funds as providing an alternative to selling assets at a low valuation.

NYC pension systems disclose details of multi-billion sale

The New York City retirement systems confirmed that four of the five NYC pension funds are involved in the large LP-led secondaries transaction.

NYCERS explores $1bn-plus LP-led secondaries process

NYCRS, which oversees five pensions including NYCERS, has a secondaries programme in place with long-term targets ranging from 10-20% of its total PE portfolio.