Institutional Investor

Private debt secondaries luring LPs across the board

Investors from German insurer Munich Re to Lithuanian family office Willgrow are jumping into the nascent asset class or considering doing so.

Malaysia’s KWAP looks to increase PE secondaries exposure

The $38bn pension fund targets 40% in buyouts, 30% in secondaries, 20% in growth and 10% in venture capital within its PE portfolio, says CIO Hazman Hilmi Sallahuddin.

Why Japan’s $74bn university endowment is leaning into secondaries

The fund has increased its secondaries budget to capture opportunities arising from market uncertainty, says private equity head Yasuyuki Tomita.

Number of family offices backing secondaries on the up – Goldman Sachs

Family offices’ ability to provide patient capital to private markets while other investors face liquidity constraints is further fuelling interest in the secondaries market, according to a report.

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.

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.

No one size fits all for LP-leds

Some LPs are thrilled with the options being offered amid rising portfolio sale activity, while others are less receptive.

‘This will not be the last time that we sell’ – NYCRS‘ Kadziela

Four out of NYCRS’ five pension systems are selling a more than $5.5bn portfolio to Blackstone Strategic Partners in a deal set to close at the end of March.

Malaysia’s EPF shops $1bn portfolio

The pension fund’s portfolio is the latest LP-led deal to come out of the APAC region.

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.