Private Equity
Institutions should not time the private markets or sit out tough years in venture capital as they will miss out on opportunities for attractive, long-term returns, according to a recent whitepaper, which finds that institutions benefit from well-constructed early-stage venture capital programs that have differentiated access, strong sourcing and due diligence processes to navigate a complex market with a challenging exit environment.
The pension plan will review its domestic core fixed-income manager search at an April 26 board meeting and selected a new executive director last month.
The retirement system made up to $250 million in private equity commitments among new and existing relationships.
The approved venture capital commitments to two new investment managers within its portfolio at its February board meeting as it finds artificial intelligence is creating opportunities for the next wave of innovations.
The senior investment officer, which was responsible for portfolio construction and manager selection for the institution’s private equity assets, has left to launch his own private equity firm.
Market enthusiasm generated by the rapid development of new artificial intelligence products has may signal innovation and growth in the long term, though some of that enthusiasm may have led the markets to overvalue some public equity stocks or venture funds in the short-term, according to an outsourced cio.
The pension plan made opportunistic real estate and buyout commitments totaling $275.5 million in January.
The plan also approved a $50 million investment with a new manager within its public equity portfolio at its February board meeting.
The retirement plan committed to a fund-of-funds following finalist presentations at last month’s meeting.
Three large foundations have committed to a women- and BIPOC-led private investment manager’s second private equity fund, which held its final close.
