The private equity secondaries market is seeing a sharp uptick in first-time allocations, according to a leading investment consultant, marking a sea change in fortunes for a once unloved asset class.
Instead of investing in American companies, Investment Officers like Yu Ben Meng were investing pension funds in Chinese Communist Party high-tech companies.
Fiscal 2021 was a record year for the Massachusetts state pension fund, which closed the one-year period ending June 30 with the highest return in its history and invested assets that swelled to a record $95.7 billion.
Cetera announced today that Brumbaugh Wealth Management, a Pennsylvania-based wealth management firm with more than $300 million in assets under management, is affiliating with Cetera Advisor Networks through a relationship with AdvisorNet Financial.