Australian pension funds are stepping up direct lending to companies, following their global peers into the booming market for private credit in a hunt for higher-yielding assets.
A California pension plan added a pair of private equity commitments and will review responses in its ongoing search for domestic small-cap equity emerging managers.
Why are public pension plans so poorly funded? Sure, you can blame politicians’ meddling, or irresponsible benefit increases, or decisions to take contribution holidays, but, to take the Chicago Teachers’ Pension Fund as a case study, it was not designed to be funded in the first place.