Annabelle Ju
Private equity performance for Canada's largest pension, which had C$59bn in the asset class at 31 March, was boosted by higher returns in the domestic and foreign developed market segments.
The $320bn pension, which allocates 8% to private equity, spent less year-over-year in management fees in 2015 and less than its peers.
Deal value in the secondaries market dropped slightly last year, but billion-dollar transactions in the pipeline should ensure a better 2017.
The advisory firm and placement agent hired a former Champlain Advisors partner who will focus on energy and real assets opportunities.
The $315bn pension plan wants its internal PE investment team to focus on identifying skilled managers rather than worrying about meeting the target asset allocation.
The troubled pension has generated $245m in cash inflows so far from a series of secondaries sales that began in December.
Funds are using a range of valuation methodologies for unicorn companies, raising a red flag for the regulator.
The $311bn pension fund’s former CFO left last month for a similar position at her alma mater in British Columbia.
The endowment had previously sold about $1.7bn in private equity fund stakes in an effort to cut down its number of manager relationships.
The pension exited two funds in February and is under contract to sell 10 more private debt and real estate fund stakes worth $88.91m by the end of March.
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