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Gregg Gethard

Abbott Secondaries Opportunities Fund III is slated for a first close next month, documents from a US public pension show.
CRPTF's investment advisory committee approved $350m in commitments, split equally between HarbourVest’s latest flagship secondaries fund and a connected co-investment vehicle.
Details of the firm's Dover Street XI fund and HarbourVest’s Secondary Overflow Fund V were included in board documents for a US public pension plan this month.
The $72.4bn pension system's commitment pertains to a continuation vehicle for Esdec Solar Group, board documents show.
Arkansas flag
The $10bn system set a 5% target for its new private equity portfolio, with 75% of that intended for secondaries.
Stacks of US dollar notes
LPs are expected to increase sales of their portfolios over the coming year, which could bode well for secondaries funds.
San Francisco
The $33bn system adds flexibility in making a secondaries purchase, perhaps indicating the system sees an opportunity in a dislocated market.
Co-investment and secondaries funds may be coming into vogue as retirement systems try to reduce fees and take advantage of a volatile market.
The misuse of common practices in the private equity industry could allow misalignment between LPs and GPs.
trust, parcel, baton
Board members referenced recent remarks from a Danish CIO that compared private equity to a ‘pyramid scheme.’

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