Investors

The pension's advisors have cited secondaries as a way to grow its exposure to PE without having to compete for places in the most popular funds.

The London-listed investor has acquired stakes in two funds managed by Earlybird, a German VC firm with more than €1bn in assets.

Secondaries volumes and fundraising are likely to have a record 2018. Here are some predictions for 2019.

The US pension has committed $150m to each of the firms' latest private equity funds and is also considering buying and selling on the secondaries market.

The strategy has returned 14.6% since inception, though high pricing and competition is causing the pension to lower its expectations, according to senior investment officer John Bradley.

Family offices are twice as likely as institutional investors to sell private equity stakes due to poor manager performance.

Insurers in the region that have increased their exposure to alternative assets face regulatory changes that may hinder future investments.

The divergence of these metrics brings into question the idea that secondaries offers a quick path to liquidity, according to data from eFront.

As the pension discusses the final plan for its revamped PE programme, we look at how it can hit its target annual deployment range, including through secondaries opportunities.

Limited partners in the firm's 2010-vintage $400m co-investment vehicle can approve an extension or sell to a secondaries buyer.