The New York City retirement systems confirmed that four of the five NYC pension funds are involved in the large LP-led secondaries transaction.
NYCRS, which oversees five pensions including NYCERS, has a secondaries programme in place with long-term targets ranging from 10-20% of its total PE portfolio.
The firm launched what could be its largest-ever secondaries fund in October.
The US pension giant considers secondaries investments an important contributor of distinct advantages not found in traditional commingled funds, according to Anton Orlich, managing investment director for private equity.
Affiliate title Private Equity International's LP Perspectives 2025 finds true status quo options are top of mind for investors when it comes to CVs.
The continuation fund market is clearly where the market opportunity is going, according to Aware Super's deputy chief investment officer and head of international Damien Webb.
Pursuing both strategies via a single fund allows for better market timing and greater diversification, according to Montana Capital’s Marco Wulff and Eduard Lemle.
LACERA will be allowed to commit up to 35% of its private equity allocation to secondaries or co-investments, and up to 20% of the allocation to funds of funds.
Pennsylvania Public School Employees’ Retirement System's sale included stakes in funds managed by New Mountain Capital, Apollo Global Management and Platinum Equity.
Credit and real estate secondaries could see $7bn and $11bn of deal volume each this year, per advisory reports.