The state's Educational Retirement Board has said it wants to acquire secondaries stakes in the the distressed debt and equity manager's latest fund.
The pension has more than halved the amount it paid in management fees and carried interest to secondaries funds over the last fiscal year.
The firm now has $547m to deploy for its strategic secondaries fund, which targets GP-led transactions.
The name change marks the fund of funds manager's final step in separation from The Permal Group.
Frank Jordan joins the firm a month after the launch of its preferred equity and fund restructuring business.
The French banking group's latest fund of funds will split its deals evenly between secondaries and primary investments.
The largest US public pension fund paid $539m in profit sharing to private equity fund managers as it attempts to cull its number of external relationships.
The private equity and infrastructure investment firm has hired Michael Bowen to focus on direct secondaries and co-investments.
The asset manager has opened its first office in the Middle East and has become the first international asset manager to establish a base in Abu Dhabi’s financial free zone.
Returns for secondaries fell across both quarterly and yearly comparisons and were lower than the benchmark index for all strategies, according to data from the Institutional Limited Partners Association.
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