The $4.2bn pension wants to commit to two separate global secondaries funds and is seeking managers with at least $500m in secondaries investments.
The private markets investment firm has picked up five real estate fund positions from the New Zealand investor, which is looking to exit the asset class.
The niche secondaries firm has hired a former Montagu Private Equity IR head to join its eight-member board.
Arcano Asset Management came in third place in Spain's top fund managers by capital raised, according to data from PEI Research & Analytics.
The firm has made 14 promotions this week including three secondaries appointments in its London and Philadelphia offices.
The advisory firm plans to staff its new office with up to four professionals who will focus on all aspects of the business including secondaries.
David Druley will take over from Sandra Urie when she becomes 'of counsel' in July.
Three advisors accounted for around half of the $40bn in deal volume last year, which saw an increase in GP-led restructurings and a rise in real assets deals.
Using debt to acquire portfolios changes the nature of secondaries investments, according to the head of the firm's fund investments team.
The £3.2bn UK pension, which is under-allocated to private equity, committed to both of the firm's previous SOF vehicles.
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