Institutional Investor

The US' largest public pension has brought almost $10bn in private equity and real estate fund stakes to market since 2007 and shows no signs of slowing.

The US' largest public pension disposed of 46 fund interests with 24 managers and made $450m in proceeds during the period, according to a consultant's report.

The firm's latest dedicated secondaries fund is almost halfway toward its $1bn target, Secondaries Investor has learned.

A decline in crude oil prices, the S&P 500's worst ever start to a year, Brexit and growth fears in China all contributed to the drop in deal volume, estimated at $12bn.

In its annual review, the $773bn Abu Dhabi sovereign wealth fund reported a 20% drop in its assets managed externally.

Shawn Winnie told Secondaries Investor he is leaving his position as a senior portfolio manager at the $65bn pension to provide advice to LPs free of charge.

Florida's State Board of Administration has committed more than $1bn to secondaries vehicles since 2010. Secondaries Investor caught up with John Bradley, senior investment officer at the $180bn pension, about why it lowered its allocation target and how LPs see secondaries.

The $17bn pension fund wants to hire a manager to help it achieve diversification across vintage year, industry sector and strategy type.

Secondaries and funds of funds are proving the most popular strategy choices for the nation's corporate pension funds, according to a survey by JPMorgan Asset Management.

The pension fund, which has an 11% allocation to private equity, said it will be working with policy makers and regulators to protect the interests of long-term investors.