Institutional Investor

The $180bn pension manager, which is currently underweight to secondaries, has dropped its target for the strategy from 12.5%.

This is the second commitment by the pension to funds managed by Portfolio Advisors, which is seeking $1bn for its latest secondaries vehicle.

The New Jersey Division of Investment, which sold stakes on the secondaries market earlier this year, has lost Jason MacDonald, who will join his alma mater as an investment director in July.

Despite challenges posed by high valuations, transparency and cost, the California pension plan remains committed to its 10% interim target allocation to private equity.

The California retirement system wants to hire a firm to help it achieve its private equity and credit allocation target, including through opportunistic secondaries.

The $294bn US pension fund has introduced a number of controls designed to prevent another scandal like ‘Pay-to-Play’.

The state employees’ retirement system is mulling a sale from its $2bn illiquid assets portfolio.

Institutional investors in Australia are preparing to re-orientate their portfolios and sell stakes, according to a principal at the $57bn investment firm.

The pension has reduced its annual investment costs over the past five years.

The board of directors has chosen Mark Machin to lead the pension fund after Wiseman's mid-June departure.