Institutional Investor

The secondaries fund targeting high net worth individuals purchased a $25m portfolio of fund stakes from The Regents of University of California.

The acquisition was part of a large sale from insurance company Nationwide, which was rebalancing its private equity portfolio.

The flow and pace of transactions this year is looking very different to previous years, reflecting several new dynamics in the secondaries market.

NEPC’s Q3 2015 poll shows that in response to high valuations and restricted access to top quartile managers, these investors are looking into co-investing.

The insurance company unloaded interests in at least six European funds, mostly tail-end, to PineBridge and Akina.

The California pension fund responds to a letter sent to it by State Treasurer John Chiang calling for legislation on fee disclosure.

John Chiang urges CalPERS and CalSTRS to work with him to 'mop up another private equity industry mess'.

The firm, which manages investments of non-profit organisations, hired Chris Anderson earlier in the summer to focus on secondaries and recently appointed Chris Willoughby as new CIO starting next week.

The endowment has sold about 100 private equity fund stakes totaling roughly $1.7bn in the past 30 months.

Sovereign wealth funds may turn out to be opportunistic sellers rather than competition on the buyside, according to Rudy Scarpa of Pantheon.