Institutional Investor

Endowment sales ticked up in the first half of this year to around 15% of overall LP sales, according to Campbell Lutyens’ half-year volume report.

Investors from German insurer Munich Re to Lithuanian family office Willgrow are jumping into the nascent asset class or considering doing so.

The $38bn pension fund targets 40% in buyouts, 30% in secondaries, 20% in growth and 10% in venture capital within its PE portfolio, says CIO Hazman Hilmi Sallahuddin.

The fund has increased its secondaries budget to capture opportunities arising from market uncertainty, says private equity head Yasuyuki Tomita.

Family offices' ability to provide patient capital to private markets while other investors face liquidity constraints is further fuelling interest in the secondaries market, according to a report.

The $25bn pension expects to use both the GP-led and the LP-led markets to offload indirect private equity exposure.

The $200bn pension now places a greater focus on the CV market, which is less crowded by retail capital, according to senior investment officer John Bradley.

Some LPs are thrilled with the options being offered amid rising portfolio sale activity, while others are less receptive.

Four out of NYCRS’ five pension systems are selling a more than $5.5bn portfolio to Blackstone Strategic Partners in a deal set to close at the end of March.

The pension fund’s portfolio is the latest LP-led deal to come out of the APAC region.