Institutional Investor

The Texas pension has an appetite for secondaries, having also committed to Ardian and Strategic Partners-managed vehicles.

The world's fifth largest insurer is recruiting a deputy investment director in its asset management and financial services arm.

The troubled US pension has sold 11 fund stakes across buyout, energy and growth strategies since accepting bids in November.

The $10.3bn pension also disposed of a growth equity fund stake and was considering reducing its fund of funds exposure, meeting documents show.

The US public pension plan is considering a $10m secondaries purchase in Fund VII and is in discussions about an account to invest ‘across the Kayne Anderson platform’.

The disposal comes after the US's largest public pension reduced ties with 24 managers through sales in FY2016.

Trump’s Friday executive order called for a review of the rule which hinders big banks investing in private equity funds.

The $2.3bn pension's commitments include an investment in Ardian's Early Secondaries Fund VI.

The management company of the US's largest university endowment has been an active seller on the secondaries market in recent years.

Mubadala Investment Company becomes the world's 14th largest sovereign wealth fund with around $125bn in assets.