Investment Allocations

The $56bn US pension will continue to look to the secondaries market to sell certain non-core holdings, CIO James Grossman has said.

It was 'difficult to walk a straight line' with sellers on secondaries portfolios in the first half of this year, chief executive David Layton says.

The Australian SWF's exposure to the asset class had grown in recent months due to its relative outperformance and currency moves, according to acting CIO Sue Brake.

The growth of the secondaries market has halted, though certain segments remain open to LPs and GPs, according to Andrew Gulotta of Sixpoint Partners and DLA Piper's Adam Tope.

Higher fees and difficulty in agreeing on side letters with secondaries funds were among the reasons given.

The strategy has returned 15.5% since inception, as the pension fights pressure on returns by co-investing with its secondaries partners.

Ropes & Gray’s Raj Marphatia and Jianing Zhang explain how a secondaries transaction on an Indian-focused fund nearly fell apart.

Outgoing CIO Gary Bruebaker says the $128bn US pension buys fund stakes when GPs get in touch directly.

LPs and GPs pass their judgment on the industry body's updated guidelines, with GP-led secondaries deals a prominent theme.

The US public pension has backed two private equity-focused secondaries funds.