LP Sales

The appointment comes at a time when many advisors are focusing on GP-led transactions.

CIO Jim Grossman told the $63bn pension's board that staff would focus on slower private equity pacing to reduce its allocation for now.

The Carlyle subsidiary has hit the hard-cap on ASP VII and raised $1.2bn for co-investments, with support of LPs such as the California Public Employees' Retirement System.

In the wake of multiple key departures from the market's biggest advisor, the future of the multi-billion LP portfolio market is up for grabs.

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

Canada Pension Plan Investment Board's recent transaction shows that even at a time of considerable economic uncertainty, big, diversified portfolios can sell – and at a good price.

The Canadian pension giant is understood to have sold chunks of the portfolio, worth as much as $2.5bn in total, to separate buyers.

The four-person team, led by Dan Nolan, has moved to a Swiss outfit and is understood to be working with a US endowment on a portfolio sale.

The US pension had set up a partnership with Pathway Capital Management last year to sell fund stakes.

The sale by Canada’s fourth-largest pension comes as it pivots to direct deals and invested a record amount in private equity in the 2019-20 financial year.