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Northleaf secures $400m to invest in secondaries

A significant portion of the capital is part of an expanded secondaries-focused mandate with Canadian pension fund CDPQ.

Five questions with Adams Street’s secondaries partners

Jeff Akers and Pinal Nicum of Adams Street Partners discuss their latest fundraise, the rise of SMAs and the limitations of relying on leverage to generate returns.

Ardian: LPs demand a more customised approach

Investment solutions tailored to an investor’s needs are gaining in popularity, according to the investment firm's Martin Kessi and Krista Oertle.

CalPERS board gives go-ahead for PE policy revamp

The pension has changed the way it calculates investment limits, with implications for fund commitments, secondaries, co-investments and SMAs.

Californian pension seeks PE partner with secondaries know-how

Stanislaus County Employees’ Retirement Association, which has $2.1bn in assets, will gain its first PE exposure through the creation of a private investment programme.

Ardian pivots to mandates as LPs shun primary FoFs

The firm has more than tripled its deployment of LP capital through mandates over the past three years as investors seek to avoid the additional fees associated with primary funds of funds.

Decoding the CalPERS request for information

The US's largest public pension, which has launched a search for potential partners, expects to grow its secondaries and SMAs participation by 'material amounts.'

Florida SBA chairman questions secondaries’ role

At the pension's investment council meeting, Peter Collins questioned whether secondaries fulfil Florida Growth Funds' remit of growing businesses in the Sunshine state.

Sacramento County swaps separate accounts for fund stake

In an unusual real estate secondaries deal that one executive called a ‘no-brainer,’ the $8.6bn pension system is trading six assets for a $250m interest in an open-ended fund.

When less isn’t more

CalPERS is reviewing its strategy of consolidating PE commitments into fewer managers. What will that mean for the industry?
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