Market Moves
Secondaries, and Market Complexity, on the Rise
Limited partner-led private equity secondaries are driving the market to record highs, a trend likely to continue and to expand to private credit.
News
Newsmakers
Margaret Ryan Named Director of SEC’s Enforcement Division
The Marine lawyer and U.S. Armed Forces Court of Appeals judge’s appointment is effective September 2.
Newsmakers
MetLife IM Names Geert Henckens as Global Head of Private Fixed Income
Henckens succeeds Brian Funk in the position.
Corporate Moves
Aviva, ABB Limited Complete $1.076B Pension Risk Transfer
The annuity buy-in will secure the benefits of more than 7,350 beneficiaries.
Newsmakers
Diana Winalski Joins as Deputy CIO at EY Americas
Winalski, reporting to CIO Walter Kress, will assist in overseeing the firm's $30 billion in retirement plan assets.
Corporate Moves
Partnership Between Cresset and Monticello Announced
The tie-up will create a pool of nearly $200 billion in assets for the firms to oversee and advise and provide clients access to fund managers in the public and private markets.
Newsmakers
CalSTRS Names Senior Investment Director for Private Markets, Sustainable Investments, Stewardship
Kirsty Jenkinson, who was promoted to the roles, joined the California pension fund in 2019 as director of SISS.
Alternatives
Achmea IM Launches Private Equity Fund Focused on Nutrition, Healthy Living
The $290 million Healthy People & Planet fund was developed for Dutch institutional investors, with the help of Neuberger Berman.
Pensions
Berenberg, Lurse Awarded First OCIO Mandate
The two firms had previously partnered to offer outsourced CIO services to German occupational pensions.
Asset Allocation
Harvard Management Co. Adds Bitcoin, Gold; Slashes Tech Holdings
The world’s largest endowment also bought 1 million shares of Amazon, despite cutting back sharply on Alphabet, Meta and Microsoft.
Asset Allocation
Endowments Could Turn to OCIO Amidst Tax Hikes, Liquidity Pressures
Outsourced CIOs with expertise in complex tax situations have an edge for attracting new clients, according to Cerulli Associates.
Pensions
Multiemployer Pensions See Asset Surpluses for First Time
The funding ratio of U.S. defined benefit multiemployer plans reached 100% at the end of June, according to Milliman.
Newsmakers
Australian Retirement Trust Chairman to Retire
Andrew Fraser intends to retire at the superannuation fund’s annual member meeting on November 20, at which point a successor will be named.
Asset Allocation
Surging Q2 Financials Fuel Norway SWF’s H1 Return
Despite a 1.6% loss in Q1, the $1.92 trillion Government Pension Fund Global returned 5.7% for the first six months of 2025.
Pensions
Corporate Pensions See Funding Ratio Gains in July
The funded status of corporate plans increased for the fourth consecutive month, primarily due to a decline in the value of liabilities.