Future Fund Names New Private Equity Head
Hire ran global PE division at National Australia Bank’s investment arm.
Hire ran global PE division at National Australia Bank’s investment arm.
Pension gears up $400 million pacing plan for the 12-year-old allocation.
Retirement fund recommends $650 million in investment activity at its last meeting.
The $120 billion California university system endowment wants collaborative types.
Investment committee members may vote on the plan in two weeks.
Strong returns in the system’s infrastructure and private equity strategies pull it out of negative territory for year.
Preqin report says high pricing is putting pressure on future returns.
Plan is essential if CalPERS wants to avoid increasing its approximate $140 billion unfunded liability, Meng says.
The new commitments are part of the plan to keep private market investments to around 40% of the fund.
Robust international portfolio delivered $9 billion in 2018.
Private equity commitments totaled $300 million, part of an effort to boost the asset class.