The more cautious approach to direct private equity investing at the second-largest US pension plan contrasts with a more aggressive approach by CalPERS, the biggest US plan.
Top officials say CalPERS will be part of two investment partnerships with general partners, but won’t own a stake in them.
Providing pensions to public workers in Silicon Valley’s largest city doesn’t mean investing in venture capital. The plans now are looking at whether they are missing an investment opportunity.
Total assets under management hit $722 billion, with $246 billion in dry powder.
The nation’s VC deals and growth fundraising have been climbing to new heights since 2016.
In overall value, VC fundings totaled $182 billion, besting 2015 high mark.
Despite lower volume, VC deal values are breaking records.
Buyout funds return strong over the long term.
Preqin study finds main concerns are the exit environment, fundraising, and performance.
Asia accounts for almost half of the global total with a record $22 billion invested.
Firm seeks to hire a global macro-portfolio manager for its two macro teams.