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Coral Gables Retirement System, which manages about $433 million, set a target to PE of between 3 percent and 5 percent.
Dana Johns previously served as a senior portfolio manager on Maryland’s private equity team.
Alaska Permanent Fund, which has committed to seven venture funds this year, will lower its private equity target and embark on a reduced pacing plan for FY 2024.
The nation’s second largest pension system sees potential for greater returns and adding to sustainable investing by increasing its allocation to private equity.
California Public Employees’ Retirement System, which is in the midst of overhauling its private equity program, will select consultants for its general pension fund and several investment categories including private equity at an upcoming meeting.
Some investors have started to push back on GPs, but it appears they are hesitant to slam on the brakes for fear of missing out on strong returns down the road.
Colleges on average allocated 30 percent of their portfolios to private equity and venture capital, according to the 2022 NACUBO-TIAA Study of Endowments.
"We have observed throughout our history that some of our highest performing private equity vintage years originate during volatile times like this," said CIO Michael Trotsky.
Alaska Permanent Fund’s chief investment officer will propose major cuts to its targeted allocations to private equity at its board meeting scheduled for February 15.
Of the $424m MassPRIM committed to diverse managers last year, $158m went to four managers of venture capital and/or growth funds.