NEWS

New Mexico SIC unleashes new private market plans

The $523.5bn system reveals 2025 plans for its real estate, private equity and infrastructure plans, amid new commitments.

Callan: Allocators seek buyout value-focused managers as the U.S. population shifts to the south-east and south-west

As retiring baby boomers create more demand, Callan's David Smith dives deep into healthcare, one of the darlings of PE allocations in the current environment. He opens up about sub-sectors and sub-strategies which work well for the allocators and discusses how technology has driven healthcare to its full potential. Catch him talk about manager selection, PE investments and more.

The first CIO of Rest steps down

Andrew Lill will step down in November, as announced on Thursday.

CPP poaches Schroders' global head of RE

Starting her role at CPP in January, Sophia van Oosterom will lead the RE portfolio

Colorado PERA finds opps in RE, PE and PC, amid a new strategic study

The pension plan makes changes with a hope to reach 100% funded status, highlights soft strategy targets for private credit for its first allocation.

Alfred P. Sloan Foundation has a new CIO

The $2bn foundation has promoted its managing director of investments to the role of CIO, effective September 18

Ohio Police & Fire axes Barings, ignites search for a replacement

The $18.8bn system will release an RFP for an international small-cap equity manager with consultant Wilshire.

CalSTRS promotes two senior portfolio managers to directorial roles

The $346.5bn system promoted Rosie Lucchesini-Jack and David Murphy after extensive recruitment and public search

How AI might impact the future of investments

John Pearce, a quant and equity portfolio manager at The Illinois Municipal Retirement Fund, sat down with editor Christine Giordano and enjoyed a philosophical and pragmatic discussion on how AI might impact the future of investments, and what to consider.

Exclusive: Hall of Fame Interview and Investment Strategy Review with CIO Tim Barrett

Texas Tech CIO Tim Barret discusses the scariest and best investments of his career, and what he's strategizing about now. Barrett is one of the few CIOs who has headed a corporate fund, a public fund as well as an endowment. Markets Group will celebrate his Hall of Fame induction on October 9 in Austin. Allocators welcome to applaud him in.

Insights from Allocators in the Great Plains

Markets Group recently surveyed institutional allocators, including Public Pension Funds, Endowments, and Foundations, in the Great Plains region. This survey was conducted in conjunction with our 10th Annual Great Plains Institutional Forum held in Minneapolis. The aim was to gather insights on how these institutions are navigating current economic and political challenges in their investment strategies. 

From the Sidelines: Inside the Power Plays at PE Europe London 2024

Last week, our Private Equity Europe London 2024 forum gathered over 300 private equity powerhouses from across the European region to dive deep into the opportunities—and obstacles—shaping the future of private equity. From heated discussions on navigating fundraising in choppy waters to tech-driven innovation reshaping the industry, this wasn’t your average PE event. It was more like a masterclass in the art of the deal.

LAFPP unveils its interests and pacing for $450m Real Estate Investment Sleeve in FY2025

The system has a higher focus on non-core as sets a pacing of up to $300m and the remaining goes to core allocations. A significant shift, noted from last year. 

NEST's CIO focuses on the 'magic of compounding' for her fast growing pension plan

NEST has long been known for its growth and approach to investing especially private markets. In this conversation, she dives deeper into vetting managers, keeping a watchful eye on the economy and using defensive strategies to make the best of her resources. 

Kansas PERS finds opportunities in digital infrastructure and increases Real Assets allocation

The $27.3bn pension plan increased its public equity and real assets interim targets with a decrease in fixed income and cash. 

Buyout has become one of the darlings of the PE portfolios, here’s why

Recent buyout commitments by Kansas PERS yet again is a signal of bullishness of allocators towards buyout funds.

South Carolina allocates $305m to Alts

The $44bn pension plan has made commitments to its RA, PC and PE sleeve across June to August

Illinois Police issues RFP for investment consultant search

The $10.8bn system is looking for a consultant to build out its private markets portfolio, especially private equity, private credit, real estate and infrastructure. The system aims to choose a consultant by early 2025. 

Hall of Fame Interview with Robin Diamonte, Chief Investment Officer, RTX

One of the most influential chief investment officers in the industry discusses what she sees as threats to the industry, what she looks for in managers, how she mentors, her work in creating lifetime income for all workers, her career advice, and making changes on a national scale as a Presidential appointee to the PBGC.

Markets Group will hold a celebratory ceremony to induct Robin Diamonte into the Chief Investment Officer Hall of Fame in Boston during the 11th Annual New England Institutional Forum on Sept 25-26. Allocators are encouraged to attend. During the event, Britt Harris will have a fireside chat with Diamonte.

Real Estate provided positive results for a state fund, here's how it invested

Multiple allocators are seeing a downfall in their fiscal year returns due to real estate, will this change next year?

Ontario Municipal’s PE head to step down

Michael Graham will retire in early 2025

CPP makes a follow-up commitment of $391.6m to Brazilian Water Company

The C$646.8bn pension plan made an additional commitment to Iguá Saneamento, after the firm received a new contract.

Inflation to growth: Finland CIO on vetting 'renewable' and 'opportunistic' strategies

Laura Wickström recently got promoted to the role of CIO of Veritas Pension Insurance, Finland-based pension. In this conversation, she dives deeper into the real estate allocation and emphasizes sustainability and climate investing as key while vetting managers.

IBM’s second $6 billion pension buyout with Prudential

The latest SEC filings disclose an agreement between IBM and Prudential, following the corporation’s map of a cash-balance pension plan

Rice University’s CIO steps down

Allison Thacker steps down after a tenure of 13 years

Broad Foundation appointed Greg Outcalt as CIO

The $2bn foundation named Greg Outcalt as CIO, following Katharine Krieger’s departure

Exclusive Insights and Highlights from the Sidelines of ALTSSV 2024

ALTSSV 2024 brought over 300 professionals to Silicon Valley for two days of cutting-edge discussions and networking. Held at the iconic Computer History Museum, AI naturally dominated the conversations. The event showcased key trends in AI, private credit, and the future of alternative assets, sparking powerful conversations among top investors and managers. Our exclusive video interviews dive deep into these topics, offering first-hand insights and strategies from the industry’s top thought leaders. 

Key Strategies from Allocators in the Great Plains

This white paper offers a glimpse into the strategies employed by institutional investors across the Great Plains, where liquidity has become a cornerstone of their approach. Investors are bracing for Federal Reserve actions while positioning public equities to continue to perform well. The paper also touches on growing trends such as sustainable investing and liability-driven investments (LDI), shaping long-term resilience in the region. 

Swiss pension fund PUBLICA’s head moves to a consulting firm

Stefan Beiner will join c-alm as a partner in March 2025

CPP and BlackStone plan to acquire AirTrunk in a $16bn deal

The transaction is subject to approval from the Australian Foreign Investment Review Board.

Public equities push PennPSERS to signal 8.1 percent fiscal year return, above benchmark

The $75.2bn pension plan exceeded its policy benchmark of 7.1%.

‘Structural changes’ force Kern County to bid farewell to FI manager, amid new PC allocation

The $5.7bn Kern County ERS has dry powder of $232m for its FI sleeve and committed $25m to its PC portfolio

Exclusive: Career Advice from an exit interview with top industry CIO recruiter, Michael Kennedy

For years, he recruited the top CIOs in the United States, and chaired the largest pension fund in the country. Now he's retiring, and disclosing some of the things he couldn't discuss in the past.

Maryland Retirement Agency appoints deputy CIO

The $67.7bn pension plan appoints Thomas Kim as deputy CIO

Montana Investment Board unveils $332m in new commitments

The $28bn pension plan disclosed commitments in RE, RA and private investments including VC and PE

New Mexico SIC focusses on Private Equity with $800m in commitments

The $54.2bn pension plan recently committed to its PE, PC and RA sleeves

With growing 'access' to good managers, OCERS plans $750m in PE pacing

The $23.6bn system will maintain its pacing plan of $750m through 2026, with an bullishness towards information technology and healthcare.

TMRS announces three senior staff hires

The $40bn Texas fund hired Philip Hunter O’Brien, Amol Deshpande and Isidora Stankovic.

CIO Jonathan Grabel considers venture to be the 'growthiest' component of LACERA's growth portfolio

CIO Jonathan Grabel, an Elite 100 CIO, is known for his exceptional work in private equity, for getting DEI disclosures beyond 90%, and his rock-solid internal investment committee. In this interview, Grabel dives deeper into the breakdown of his private equity portfolio, his due diligence using strong internal metrics, the red flags he sees in choosing managers, and his allocations to his fixed income portfolio. 

LAFPP raise allocation to real estate from trims made in REITs

The $31bn pension plan has made significant changes in its real estate, REIT and commodities portfolio amid changes in the market environment

Recent PE allocations by investors favor healthcare and technology commitments

The $142.1bn Minnesota State Board of Investment has committed to similar funds as VRS, CPP and Pennsylvania PSERS within its private equity sleeve. 

PSP Investments appoints an interim CIO

PSP Investments and CIO Eduard van Gelderen “mutually agreed” to his departure. 

Texas ERS discloses private market pacing plans for 2025, amid high quarterly returns

The $39bn Texas ERS boasts 1.8% return against its policy benchmark of 0.37% in the second quarter. In the recent meeting, the system unfolded pacing plans for RE, Infrastructure, private equity and private credit.

CPP appoints private equity head, following the departure of Suyi Kim

The $472.8bn fund promoted its managing director for PE to the new role. 

Modi’s re-election makes India hotter

India is expected to grow by +6.6% in FY24-25 and +6.4% in FY25-26. Public spending, foreign investment and easing inflation will be tailwinds, suggests recent reports.  

In Depth Exclusive Interview: CIO Shoaib Khan expects opportunities in 'technology, manufacturing and services' in India, as more allocators invest

Modi's re-election has created more opportunities in the region, CIO Khan highlights key opportunities and concerns in the region. 

CIO Andrew Junkins considers ‘active management’ for high returns amid new PE, RE commitments

The $113.9bn system disclosed its recent commits alongside flagging a high 9.9% return for fiscal year 2024

CPP discloses 2.9 billion dollar PE, RA, and other commitments made in the first quarter

The $472.8bn pension plan noted a return of 1% in the first quarter and 9.1% return for its 10-year annualized net return.

Ontario Teachers appoints chief financial officer

The $225.8bn promoted Mabel Wong to chief investment officer from the role of senior managing director.

Australian Retirement Trust has a new CFO

The $330bn pension plan promoted Phil Fraser to the role of CFO