Gregg Gethard
The private equity portfolio of the under-the-radar retirement system paid $1 billion more in contributions than it received in distributions.
LPs have become focused on distributions as they balance liquidity needs in a difficult marketplace.
The lower middle-market manager invests in a wide array of consumer, services, distribution and niche manufacturing companies – including three geared toward DIY car enthusiasts.
The nation’s second largest pension system sees potential for greater returns and adding to sustainable investing by increasing its allocation to private equity.
New Jersey Division of Investments placed a commitment seeking to bring more industrials holdings into its PE portfolio.
Cliffwater took the rare step in deciding to not apply to continue the position.
The nation’s largest pension system stays with Meketa as the reshaping of its private equity program takes hold.
The consumer-focused manager seeks at least $1.25bn.
The $72.4bn pension system is one of the most aggressive LPs in pursuing these types of deals.
The system was unable to finalize the decision at an earlier meeting.
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