Gregg Gethard
LPs and GPs have been bracing for private markets to reflect the turmoil in the public markets.
Illinois State Board of Investment tops the list of public pension systems with the strongest private equity returns.
The administration has talked about taking a tougher approach to private equity deals, especially those focused on healthcare.
Private equity performance, which lags public markets by a quarter or more, has remained strong as public holdings have been battered by the volatile markets.
Denominator effect, distribution pacing and increased workloads lead LPs to finally take a deep breath.
The management change comes as the relationship between LPs and GPs becomes a focus for regulators.
Pacing remains rapid for one of the nation’s largest public pension funds.
Many public pension plans have increased targeted allocations despite an uncertain market.
The firm also is charging management fees on committed capital through the life of the fund, an unusual structure.
Rhode Island is the latest state to reach its maximum number of commitments halfway through the year.
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