Gregg Gethard

Presentations from HarbourVest and Pantheon show strong returns from secondaries as the niche market moves into pricing uncertainty.

The fund is an example of the kind of specialized strategy that has been attracting attention from limited partners that are overburdened with re-ups from established firms.

As public markets have swung wildly amid inflation and supply chain woes, along with geopolitical shocks, private valuations have stayed generally high, leading to unbalanced investment portfolios. 

Fund tied into tech billionaires eyes investments in enterprise software, fintech and consumer tech despite worries about sector valuations.

As private equity valuations trail movements in the public markets, tech heavy private equity baskets likely will soon reflect the pummelling taken by public tech stocks.

The decision comes as limited partners like PSERS are contending with a flood of managers coming back at quick pace for more capital into larger funds and even new products.