Justin Mitchell
Buyouts' annual study surveying 100 LPs revealed strong confidence in their private equity portfolios and an overwhelming majority planning to either maintain or increase their PE allocations.
The $60bn pension's private equity advisor, StepStone Group, is the lead investor on the deal, which includes health care company Confluent Medical Technologies.
The $60bn pension has faced pressure from a labor union over PAI's handling of labor issues at a portfolio company rocked by the covid pandemic.
Balance Point will focus its latest fund on business and information technology services, healthcare and e-commerce companies.
The $53.5bn pension would like to find a way to better measure the full workforces of potential investment managers, among other concerns.
The $60bn pension has worked with the team previously when they were a part of Greenhill, and staff wants to maintain that relationship.
LPs overwhelmingly see secondaries as a valuable tool to re-focus their private equity portfolios and generate liquidity.
The $117bn pension usually commits to larger-scale managers and does not have an official emerging manager program, but says staff will consider smaller managers if they feel they will add value.
The rapid rebound of public and private markets following 2020 Q1 has left most LPs less concerned about fallout from covid and more focused on ongoing structural issues.
A board member wants the $20bn pension to commit to more diverse firms, including those owned by women of color.
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