The $7.6 billion
As of Sept. 30, Louisiana had hit its target allocation to private equity of 10%, at the center of its range of 7% to 13 percent.
The limited partner mostly commits to funds of funds managed by such firms as Adams Street Partners, HarbourVest, Mesirow Financial, Pantheon, Parish Capital, Pathway Capital Management and Siguler Guff. —Nancy Gordon
Pa. SERS lowers target
Although it said it has been happy with the recent return generated by its private equity portfolio, the
Noting that private equity, venture capital and real estate returns lag by one quarter, meaning the numbers available for those asset classes are for the previous quarter ended June 30, CIO John Winchester said in a prepared statement: “We were particularly pleased to see private equity performance begin to recover as quickly as it did. Every indication is that the private equity portfolio has continued to gain value since June 30. If that trend holds, it should aid the fund’s full-year performance.”
The LP has about $23.7 billion in assets. —Nancy Gordon