For the energy private equity firm, which has a direct investment model, traction on the fundraising trail may owe to performance.
The changes come as Blue Sea, formed by Richard Wandoff and James R Davis Jr, targets $550m for its fourth fund, Buyouts previously reported.
Fund VI’s target size marks a 25% increase from its predecessor, which closed in 2024 with $600m of capital.
Promoted to IMCO’s head of private equity in 2024, Elia believes that after roughly five-plus years of outsized growth the PE program is now ‘entering a more mature phase.’
Buyouts’ 2026 list of the biggest North American LPs finds plenty of familiar faces committing $1.5trn to the asset class, up 6.3% from a year earlier.
The value of the strategy is being debated as a tool to be used during an unprecedented slowdown in the private markets.
Buyouts checked back with some members of our inaugural list of Women in PE to see how their careers are evolving and ask what their advice would be for the next generation of leaders.
The pension will commit $263m to private equity across its plans in 2027, after doubling its pacing last year.
The pension anticipates increasing its private equity allocation to a $1bn target by 2030, as it expects a growing influx of distributions over the next four years.
NSP has already succeeded in raising nearly three-quarters of the fund's target – closing on $110m this month, sources told Buyouts.