Quality managers earn a 'complexity premium' by building better companies.
The system has not yet finalized a contract with a secondaries adviser.
A hospitality industry trade union’s participation at recent CalPERS meetings reflects worries about negative headlines connected to buyouts managers.
The system’s desire to overhaul its private equity program continues even as it awaits a new chief investment officer.
A raucous labor dispute in California is dragging in private equity.
The system recently switched EM managers in order to increase graduations to its core fund.
The system committed nearly $5bn to co-investments in the second half of 2023 – including one totaling $750m.
In a conversation with Warburg Pincus CEO Chip Kaye, Eneasz Kadziela, the head of private equity with the New York City comptroller, said the frantic fundraising pace of 2021 was something of a burden for LPs.
A panel of LPs discuss trends and themes in private equity, including the use of secondaries to rebalance portfolios.
The system’s early focus on secondaries should bring back cash quickly.
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