In what may be a sign of improving dealmaking conditions, Canada Pension Plan Investment Board, the world’s biggest investor in private equity, recently upped its performance – with the help of some exits.
A new state law now allows the $26.2bn system to allocate up to 25% of its total fund to alternatives.
PE stands to benefit as the system may do away with emerging markets equities.
California Flag
The new 'collaborative strategies portfolio' gives the system more capital to commit to private funds.
The system’s private markets chief sees opportunities as lengthier fundraising timelines continue.
New Mexico's surging energy industry gives the state’s second-largest permanent fund more money – and challenges.
The $26.2bn system’s cap to alts goes from 15 percent to 25 percent.
'Banks are coming back to underwriting big transactions,' the system’s deputy CIO told investment committee members.
This is a steep increase from how much it committed in 2023, and bodes well for managers looking for capital.
The possible changes would reduce a steady stream of capital to VC and growth equity managers.

Copyright PEI Media

Not for publication, email or dissemination