There isn’t much public information to be had, but it appears
Data provider Preqin reports the state’s public pension fund first brought the portfolio to market in February and since then has secured an undisclosed buyer. The money manager’s aim is to reduce its commitments and exposure to underperforming funds.
In an unrelated announcement earlier this week, North Carolina State Treasurer Janet Cowell said the $74.9 billion pension fund returned 18.48 percent for the June 30 fiscal year.
Within its portfolio, stocks advanced 30.7 percent, real estate holdings rebounded 18.16 percent and alternative investments, including private equity, rose 14.2 percent.
North Carolina’s secondary sale reflects a trend underway at large public pension funds to reduce relationships and cut costs. The
(Mark Boslet is a senior editor of sister magazine Venture Capital Journal)