PCG Asset Management would run the programme, which would target original commitments of between $5m and $20m.
2 min read · 21 January 2013
Richard Levin, president of Yale University, said the investment model designed by David Swensen had performed ‘spectacularly well’ for the endowment despite a 30% decline in value in the last fiscal year, according to a Bloomberg report.
2 min read · 21 January 2013
As the balance of power swings from GPs to limited partners, fund managers in New York today predicted investors would call for shorter investment periods for PERE funds in a bid to boost their liquidity. In the search for capital sources though, GPs were advised to watch super and high-net-worth individuals "closely".
2 min read · 21 January 2013
Réal Desrochers has ended his 11-year reign as the director of alternative investments at the US' second largest public pension, leaving veteran portfolio managers Margot Wirth and Seth Hall as interim co-directors. Desrochers did not disclose future professional plans in a farewell email sent to friends and colleagues.
4 min read · 21 January 2013
The $153bn pension allocated $200m to Bank of America for investments with emerging managers, and $350m to minority-owned Parish Capital as part of its emerging private equity managers programme.
2 min read · 21 January 2013
David Swensen, chief investment officer of Yale’s $17bn endowment, said efforts to emulate Yale’s investment strategy would fail if other institutions use consultants and funds of funds to make investment decisions, instead of hiring a team of in-house professionals, according to a report.
2 min read · 21 January 2013
The $17bn endowment has suffered from declining financial markets. The university says it has been establishing reserves in anticipation of 'substantial' write-downs in its private equity and real estate portfolio. Real assets, including real estate, makes up a quarter of the fund's portfolio.
2 min read · 22 January 2013
The $23 billion Employees Retirement System of Texas is looking to allocate eight percent of its pot to real estate, just as other US pensions are committing fresh capital to private equity real estate vehicles.
4 min read · 22 January 2013
If Washington increases the tax on carried interest, private real estate investors and REITs could take a big hit. By Aaron Lovell
5 min read · 22 January 2013
Following hot on the heels of the Dublin firm’s first private equity real estate fund, which closed on €400m this week, the firm is working on a second fund of roughly the same size.
2 min read · 22 January 2013
