CalPERS to Cut Investment Fees by 8 Percent Next Year

CalPERS calculates that it will cut investment-related fees by 8 percent in fiscal year 2015-16, according to a report by Bloomberg. The pension fund has been looking to cut costs recently by reducing the number of private equity managers it invests with and moving more investment management in-house. According to CalPERS’ proposed budget, obtained ...
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Chart: How Institutional Investors Are Changing Their Allocations to Alternatives in 2015

Here’s a graphic that shows the percentage of institutional investors that are planning to change their target allocations to various alternative asset classes in 2015. When it comes to increasing target allocations, 39 percent of institutional investors say they are going to increase their private equity investments in 2015. Hedge funds may ...

Private Equity Eyes Longer Timelines For Largest Investors

Some private equity firms are considering offering new investment structures that would allow their largest clients to invest over a longer period of time, according to a New York Times report. The new structure would extend the timeline of some investments to over 10 years, which could appeal to institutional clients looking for longer-term, lower-risk ...

Study: Pensions Put Pressure on Private Equity to Formulate Environmental, Social Investment Policies

Research from the London Business School shows that the vast majority of large private equity firms – 85 percent – are feeling increased pressure from Europe’s institutional investors to incorporate environmental, social and governance (ESG) considerations into their investment policies and processes. Details from Investments & Pensions Europe: The ...
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San Francisco Pension Approves 5 Percent Allocation to Hedge Funds

After months of discussion and delays, the San Francisco Employees Retirement System on Wednesday voted to invest up to 5 percent of its assets in hedge funds. The pension fund has not previously invested in hedge funds. Its investment staff had previously recommended a 10 and a 15 percent allocation, but the board voted 6-1 for a 5 percent investment. More ...

Norway Pushes Pensions to Up Investments in Domestic Private Equity

A report released by the Norwegian government encourages the country’s pension funds to increase their investments in domestic private equity; the country is looking to boost the financing of its more innovative companies. According to the report, interest in domestic private equity has fallen rapidly in the last eight years. From Investments and ...

Pensions Criticize KKR Over Fee Refund Spurred by SEC Exam

Some pension funds are criticizing KKR’s communication with investors regarding “erroneously” charged fees; the firm refunded those fees last year, but waited a year tell investors that the refund was the result of an SEC exam. From the Wall Street Journal: KKR & Co. is getting unusually pointed criticism from some of its public-pension ...

Video: Harvard’s Josh Lerner on New Models of Private Equity Investment

Here’s an insightful discussion with Josh Lerner, professor of investment banking at Harvard Business School. Lerner discusses pension funds’ search for alternative ways to invest in private equity, cutting out the middleman, and more.     Cover photo by c_ambler via Flickr CC License

Geithner Tells NJ Pension Panel He’s Bullish on Economy

Former U.S. Treasury secretary Timothy Geithner made an appearance at Thursday’s meeting of New Jersey’s State Investment Council, the entity that oversees the state’s pension investments. Geithner was at the meeting because he is president of a private equity firm, Warburg Pincus, that handles a portion of the state’s pension money. During ...

CPPIB Commits $330 Million to Canadian Private Equity

The Canada Pension Plan Investment Board (CPPIB) is putting an additional $330 million into a fund managed by NorthLeaf Capital Partners that invests in the Canadian private equity market. The move is the latest in a series of commitments to Northleaf funds and Canadian private equity. From a CPPIB press release: This investment is in addition to CPPIB’s ...
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