Justin Mitchell
The firm said its focus on 'targeted transactions' rather than buying large LP portfolios will work to its advantage in the current market.
CIO Jim Grossman told the $63bn pension's board that staff would focus on slower private equity pacing to reduce its allocation for now.
The $60bn pension has worked with the team previously when they were a part of Greenhill, and staff want to maintain that relationship.
Some board members have voiced concerns about the pace at which the $20bn pension is implementing plans to branch out into secondaries and co-investments.
The $56bn US pension will continue to look to the secondaries market to sell certain non-core holdings, CIO James Grossman has said.
The market dislocation means there may be more secondaries sellers than buyers, Aksia TorreyCove told the US pension.
The move comes as a wave of activist pressure sweeps up against major LPs.
Jase Auby says the $158bn pension will focus on co-underwriting as a way of adjusting its private markets portfolio.
The system's staff is formulating whether to take action on secondaries sale and/or co-investment initiative.
The interests were the last remaining pieces of a blockbuster sale the pension system made to Blackstone's Strategic Partners in 2018.