The $50bn pension fund has made exploring the secondaries market, as a buyer and seller, a key strategic priority.
The strategy, which is run by Ardian and Lexington Partners, delivered a 16% return since inception for the $210bn US pension.
The firm has more than tripled its deployment of LP capital through mandates over the past three years as investors seek to avoid the additional fees associated with primary funds of funds.
LPs from Canada, Norway and Benelux are all expecting to raise their deployment to secondaries, according to research by Rede Partners.
Bumper fundraising, stapled deals and preferred equity were some of the themes in the awards for 2017.
A survey carried out by 17Capital suggests most LPs do not feel their liquidity needs are met by the secondaries market.
Half of the global investors surveyed by Augentius expect market conditions to worsen this year compared with 2017.
Funds of funds have to differentiate to stay competitive, which for many means developing secondaries capabilities.
The advisory firm believes the increased efficiency of the market has blunted the power of secondaries as an opportunistic strategy.
The pension is putting an initial $50m towards a separate PE account that can invest in primaries, secondaries and co-investments.