Institutional Investor

Employees' Retirement System of the State of Hawaii has backed Landmark's latest private equity fund which is seeking up to $4.7bn.

The Singapore sovereign wealth fund has reshuffled its leadership team yet again, months after creating new senior investment positions in April.

The state's Educational Retirement Board has said it wants to acquire secondaries stakes in the the distressed debt and equity manager's latest fund.

The pension has more than halved the amount it paid in management fees and carried interest to secondaries funds over the last fiscal year.

The largest US public pension fund paid $539m in profit sharing to private equity fund managers as it attempts to cull its number of external relationships.

The state's Board of Investments sold stakes in two private equity funds at a premium to NAV and did not use an advisor, meeting minutes show.

The deal was part of the US's largest public pension's $2.7bn portfolio sale which is yet to completely close, Secondaries Investor has learned.

US pension plans are torn between curbing private equity commitments or selling holdings to stay on target, and increasing their exposure to boost returns.

The Californian pension wants to hire funds of funds managers to help it invest $150m each year until 2018 and is interested in secondaries.

The investment firm has hit the hard-cap on its first dedicated secondaries fund which will focus on distressed and special situations, Secondaries Investor has learned.