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Investment Allocations
Removal of restrictions on asset holdings by Solvency II, coupled with low fixed income returns, is encouraging insurers to allocate more cash to alternatives.
The firm expects steady early secondaries dealflow thanks to opportunistic sellers, succession planning issues and allocation changes, according to managing director Roland Reynolds.
The pension has reduced its annual investment costs over the past five years.
The US pension fund, a major seller in the secondaries market, is planning to allocate 10% of its portfolio to the region.
About a third of institutions plan to increase their allocation to private markets this year, a stronger response than for other asset classes, according to a new poll.
Investments will include secondaries, according to Edi Truell, head of the Strategic Investment Advisory Board established to advise the Lancashire and London Pensions Partnership.
Andrew Levy will leave Newbury in a few weeks to join a large international bank to focus on co-investments.
The $26bn Employees Retirement System of Texas has closed 16 private equity co-investments since inception and six in fiscal 2014 alone.
In a bid to reduce fees and bolster existing relationships, the US pension will put $100m to work in both its real estate and private debt co-investment and secondaries programmes.
The Zug-based private markets investment firm described in its latest research how it is placing its current real estate investing emphasis on investments in debt and secondaries, both direct and indirect, as it avoids a “herding mentality”.