Manager Strategy

The number of funds coming to market openly offering discounts for early-bird commitments or big ticket sizes is dropping, according to research seen by sister title Private Equity International.

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 market dislocation means there may be more secondaries sellers than buyers, Aksia TorreyCove told the US pension.

Funds managed by AlpInvest doubled fee related earnings to $12m in Q2 2020.

The firm has added a late-stage direct secondaries strategy and a tech buyouts fund in the last five years.

On an earnings call on Wednesday, co-president and co-chief operating officer Scott Nuttall said the private equity giant has periodically considered adding a secondaries strategy.

The South Korean government agency wants to commit up to $200m to secondaries funds.

Access to incremental debt capital can support follow-on investments in existing portfolio companies to preserve or enhance fund NAV, writes David Philipp of Crestline Investors.

The US public pension has issued an RFP for a secondaries private equity manager.

The pension system picked up secondaries stakes in Industry Ventures, Paine Schwartz and Eureka Equity funds.