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The firm now has €46bn in assets under management, more than half of which is in private equity assets.

Private fund managers’ fee and expense allocation practices will continue to be an SEC focus area as the agency targets never-before-examined advisers in the year ahead.

He previously led private equity for the city’s public pension system and will add infrastructure and real estate to his responsibilities.

At least 37 investors have committed to the global private equity firm's fifth dedicated secondaries fund.

The fund of funds manager bolstered staff by 10% last year with hires across its Asia, US and UK offices.

The firm has held Cint for about three years and its sale marks the 19th exit from its latest secondaries fund.

The firm launched its biggest secondaries fund to date in August last year seeking $1.25bn.

The vehicle is targeting €250m and will mix primary and secondaries fund positions with direct co-investments.

Excluding carry, the fees and costs CalPERS paid to secondaries funds represents about 1.5% of total fees paid to private equity firms during the year.

The fund targeting high net worth individuals and investing predominantly in Carlyle funds did not add new secondaries investments in the quarter.