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The US public pension plan is considering a $10m secondaries purchase in Fund VII and is in discussions about an account to invest ‘across the Kayne Anderson platform’.

The Carlyle fund of funds unit’s latest haul includes capital for its commingled programme, cornerstone investments and separately managed accounts.

Scott Landress also must pay a $1.25m penalty to settle charges that he improperly withdrew fees from two real estate secondaries funds.

The tail-end specialist has acquired stakes in the UK buyout fund’s first independent fund, which invested in EMI Group, a music company.

The global investment firm's private equity portfolio will grow by almost $3bn after the acquisition of the Swiss secondaries investor.

Carried interest rose to $23m and management fee income jumped to $157m last year for the firm, which recently filed for an IPO.

While secondaries advisory volume was up year-on-year, the investment bank's capital advisory revenues were hit by Brexit and market uncertainty.

The disposal comes after the US's largest public pension reduced ties with 24 managers through sales in FY2016.

Trump’s Friday executive order called for a review of the rule which hinders big banks investing in private equity funds.

Average deal sizes have almost halved in the last two years and buyers are purchasing assets across strategies and vintages they have not historically considered, according to the advisory firm.