Brett Johnson

A $39bn pension fund is sounding the alarm over a lack of reliable information at the portfolio company level.

The US's largest public pension had a streak of co-investments underperforming funds in most periods over several decades, according to private equity head Anton Orlich.

Larger successor funds typically moved GPs into bigger deals with potentially less return upside, not universally worse returns, according to the firm.

After a stretch of underperformance against peers, CIO Kevin Sigrist is stepping back into a role he once resigned from in order to find help steering the state pension fund in a new direction.

Key takeaways from our annual survey tracking investor sentiment towards private equity and the wider private funds industry.

Private credit investments have started to arrive on the sports field.

The sovereign fund is bolstering its exposure to private equity and other private assets following several years of record cash inflows from oil revenues.

The $82bn pension’s staff are expressing confidence in the direction of the portfolio despite relinquishing a spot as a top performer from early PE programme.

Pension CIOs representing decision-making power behind collective $850bn in assets acknowledge past investment calls ‘wouldn’t work the same going forward.’

The sovereign fund has seen relatively strong PE performance, despite experiencing a slowdown in distribution activity.