Pension, E&F Investment Pros Cautiously Optimistic on Hedge Funds

Though just five percent (or 400) of 8,000 hedge funds (HFs) are even considered investable, according to Joe Marenda, a managing director and hedge fund specialist at Cambridge Associates, “the beauty [of hedge funds] is really in the eye of the beholder—based on portfolio need,” he said. Though institutional investors are currently holding their allocations …

Investors in Alternatives Seeking Separate Accounts and Co-investments

Over the next five years, institutional investors in alternative assets will be looking to increase their investments in separate accounts and co-investments at the expense of pooled or commingled structures, for reasons of greater control and potentially lower management fees, according to a report just published by research and data firm Preqin, titled The Future …

IDB Launches LAC Gender-Focused Fund; Says Region Ripe for Impact Capital

IDB Invest, the private-sector arm of the Inter-American Development Bank Group (IDB) and the Overseas Private Investment Corporate ( OPIC) have  partnered to launch Fund Mujer, the first gender-focused fund for Latin America and the Caribbean (LAC), to invest in female entrepreneurs, companies with a significant share of women leaders, and firms that generate jobs or consumer products for women. …

Report: Worldwide Institutional RE Allocations Up

Global institutions’ target allocations to real estate are climbing, especially in Europe, the Middle East and Africa (EMEA) and the Asia Pacific (APAC), according to a report published last week by consultancy Hodes Weill & Associates and Cornell University. Yet, despite a rise in institutional confidence in the real estate sector for the first time …

Pensions Replacing Fixed Income with Alternative Credit: Gapstow

According to a report released by Gapstow Capital Partners, an investment advisor that focuses exclusively on credit, many U.S. pension funds are now beefing up their alternative credit allocations, in many cases by decreasing investment in traditional fixed income. “We saw a lot of interest in alternative credit coming at the expense of traditional fixed …

IA Strategy: New York Common Retirement Fund Delves into the Complexities of Investing in Private Debt

Reginald D. Tucker, senior investment officer of opportunistic investments and absolute return strategies at the New York Common Retirement Fund (NYCRF) spoke with IA about the fund’s allocation to private debt, a fairly new asset class for the fund. Tucker gave details about the breakdown of the asset type in the fund’s opportunistic portfolio, the returns it …

MOSERS Releases RFP for Public Markets Consultant, Plans to Issue Another RFP for Private Markets

The Missouri State Employees’ Retirement System(MOSERS), located in Jefferson City, Missouri, is seeking proposals from investment consulting firms in its search for a specialty consultant for public markets (SC-PM), according to an October 4 announcement on its website. The SC-PM will assist Seth Kelly, chief investment officer (CIO), Shannon Davidson, deputy CIO, and the rest …

Three LatAm PE Locations Primed For Growth: Market Pros

A difficult economic and political environment in Latin American, generally over the last three years, appears to be moderating, and pro-investment reforms in key markets in the region are bringing a more positive outlook among some private equity investors. Market observers caution, however, that the most promising private equity investment opportunities are in only three …

New Mexico Funds Fashion Private Debt Benchmarks that Fit

Finding effective benchmark measures for private debt has proven challenging to even the most nimble-minded institutional investment practitioners. Nevertheless, some chief investment officers and portfolio managers at pension funds and endowments are coming up with their own ways to solve, at least in-part, this diverse asset class’s benchmarking issues. IA’s Managing Editor Leslie Kramer spoke with …

Consultants Grapple with Private Debt Benchmarking

Private credit, a relatively new asset class, offers investors a large, multi-asset class that encompasses a variety of niche strategies. While the term “private debt” is not well defined by the industry, “We estimate the size of the U.S. middle market at around $400 billion, and adding distressed would bring that number much higher,” said  Stephen …