South Carolina Seeks Shaved Fees through Co-Investments; Considers Simplified Asset Allocation

The approximately $31 billion South Carolina Retirement System Investment Commission (RSIC) is moving to embark on a private equity co-investment venture with an asset management firm to reduce the cost of its private equity portfolio. Also, the RSIC’s consultant, Meketa Investment Group, is working with the fund’s staff on an asset allocation review with the …

Institutional CIOs Opine on Governance, Asset Allocation at Tri-State Forum

At Markets Group’s 7th Annual Tri-State Institutional Forum, which took place on March 27th, Antonio Rodriguez, director of investment strategy at the New York City Board of Education Retirement System, moderated a panel entitled: Conversation with the Region’s Leading Chief Investment Officers. Rodriguez led the discussion with a trio of panelists that included: Anthony O’Toole, …

What Would Freud Say? Texas Muni Puts Managers to the (Psyche) Test

Chris Schelling, director, private equity, at Texas Municipal Retirement System (TMRS), has long had an interest in psychology. He majored in psychology at the University of Illinois at Urbana-Champaign before going on to receive his MBA from the University of Illinois at Chicago and an MS in financial markets from the Illinois Institute of Technology.  …

Investment Strategy: Kentucky System Looks to Take Advantage of Coming Distressed Cycle

The investment team at the Kentucky Retirement Systems (KRS),which includes the Kentucky Employees Retirement System, the County Employees Retirement System, and the State Police Retirement System, is preparing for what they believe is a coming recession, by looking for opportunities to invest in distressed assets. It is also lightening its public equities exposure, moving more fixed income and stocks into …

USF Endowment Rebalances Portfolio, Increases Equities Target

The University of San Francisco endowment has increased its domestic equities portfolio target from 23% to 33% of its overall portfolio, and its international public equities target from 15% to 20%, to be more in-line with its current, actual allocations, according to Stacy Lewis, associate vice president, finance and treasury, at the $400 million endowment. …

LA Water & Power Preps PE Pursuit

The approximately $15 billion Los Angeles Water & Power Employees’ Retirement Plan (WPERP) intends to commit $400 million to private equity this year and continue to deploy capital in private equity to achieve its long-term strategic allocation target, Jeremy Wolfson, chief investment officer, confirmed. WPERP has adopted a target allocation to private equity of 8% …

Renewables Dominate Infra Sector as ESG Resonates with Investors

Renewable energy deals heated up the infrastructure sector last year, as investors sought to put an Environmental, Social Governance (ESG) focus on more of their investment portfolios. The trend should continue this year, according to Patrick Adefuye, head of real assets at research firm Preqin. Europe has been leading the charge in renewable deal offerings, but …

CTPF Jumps Into Africa

Investors’ Long Day’s Journey into Africa Investing Continues The approximately $11 billion Chicago Teachers’ Pension Fund (CTPF) evidently was attentive and took careful notes as part of a delegation of investors that visited South Africa in the spring of 2017, and Senegal and South Africa one year later. The upshot: At its Jan.17 board meeting, …

California County System Poaches NY Common’s Sr. Invest. Officer Tucker

Reginald D. Tucker, senior investment officer of opportunistic investments and absolute return strategies at the New York Common Retirement Fund (NYCRF), is leaving his post after five years to join The Orange County Employees Retirement System (OCERS) in a newly created managing director position, he confirmed. At OCERS, he will continue to source investments across all asset classes …

Single-Digit Level Returns for Developed Equities in 2019: Cambridge Predicts

Analysts, consultants and asset managers have all been weighing in with their 2019 investment outlooks, forecasts and reports. Many are emphasizing the geopolitical and macro-economic risks that are bearing down on the market. Cambridge Associates shares those concerns. “But we also look at fundamentals and valuations, and the picture there is a little less gloomy …