Playbooks, LP intelligence, and compliance guides, written for GPs running their own raise, not for the placement agent doing it for them.
Two senior seats at the Future Fund are in motion: a CEO handover on 1 January and a CIO search to follow. Five steps for writing to an allocator while its investment lead is unnamed.
McKnight created its first CIO seat and filled it with an impact investor who starts on 30 November. She will run a $2.8 billion endowment that is already more than half mission aligned.
FPPA approved $240 million for two hedge funds, $200 million of it to Millennium, even though its diversifiers book already stands at 11.1% against an 11% target.
FPPA ended its dedicated long/short equity allocation, raised its diversifiers target and just committed $240 million to two hedge funds. How to pitch a pension that is rebuilding that bucket.
McKnight's first CIO, Priya Parrish, starts on 30 November with a public trail of boards and investment committees. How a fund manager can map real connections to her before the first meeting.
Two large European LPs, acting as co-lead plaintiffs, settled with SVB's former auditor for $224.5 million after more than three years. The case continues against other defendants.
AP2 named Nordea's Patrik Svensson CEO on 11 November, but he starts only on 1 June 2027. How to keep a relationship moving with an LP when its leader is outgoing for 200 more days.
The FCA wants certain performance fees outside the 0.75% pension charge cap, with new valuation and fee safeguards. Replies are due 14 January 2027; final rules are expected in summer 2027.
NZ Super Fund ended its in-house active NZ equities mandate, leaving NZ listed equities at about 4% of the fund, and hired an alternatives manager. An NZ$814 million external mandate stays.
AP2 will hand over to a banker on 1 June 2027, 202 days after announcing him. The Swedish buffer fund's first-half result of SEK 48.0 billion was 2.3 times its 2025 total.
Canada named Karen Karniol-Tambour CEO of the new C$25 billion Canada Strong Fund on 9 November, but no board or investment team is public yet. How to write to an allocator that is still being built.
CPP Investments lost 0.5% in the July to September quarter as higher bond yields hit fixed income, but C$7.3 billion of net transfers lifted net assets to C$866.2 billion. Six-month return: 7.0%.
Canada's new sovereign wealth fund has its first chief executive, Bridgewater co-CIO Karen Karniol-Tambour. It opens with a C$25 billion commitment; no board or start date has been announced.
Nigeria's pension industry plans a $750 million infrastructure platform: about $600 million from pension funds, at least $150 million from development lenders, and a $350 million first close in 2027.
Nigeria's pension industry plans to choose a manager for a $750 million infrastructure platform through a competitive process. Six steps for a fund manager preparing to compete for it.
PSP Investments will buy 50% of Enercare for C$1.6 billion, a deal it says ranks among its most significant direct infrastructure investments in Canada. Close is expected in the first half of 2027.
PSP and Brookfield have co-invested since 2018 and PSP has now agreed to buy half of Enercare for C$1.6 billion. A six-step method for mapping warm paths through a repeat partnership.
Corporate plans lost a median 3.7% in the third quarter while endowments gained 0.7% and public funds lost 0.1%. The sample covers 362 large US plans and about $1.6 trillion.
With 15% of LPs planning to cut manager rosters, up from 4%, and 65% still adding, the job is to be a keeper, not just a new name. Five steps for GPs who already have LPs.
A survey of 400 private markets professionals, 370 of them LPs, finds 15% plan to cut manager rosters, up from 4%. Nearly half now favour managers under $500 million.
The Future Fund's one-year return fell to 11.0% from 14.8% in a quarter, still above its 8.2% target. Private equity is 12.1% of its A$289.9 billion portfolio.
GPIF lost 5.25 trillion yen, or 1.65%, in the quarter to 30 September after gaining 8.20% in the one before. Foreign bonds fell 6.52% and alternatives are 1.72% of the fund.
LACERS posted its CIO job on 27 October after Rodney June retired in July. How to write to a pension while the top investment seat is empty: who to address, what to send and when to follow up.
The Labor Department's final 401(k) rule on choosing investment options, including private-market funds, went to White House review on 5 November. Final text is not public.
The UK government is consulting until 27 January 2027 on draft guidance on how pension trustees apply fiduciary duties to investments. It adds no new duties. Here is what GPs should check.
TPT Retirement Solutions applied on 4 November to launch the UK's first open-market collective pension. More than 10 employers with over 20,000 members are interested.
The Los Angeles City pension is recruiting a new chief investment officer after Rodney June retired in July, and the job was posted on 27 October. Here is what GPs should do while the seat is open.
Igneo's European Infrastructure Fund IV closed at its €6 billion hard cap, 50% above target, in six months. Here is what a GP raising a mid-market fund can take from that pace.
CPP Investments, OMERS, IMCO and PSP all appear in one $3.1 billion Blackstone-led deal announced 2 November. Here is how a GP can use that overlap to map warm paths into all four.
Virginia's pension committed €125 million to Igneo's fourth European infrastructure fund, which closed at its €6 billion hard cap, 50% above its €4 billion target, in six months.
Four of Canada's largest pension investors joined Blackstone in a $3.1 billion deal for 49.9% of a Mitsubishi subsidiary that holds its stake in LNG Canada. Mitsubishi stays in control.
APG, acting for ABP, put €400 million into a managed account with infrastructure manager Equitix and plans €100 million more in a fund, aimed at rolling stock, offshore transmission and water.
Columbia's endowment returned 18.3% in fiscal 2026 to reach $17.9 billion, led by hedge funds, yet five of eight Ivy schools did better. It says it is growing pickier on private deals.
All eight Ivy League endowments have now reported fiscal 2026. The top four averaged 26.1% and the bottom four 18.1%, and the top four hold 79% of the combined $246.9 billion.
APG put €400 million into a managed account with Equitix for ABP and contemplates €100 million more in a fund. How a GP can pitch a pension that may want a tailored account and a fund together.
The SEC raised its small-adviser threshold from $25 million to $1 billion in assets on 4 November. It is a definition for the SEC's own rule analysis, so check what it does and does not change.
New Jersey's Division of Investment hired a Head of Private Equity and a Head of Real Estate, both starting 2 November. Here is how a GP can map shared history with each before writing to them.
New Jersey's pension fund returned 14.82% in the year to 30 June 2026, its third straight double-digit year, and real assets returned 23.76% against a 13.33% benchmark.
Ontario Pension Board named its Chief Pension Officer, Marc Rondeau, President and CEO from 15 November, succeeding Darwin Bozek at a plan with about $40 billion in assets and 105,000 members.
Norway's wealth fund returned -0.5% in Q3 2026 as bonds fell 3.5%, while its unlisted renewable energy infrastructure returned 7.5% and a stronger krone cut NOK 472 billion from value.
US public pensions fell to 87.4% funded in September and paid out more than they took in. Six steps for a GP pitching a plan that needs cash back, from DPI to call pacing.
The 100 largest US public pension plans ended September 87.4% funded, down from 89.0%, with a $877 billion deficit and 47 plans above 90% funded, down from 51.
Alecta made its head of equities the permanent head of asset management from 1 November. How to write to an LP after an internal promotion, what to reference, and what to leave out.
Nest and Scottish Widows now both put workplace pension money into UK venture through appointed managers. A playbook for GPs on who actually decides, what to send and what to avoid.
Churchill's third junior capital fund closed at $1.54 billion, 54% above its $1 billion target. About $665 million, or 43% of the total, came through rated feeders built for insurers.
Alecta has made Magnus Tell its permanent head of asset management from 1 November. He was head of equities and has been interim head since 1 September, when Pablo Bernengo became CEO.
Scottish Widows has begun putting workplace pension savings into UK venture growth, with IP Group picking the companies. Four are named first, and the size of the allocation was not disclosed.
A development bank, two sovereign funds, a pension fund, a state fund and a securities firm are building one regional PE fund. Here is how a GP can map a warm path to each of the six.
From 21 October 2026, FINRA's private placement filing exemption covers sales to family offices with more than $5 million under management and entities owning more than $5 million of investments.
Qatar Investment Authority's CEO said the fund plans to invest $500 billion in the US over ten years, naming private equity and private credit among its targets. That averages $50 billion a year.
Six investors, among them China's CIC, Oman's wealth fund and Turkey's OYAK, announced a private equity fund for Central Asia and the Caucasus. Fund size and stakes were not disclosed.
Bowdoin's endowment returned 26% in fiscal 2026 and reached a record $3.6 billion, well ahead of the 16.2% median. It now funds half of the college's budget, which shapes how GPs should approach it.
Michigan's endowment returned 20.7% and grew to $25 billion, while distributions rose 5.8% to $569 million. What the gap between value and payout means for a GP approaching the university.
Bowdoin pays out 5% of a 12-quarter average, relies on its endowment for half its budget and named a new CIO in June. Six steps for a GP pitching a small college endowment after a 26% year.
GEM closed its second independent sponsors fund at the hard cap, raising $685 million of new capital against about $450 million for the first. LPs are still backing deal-by-deal programs.
Yale gained $11.3 billion in fiscal 2026 and put the related tax at roughly $900 million. Five lines to put in a note to an endowment CIO who is thinking about what it keeps, not just what it earns.
Mubadala Capital will add Apollo and other minority shareholders and expects $5 billion of commitments at initial close. Six steps for a GP approaching a sovereign whose manager arm is now raising.
Abu Dhabi's Mubadala Capital will add Apollo and other strategic investors as minority shareholders, and expects $5 billion of commitments to its strategies at initial close. Details undisclosed.
Yale's endowment gained 26.3% in the year to June, adding $11.3 billion to reach $54.5 billion. A roughly $900 million tax bill on that gain shapes what GPs should say to its investment office.
A Middle East-based family office has named a 14-year endowment veteran as global head of private equity, reporting to its CIO. What the hire means for managers raising from family offices.
A Middle East-based family office named a 14-year endowment investor as global head of private equity on 22 October. A step-by-step way to map the warm paths to a new decision maker.
Sovereign wealth funds invested $14.2 billion in mainland China and Hong Kong in the first nine months of 2026, about 190% above all of 2025. Four Gulf funds supplied nearly 70% of it.
Ontario Teachers' will add Asia-Pacific to the remit of the executive who runs Teachers' Venture Growth, a book that grew 69% in six months to C$25.9 billion, 9% of net investments.
Japan's Meiji Yasuda plans to raise its commitment to Man Group's strategies to about $1.25 billion over three years, focused on private credit, and is weighing a stake of about 5% in the manager.
OMERS agreed on 27 October to buy an indirect minority stake in Australia's A$27 billion La Trobe Financial from Brookfield. Size and price are undisclosed, and closing is expected in Q1 2027.
Three in four insurers plan to add to private markets over the next 12 months, down from 94% last year, and 41% name private debt as the area to grow, a survey of 463 insurers finds.
In a survey of 463 insurers, 74% plan to reach private debt through separate accounts or bespoke mandates. How a GP can prepare to pitch an insurer that wants to shape the mandate.
In a survey of 225 LPs, 78% name track record as the deciding factor when adding a new manager, and slow distributions are the top constraint. How to build a first email around realized results.
Norway's wealth fund manager has now picked Ares as a logistics partner, 13 years after its Prologis venture began. A guide to mapping the platforms an LP already uses, and the people around them.
In a survey of 225 LPs, 84% plan to hold or raise private markets deployment, but only 37% expect to deploy more than last year, down from 43%. Slow distributions top the list of constraints.
Norway's wealth fund manager signed a €1.5 billion equity commitment on 20 October to a new European logistics partnership with Ares, and will hold 96% of it. A structure worth studying.
The SEC approved a FINRA change on 15 October that lets broker-dealers show projected performance and targeted returns under conditions. It matters if a placement agent handles your fund materials.
Canada's C$700 million fund-of-funds call needs at least C$3 of private money for every C$1 of public capital. Here is how a GP can prepare before the 21 January 2027 deadline.
Northwind Group closed Northwind Debt Fund III at $1 billion on 21 October, twice its $500 million target, with pensions, insurers, banks and family offices among the investors.
Canada opened a C$700 million fund-of-funds call on 22 October, part of a C$1.75 billion plan. Applications close 21 January 2027, and managers must raise at least C$3 private for every C$1 public.
The SEC's Division of Examinations published its fiscal 2027 priorities on 23 October, naming private funds and private credit. What fund managers should check on fees, valuation and conflicts.
Bouwinvest, which serves more than 35 institutional clients, launched a US office account with Tishman Speyer on 23 October. How to write to an LP that invests through a manager, not directly.
Ara Partners closed Ara Energy Fund I at its hard cap with $2.5 billion in total, of which $1.8 billion is fund commitments and more than $700 million is co-investment. It took about 10 months.
Bouwinvest and Tishman Speyer launched a US office account on 23 October. Its first investment is the Chrysler Building lease, a $235 million equity deal. Account size is undisclosed.
A survey of 206 family offices finds 65% give the next generation little or no say in investments and 28% name governance as their top challenge. How a GP can map the real decision path.
Arizona's PSPRS is below target in private equity and credit and says it funds both gradually to manage cash drag and vintage diversification. A GP playbook for pitching a pension that paces itself.
In a survey of 206 single-family offices, 30% plan to raise infrastructure and 32% private equity over 12 months, while newer offices lean to secondaries and older ones to co-investments.
rizona's $28.1 billion public safety pension holds 23.1% in private equity against a 26% target and 17.9% in private credit against 20%, and says it is funding both gradually. What it means for a GP.
Pennsylvania's PSERS approved up to $525 million for four funds on 22 October and says its fee rate has fallen to about 0.39% from 0.92% in 2017. What it means for a GP.
Two Canadian pension plans are selling their entire stakes in the UK's largest port operator to a fund managed by IFM Investors. Terms are undisclosed and closing is expected in 2027.
UK pension providers in the Mansion House Accord hold £22.1 billion in private markets, 6.6% of growth-phase assets against a 10% goal. Where the money sits and what it means.
A new FCA paper would limit UK retail funds that hold mostly illiquid assets to one dealing day a month with 90 days' notice. Responses are due on 11 December. Here is what to review.
Dartmouth's endowment returned 17.5% and reached $10 billion, but its five-year return slipped to 6.8% from 11.6%. What the numbers say and how a GP can use them.
MacArthur Foundation is raising its impact investing pool by 50% to $750 million from 2027, with repaid capital recycled. How a GP can pitch a foundation that lends and invests to get its money back.
A Canadian pension and Nuveen Real Estate have put $790 million into 19 U.S. grocery-anchored shopping centers through a new joint venture. Why LPs are choosing partnerships over blind-pool funds.
Germany's €27.6 billion nuclear waste fund has chosen a former ERGO investment chief as its next CEO and CIO from 1 January 2027, and is reshaping its advisory board. What managers should do now.
Nest's private equity co-investment mandate with HarbourVest has passed £2 billion, up from £750 million in 2022, and private equity is now about 5% of the scheme. What it means for managers.
NZ Super's fund returned 14.17% but finished 0.10 points behind its passive benchmark. How a GP can write to a sovereign investor that judges everyone against a public-market yardstick.
Blackstone's fifth energy transition fund closed at its $8.7 billion hard cap on 19 October, significantly oversubscribed and more than 50% larger than the fund before it.
NPS's chairman told a parliamentary audit that its rebalancing rule would have forced about 800 billion won of stock sales a day. The fund raised its domestic equity target to 20.8%.
NZ Super returned 14.17% in the year to 30 June and grew to NZ$94.4 billion, yet it now expects 7.2% a year over the long term, down from 7.8%. What that means for GPs.
Virginia and Texas County pensions both committed to Spectrum Equity XI and GTCR XV within about two weeks of each other. How a GP can turn shared managers into a warm path map.
TCDRS closed $250 million to Crescent on 2 October, its tenth direct lending commitment of 2026. Direct lending has taken 77% of the $2.6 billion it has committed to credit this year.
Nauta's sixth fund held a EUR 60 million first close, half from the British Business Bank, with about three-quarters of investors returning. The final close targets EUR 150 million to 200 million.
VRS closed six commitments worth $1.325 billion in four weeks, with $675 million going to private equity and credit, about a third of the private markets capital in the prior window.
Princeton's endowment returned 23.7% last year yet still budgets for 8%, down from 10.2%. Here is how a GP can build a pitch for an endowment planning on a lower number.
EMK closed a EUR 1.25 billion continuation fund for VDK on 15 October, co-led by Coller EQT and LGT, in the same week Coller EQT reported $2.7 billion raised from insurance products.
KCERA split $150 million in September between a systematic equity mandate, an energy credit fund and a New York real estate loan. Two of the three built on managers it already backs.
Princeton's endowment gained 23.7% in fiscal 2026 and hit a record $42.3 billion, yet the university still plans on 8% a year. What that lower yardstick means for GPs pitching endowments.
Illinois Police Officers' Pension Investment Fund moved $250 million to TA Realty's Fund XIV ahead of a 31 December final close. Other finalists in its $450 million search are due 11 December.
A survey of 155 family offices finds direct deals average 45% of private holdings against 36% for funds, and 47% of those who tried to exit a fund position could not.
QIA's $3 billion Fund of Funds took on its 13th manager, Activate Capital, which must open a Doha office. QIA's head of funds says no new fund deals are on the radar.
Ohio Police & Fire holds 8.65% in real estate against a 12% target and has just set aside up to $100 million for Jadian. Five steps for a GP pitching a pension that still has room to fill.
The FCA proposes three NAV-based tiers for UK fund managers, and the Treasury would end the registered regime. Comments on the main consultation close on 22 October. Here is what to review.
The UK's largest local government pension scheme split £30 million between a UK-wide social infrastructure fund and a regional sidecar, its second bespoke North West vehicle in 21 months.
Varma committed about €68 million, around 40% of the €170 million four Finnish institutions put in before the IPO book opened. Its private equity trailed listed equities in the first half.
A California pension has put a private equity consultant search on its board agenda. Here is how to write to its staff and to the consultants, and what to leave out while the search runs.
Harvard's endowment gained 27.1% in fiscal 2026 and grew by $11.1 billion to $68 billion. Private equity is now 46% of it, just as the federal tax on its investment income rises to 8%.
Three infrastructure funds closed on more than $42 billion in the third quarter. Nine-month fundraising is about $100 billion, but one tracker finds the rest of the market roughly flat year on year.
LACERA's 14 October board agenda includes a private equity consultant search, a plan to close three committees and six meetings a year from 2027, after $275 million of new commitments.
ABP's EUR 150 million forestry cheque was announced by APG, its asset manager. Here is how GPs can map the two layers behind a EUR 568 billion pension and who to look for in each.
UK venture managers raised $6.9 billion across 31 funds in one quarter, more than four times the recent average, but Index Ventures took roughly half of the total.
UK venture managers raised $6.9 billion in a quarter, but 22 of the 31 funds shared only about $1.2 billion. Six steps for a GP raising a fund outside the largest names.
A Dutch pension giant put EUR 150 million into a European forestry fund, reportedly enough to anchor and close it, against a EUR 200 million target set when the fund launched.
A $6.7 billion Wisconsin pension fund plans no new private equity commitments in 2027. Here is how GPs should handle an LP that stops writing new cheques but still owns your fund.
The SEC proposes to replace the $2.7 million net worth and $1.4 million assets tests for performance fees with the accredited investor standard. Comments are due 7 December 2026.
A $6.7 billion Wisconsin pension fund is recommending no new private equity commitments in 2027, with a long glidepath to about 4% of assets by 2035. Here is what that means for GPs.
A survey of 77 hospitals and health systems finds 43% expect to draw on reserves this year, up from 37%. Here is how GPs should adjust terms, reporting and timing when pitching them.
A $23 billion state pension has up to $100 million for a single sponsor on its 8 October agenda, a month after approving $890 million across four managers. Credit took 56% of the September total.
Consonance Capital Partners closed its third fund at the $1.35 billion hard cap after just under four months, 58% above the $856 million second fund, with endowments and pensions among its investors.
A Danish pension fund with about DKK 170 billion in assets has handed a manager EUR 200 million to co-invest in European lower and mid-market companies, under 1% of its assets.
Aphias Capital closed its first fund at just over $1.05 billion, above a $900 million target and over its hard cap. Public pensions, health systems and insurers are among the investors.
Aphias Capital's $1.05 billion debut fund drew eight types of LP, including health systems and insurers. A step-by-step way to map the warm paths into each type before you start a raise.
AustralianSuper has published the five tests it applies to venture managers. Here is how to turn each into a line in a first email, with numbers an LP can check, and what to leave out.
AustralianSuper says its Australian venture commitments have passed A$1.5 billion, still under 0.5% of a portfolio above A$430 billion. It invests through several managers plus some co-investment.
Spectrum Equity closed its eleventh flagship at $2.5 billion in one oversubscribed close, 25% above Fund X. More than 50 investors are founders or executives of portfolio companies.
Mubadala plans to deploy about $39 billion a year through all cycles. Asia has grown from about 10% to about 13% of its $385 billion portfolio, with China, South Korea, India and Japan in focus.
Brown says it enters the 4% tier of the federal excise tax on university investment gains in fiscal 2027. How the three tiers work, and five steps GPs can take when pitching universities.
Brown's endowment returned 19.6% in the year to 30 June, its best in five years, and grew to $9.5 billion. CIO Jane Dietze leaves at year end, with deputy Joshua Kennedy set to take over.
Cedars-Sinai named Michael Buchman, CIO of the Hilton Foundation's $8.3 billion portfolio since 2021, to run its $8 billion pool from 1 December. How GPs map the network he brings and leaves.
Middle East and North Africa sovereign investors put $102 billion into 245 deals from January to September. Mubadala led at $26.2 billion, and the US took 45% of the value.
Two repeat LPs are back in Nuveen's new Australian property debt strategy, which opened above A$1 billion. CPP Investments committed A$300 million, the same cheque it wrote for the last one.
Pennsylvania SERS will put up to $130 million into a manager it has never backed, split between a flagship fund and a sidecar, while its own figures show private equity 1.7 points under target.
The SEC says $103 million will go back to harmed investors in the Western Asset allocation case, with Ken Leech agreeing to a $3 million penalty. Six checks for private fund allocation policies.
Oxford's endowment manager has hired the head of international and global sales at Millennium Advisors as CEO, starting 2 November 2026. The chief investment officer stays in place.
The SEC will hold a virtual compliance seminar on 19 November 2026 with speakers from Examinations, Investment Management and Enforcement. Private fund topics are on the agenda. How to prepare.
CPP Investments and GIP will hold half of a new AT&T fiber company across 16 states, with AT&T keeping the rest. The equity amount and the split between the two investors were not disclosed.
LS Power has closed its sixth flagship fund at $6 billion against a $4 billion target, up from $2.7 billion for Fund V. Pensions, insurers and sovereign funds are among the investors.
CalPERS wants more private credit aimed at the energy transition, and says it has seen near-equity returns for debt risk. Only $11 billion of $41.3 billion invested in the sector in H1 2026 was debt.
At Blue Owl's tech credit fund, investors asked for 39% of shares back in Q3 while a 5% cap limited fills to about 12% of requests. What GPs offering semi-liquid funds should build in.
The SEC's examinations division published a handbook on 1 October 2026 setting out each stage of an exam, from selection to the disposition letter. It is guidance, not a rule. Here is how to prepare.
Ohio PERS has allocated $800 million to three US real estate debt vehicles. Half goes to a separate account with Ohana, its first investment with that manager. The rest is split between two funds.
Colorado Health Foundation has named Cecelia Chen managing director to lead private markets across its $3 billion portfolio. Here is how a GP can build a warm path to a new lead without a cold email.
Ares, GIC and Pantheon are backing a continuation vehicle of more than $4 billion at infrastructure manager Meridiam. A step-by-step plan for GPs on how to take existing LPs through a GP-led deal.
Ohio State's $9.7 billion endowment pool returned 16.03% in the year to 30 June 2026, against a preliminary benchmark of 17.08%. Over five years it is ahead, at 9.17% a year against 7.81%.
New York State Common made two real estate commitments worth up to $306.3 million in August and terminated a $1.2 billion international equity investment. The fund is worth $309.7 billion.
Audax Private Debt has closed its largest fund, with $5.4 billion of equity commitments against a $4 billion target and nearly double its predecessor. More than 100 institutions backed it.
German manager DTCP has reached a EUR 455 million first close for a defence technology fund. Denmark's EIFO put in DKK500 million and Danica DKK375 million. Final close is due in Q1 2027.
Nigeria's pension industry has pledged N241 billion, about $181.6 million, to infrastructure, but nothing is deployed and first cheques are targeted for Q2 2027. How to pitch an LP in waiting.
Sacramento County's $16.5 billion pension has committed $35 million to an Accel-KKR buyout fund. Its private equity portfolio has returned a 15.2% net IRR since inception.
Norway's wealth fund is committing EUR 1.2 billion to Copenhagen Infrastructure Partners' sixth flagship fund, up from EUR 900 million in 2024. Unlisted renewables are just 0.4% of its holdings.
Mellon Foundation named Abigail Kahn Archibald CIO after 15 years inside its investment team. When the new chief is an insider, the warm path runs through existing managers, not a fresh network.
Ares raised $4.2 billion, over four times its target, for preferred equity to managers, including to fund their own fund commitments. A playbook on sizing and funding your GP commitment.
The executive who built Japan's GPIF private markets program over about ten years has joined StepStone as Vice Chairman, Japan. What an LP-to-GP move means for managers courting Japanese capital.
In a survey of 351 family offices, 26% plan to add private equity next year while 46% already raised public equity. Europe, Middle East and Africa offices are keener than North America.
On 1 October the SEC proposed replacing the adviser custody rule, dropping the PCAOB requirement for accountants and setting crypto self-custody conditions. Comments are due 60 days after publication.
Oaktree has closed its first Asset-Backed Finance fund at $2 billion, hitting its target with US public pensions and sovereign wealth funds among the investors. The platform has $19 billion invested.
Liberty Mutual Investments has set aside up to $750 million for a new infrastructure debt strategy with Orion Infrastructure Capital. About 32% is committed already. What credit managers should note.
On 30 September the SEC proposed letting accredited investors count as qualified clients for performance fees, and a 20% of net gains cap for registered funds. What GPs should check now.
UNC's endowment returned 37.8% on an early SpaceX stake while MIT made 10.3%, a 27.5 point gap across six endowments. What one concentrated winner means for GPs pitching endowments.
Oregon's pension cut its private equity target to 19% and created a 7.5% credit class, while holding 23% in PE today. How to shape outreach for an LP that is overweight and rebalancing.
CalPERS posted 14.8% for fiscal 2026 and $637.1 billion in assets, yet its five-year return is 6.83% against a 6.8% assumption. What a thin cushion means for GPs.
The Permanent University Fund returned 14.87% in the year to 31 August and holds $45.9 billion, 4.75 points above its benchmark. UTIMCO oversees $95.3 billion in all.
The SEC alleges a fund lost about $3 million after failing to cure a capital call on a SpaceX investment. A playbook for GPs on capital call timing, default terms and investor reporting.
Temasek will open offices in Abu Dhabi and Riyadh in 2027, lifting its network from 13 offices in 9 countries to 15 in 11. What a Gulf presence could mean for fund
Private equity closed 30.5% fewer funds in the first nine months of 2026, yet raised 3.1% more capital, at $368.1 billion. Exits jumped 65% on the quarter, a sign distributions are returning.
With Commissioner Peirce gone on 2 October, the SEC has two of five members and has amended its quorum rule. Three proposals touching GPs are open, and the pay-to-play rule stays in force.
CPP Investments will sell its 10.5% of WestConnex and 25% of NorthWestern Roads Group for A$4.5 billion, ending a 16-year run and recycling capital the week it bought into a Germany-UK power link.
A survey of 173 public pension plans with $5.9 trillion in assets finds 62% have no trouble hiring, 80.3% offer hybrid work and salaries are set to rise 3.7%. Relationships may last longer.
Nest will move £3.5 billion, about 5.2% of its £68 billion, from a passive emerging markets strategy of roughly 1,000 stocks to an active mandate holding 100 to 150.
MIT's endowment returned 10.3% in fiscal 2026 and reached $29.2 billion, with an 11.7% ten-year annualised return. Stanford and Penn both posted returns above 27%, so the gap is wide.
TPG has raised $10 billion for Rise Climate II, with New York City and Michigan pension funds reported among its investors, and was set to stop taking new commitments at the end of September.
PRI Pensionsgaranti has made Michael Timm chief investment officer and head of credit and asset management. His career through Nordea and SPP gives GPs a map of warm paths to follow.
Stanford returned 31.7%, Penn 27.4% and MIT 10.3% in fiscal 2026. Each result gives a GP a reason to write. A five-step guide to what to send a CIO and what to leave out.
A survey of more than 600 wealthy investors finds 72% now hold private markets, 60% plan to add, and 53% want better fees. A six-step playbook for GPs designing terms for them.
Singapore's GIC paid about ¥125 billion, roughly $800 million, for 16 Marriott-run hotels in Japan sold by KKR, an average of about ¥7.8 billion a hotel.
ABP will put EUR 250 million into the EUR 5 billion Scaleup Europe Fund as the first step in about EUR 1 billion of European growth investing over three years.
Massachusetts PRIM's $129.5 billion fund closes a manager search on 9 October with six hard screens and a no-contact rule. Learn what a GP can copy from it for any pension approach.
A survey of 430 investors with over $5 trillion finds 52% of Canadian institutions plan to cut US equity, and two thirds plan to add infrastructure. Cash interest jumped to 37.8% from 9%.
Contra Costa County's pension has zero infrastructure commitments closed in 2026, four $50 million candidates in diligence, and a 2027 pace of about $90 million, down from $130 million in 2025.
The SEC proposed rules on 30 September 2026 to widen retail access to private markets, with new accredited investor routes open for comment. A GP guide to what changes, and what does not yet.
Technology hit 39% of S&P 500 market value in early June, a record, and diversifying strategies took 18% of new manager mandates in the year to 30 June, led by hedge fund searches.
Los Angeles city pension LACERS kept its $602 million emerging market debt manager after four periods of outperformance, while cutting the asset class target from 4% to 3% by July 2027.
Swiss accident insurer Suva will buy collateralised loan obligations for the first time, aiming for 2% of its portfolio, about CHF 1.2 billion, in triple-A European tranches only.
Daren Smith left Abu Dhabi's ADIC to run the $11.5 billion NUS endowment from 1 October. Here is how GPs can trace a new CIO's old manager relationships and find the warmest route in.
Distributions are at record lows against NAV, one in five LPs is cutting allocations, and pensions this week trimmed or paused. A six-step plan for managers raising when LPs want cash back.
US public pensions committed $100.9B to private equity in 2025, up 24% from $81.2B, and CalPERS, CalSTRS and New York State together took about 37% of the total.
The 20 largest funds took about 55% of first-half 2026 commitments, $171B of $312B. Here is a practical plan for managers raising below the mega-fund tier to reach a first close.
Illinois SURS plans to commit $450M to $550M across real estate, infrastructure and agriculture funds in 2026 and accepts submissions at any time. Here is how a GP should respond.
Stanford's endowment returned 31.7% in the year to 30 June 2026, more than double the 15.5% median for US college endowments, and will pay $2.2B to the university in fiscal 2027.
Directs and co-investment reached $215B in 2025, and 78% of 56 active buyers expect a 2026 record. Here is how GPs can turn co-invest relationships into introductions to fund LPs.
Saudi Arabia's nearly $1T Public Investment Fund is reportedly weighing a first Pimco mandate of about $500M in Gulf government bonds, a step for a fund long tilted to equities and private assets.
Regulators moved the compliance date for the 2024 Form PF amendments to 1 July 2027 while a proposal would lift the filing threshold from $150M to $1B. Here is what managers should do now.
Four of New York City's five pension funds committed $300M to a union-built housing fixed income trust, lifting their cumulative investment to $583M under a $4B housing plan.
Private foundations returned 14.1% and community foundations 14.7% in 2025, a third straight double-digit year, while community foundations cut alternatives from 25% to 20.5%.
CPP Investments will invest INR 30B (C$441M) for about 27% of Prestige Hospitality Ventures, its first direct India hotel deal and another sign of large LPs buying platforms, not just fund units.
Yale and a Saudi university endowment each had roughly $1B or more of fund stakes on the market in September. Here is how GPs should handle a transfer when their LP is the seller.
45% of LPs now rank faster response times among their top three reasons to commit or re-up. Here is how GPs can build an outreach cadence that answers first.
The SEC wants to rescind its pay-to-play rule for advisers, with comments due 9 November 2026. The rule still applies today, and state and local rules do not change.
Penn's endowment returned 27.4% for the year to 30 June 2026 and grew $6.3B to $31.1B, its second-best year on record after the 41.1% of fiscal 2021.
Temasek bought a 9% minority stake in the manager of Italy's FSI, a growth equity firm with about EUR 5B managed, and will commit capital to its future funds.
TCDRS closed a $300M direct lending commitment with Silver Point on 28 September, its largest direct lending ticket of 2026 and its second $300M deal with the manager this year.
The $91.9B Alaska Permanent Fund held 16.0% in private equity at 30 June against an 18% target, with real estate and private income also under target as trustees meet.
When an allocator changes seats, her past manager relationships travel with her. The California Endowment hire of a former NYC deputy CIO shows how GPs can map that path.
Princeton Equity Group raised $1.3B for Fund III in two months, well above its $875M target and more than twice the size of its $575M Fund II.
Arkansas Teachers has five funds worth up to $345M in front of its board, including $100M for two buyout funds, while it exits one alternatives manager.
PCCP closed Equity X at $2.7B and Credit XI at $2.3B, both above hard cap, for a combined $5B and its largest raise to date.
About $2.75B went into alternatives at SWIB in Q2, with hedge strategies taking 62% of the capital and private equity 27%, a steady pace for existing managers.
Hawaii ERS is weighing more public equity as expected returns for private credit and private equity fall. No decision has been made yet.
Northwestern Medicine named Harisha Koneru Haigh CIO of a $12.9B pool with $7.1B in alternatives. Here is how GPs should approach a health system LP.
AIMCo hired Dan Teper as global head of real estate, filling a seat empty since late 2024 and putting a book of roughly C$22.6B under his watch.
OMERS promoted Laura Lenz to head OMERS Ventures, its fourth leader in about three years, with a Canada-first brief and first cheques of C$5M to C$15M.
Korea Investment Corporation is exploring a sale of more than $1B in private equity fund stakes, with PJT Partners advising. Talks are early and terms could change.
CalSTRS put more than $9B into private markets in H1 2026: close to $4.9B in real estate and about $4.4B across private equity, venture and private credit.
Why generic email blasts fail, and how GPs can leverage data, thesis-alignment, and highly personalized outreach to drastically increase LP meeting conversions.
Learn how to track real estate divestments, SPV filings, and M&A activity to pitch family offices exactly when they are liquid and ready to allocate.
The definitive 90-day structural checklist and SEO playbook we mandate before any GP takes their first LP call. Master the art of the fund launch.
A comprehensive SEO guide for emerging managers on navigating SEC Marketing Rules and AIFMD II reverse solicitation when raising capital globally.
Analyzing 10,000+ outreach attempts to understand why warm introductions close at 6.4x the rate of cold emails, and how GPs can leverage their network to find LPs.
Discover how emerging managers can extract predictive fundraising signals from LP quarterly updates, enabling GPs to target the right allocators at precisely the right time.