In a city known for cultivating teams with winning records, be it the Giants or the 49ers, the San Francisco Employees’ Retirement System has built a private equity portfolio whose performance tops anything I’ve come across. The diversified, 249-fund portfolio, dating back to 1987, has achieved an overall investment multiple of 1.65x as of June [...]
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Things haven’t been going so great over at the Pennsylvania State Employees’ Retirement System. It faces increasing obligations to pensioners, is over-allocated to private equity and has lost staff from its PE investment team. Against that backdrop, the $25 billion pension fund has been seeking buyers for as much as $3 billion worth of its PE investments, one [...]