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The $104bn US pension has acquired interests in eight funds, having previously been an active seller on the secondaries market.
The $36bn fund reported strong private equity returns after implementing an “aggressive” restructuring plan in December 2016.
Ian Charles, a partner on Landmark Partners’ private equity team and Jamie Sunday, a partner on the firm’s real estate team, discuss how secondaries transactions worth more than $1bn may lead to a record year for deal volume.
This is the $82bn pension's first investment with the private equity and real estate secondaries firm.
The Zug-based private markets investment firm is plotting a final closing around the end of the year, approximately the same time as its nearest rival.
Will Smalley joined in July after nearly four years at Coller Capital.
The Dune Capital Management co-founder exited his interests for at least $4m to comply with conflict of interest rules.
Brexit, the Trump administration and concerns in emerging markets are the biggest challenges to investing this year, according to the secondaries firm's founder and chief investment officer.
The two deals were worth almost $2bn combined and represent the largest secondaries transaction in the asset class this year.
The 80% invested fund has closed 26 secondaries deals.