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Tag Archives: Private Equity
Private equity needs purpose (not debt)
Writing in the FT this weekend John Plender observes Because asset managers in public markets are widely assessed against index benchmarks, they engage in momentum trading, constantly have to chase stocks that are rising strongly but in which they … Continue reading
Investing in illiquids requires better information
Conversations about illiquid investments have been continuing for some time. My interest in what has become a key element of Government thinking was sparked by this excellent conversation at a Hymans Robertson conference in January I’m impressed by a … Continue reading
The state of private equity and what it means for pensions
🇬🇧 Private Equity Offers Discount Fees As Dealmaking Drought Deters Investors ▫Sweeteners aimed at big backers ▫Cut-throat competition for cash ▫Industry fortunes face reversal ▫@william_louch @JosephineCumbo 🇬🇧#frontpagestoday #UK @FinancialTimes pic.twitter.com/sjXBfUpjIg — 𝙵𝚛𝚘𝚗𝚝 𝙿𝚊𝚐𝚎𝚜 𝚃𝚘𝚍𝚊𝚢 📰 (@ukpapers) August 8, 2023 I … Continue reading
16bn reasons why USS was saved by the discount rate
Saved by the discount rate! — Richard Disney (@RichardDisney) July 26, 2023 Richard Disney’s verdict on the state of the USS pension scheme , which as I mentioned last week, is showing that it lost £16bn of its asset base … Continue reading
Posted in pensions
Tagged Bill Galvin, dc, LDI, Pensions, Private Equity, Simon Pilcher, USS
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Illiquids in DC pensions – what’s in it for employers?
I’ve been reading the Productive Finance Working Group’s (PFWG) paper designed to remove the barriers to our workplace DC schemes investing in productive but illiquid investments. They have a tough task ahead of them convincing the purchasers of workplace pensions … Continue reading
Is leverage in private equity funds ok for pensions?
I’m troubled by a question we got from Stephen Timms at the WPC meet in November. Timms asked if we knew of any other areas in which the pension market could be facing liquidity risk. I was going to … Continue reading
Can private markets improve DC outcomes? – We must trust our Trustees.
Private market investments are dark horses. We can see they make people rich but so far, those riches have not been shared with people saving for their own retirement. Lee Hollingsworth asks the reasonable question, “why is private equity so … Continue reading
PE continuation funds – “greed washing”?
As the investment of our workplace pensions moves inexorably into private markets, we would do well to understand the perils (as well as the advantages) of using private equity funds and employing the very clever (but sometimes unscrupulous) firms … Continue reading
Private equity – does the sausage match the sizzle?
Private markets are being touted as the promised land for retail investors. They off “milk and honey” at a time when the traditional asset classes can barely feed us locusts. At the PLSA conference, some managers I spoke to … Continue reading
Posted in pensions
Tagged Pensions, Private Equity, Private equity fund, Sausage, sizzle, wealth management
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Is Private Equity heading for another Glass-Steagall moment?
“Nothing short of a moment for private capital” — that’s how one source described the SEC’s proposed rules for hedge funds and private equity. But since the proposals dropped, the buzz has died down. Investors have got other … Continue reading