Annabelle Ju
The firm has changed tack on its seventh energy-focused fund following ‘larger than expected capital losses’ incurred by previous vehicles.
The boutique investment bank has also promoted three people in New York.
Private equity funds now have many variations in fees, strategies and other structures that make the traditional vintage-year, net IRR benchmarking no longer sufficient, the advisory firm said.
Pension Consulting Alliance said the adoption of the ILPA fee reporting template has stalled, disappointing supporters including itself and CalPERS.
The firm, one of a few in private equity making efforts to tap the defined contribution market, is doing away with the traditional 2/20 private equity fee model for DC retirement plans.
The agency’s Office of Compliance Inspections and Examinations director Marc Wyatt will return to the private sector next month.
The announcement of Jeffery Heslop’s departure from the agency follows several others, including chairman Mary Jo White and enforcement director Andrew Ceresney.
At PEI’s CFOs and COOs Forum last week, several delegates voiced opinions on the ongoing challenge of serving individual relationships with LPs.
Following a slew of hiring in 2016, Proskauer kicked off the new year with the hiring of a partner from King & Wood Mallesons.
Teacher Retirement System of Texas, which generates some of the best private equity portfolio returns among US public pension funds, won’t invest if it thinks GPs are being greedy.