The performance of mega-funds, which account for 38% of CalPERS' private equity portfolio, as well as whether taking a stand on fees was worth missing out on quality GPs were key talking points at a recent CalPERS board meeting.
Limited partners will continue to push for more ‘investor-friendly’ terms in 2011 and are expected to receive ‘more favourable treatment’ from managers, according to a new report.
LPs at Wharton’s 2011 private equity conference said they will continue cutting back on GP relationships, and will consider making commitments to new managers who are good enough to replace existing relationships.
KKR is expected to ask one of its longest-standing LPs for a commitment to its new fund Wednesday. Oregon has already indicated it is 'contemplating' cutting its re-up, an issue that most GPs will be dealing with this year.
ILPA is making strides to better standardise the reporting process, having this week unveiled templates for capital calls and distributions.
PEI recently sat down with a panel of private equity LPs, including Michele Kinner of Quilvest, to get their insights into top issues in the industry.
If an LP sang a private equity-themed carol to the tune of 'The 12 Days of Christmas', it might go something like this...
Chris Bellairs of PricewaterhouseCoopers examines how LP demands have changed during the fundraising process.
The $102bn pension board voted to ‘rescind’ approval to buy an LP stake in Huntsman Gay's $1.1bn debut fund after failing to come to agreement with the seller.
LPs have approved a one-year extension for the investment period of the firm's, co-led by Mark Patterson, $5bn third fund.