Evelyn Lee
Peter Larsen, who previously was co-head of real estate investments at Hamilton Lane, now will serve as principal at the Greenwich, Connecticut-based placement agent and advisory firm.
Among the $90.9 billion pension plan’s new commitments are its first ones to Gaw Capital Partners and Abacus Capital Group.
Scott White will serve as the first capital-raiser for the Indiana-based senior housing developer, with a focus on private equity real estate investors.
The $39.2 billion pension plan has committed less than a quarter of the capital intended for real estate investments in commingled funds and co-investments during its current fiscal year.
The New York-based asset manager has been raising capital for its latest real estate funds at a quicker-than-expected pace, with initial closings completed or expected to occur this quarter.
The $260 billion pension system has approved a two-year extension of its interim real estate portfolio limits to give itself more time to increase its core exposure.
Although investors remain in the driver’s seat when negotiating with managers, there are limitations to what they can get.
Delegates at this week’s Global Investor Forum in Los Angeles were advised to pay heed to the increasing impact of the market’s smaller investors.
Requiring a manager to put some “skin in the game" may be more problematic than beneficial for a limited partner when striving to achieve alignment of interest.
Four senior executives in the Toronto- and New York-based alternative asset manager’s private funds group have been laid off or resigned in recent months, contributing to significant turnover of the fundraising team in the last year.
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