Mat Powley, a partner on the private capital team, talks about the $28bn UK multifamily office’s approach to new and venture GPs for its flagship fund of funds.
The fund’s strategic and impact-oriented LPs include big pharma names such as Pfizer, Bristol Myers Squibb, AARP and Alzheimer’s Research UK, which are excited by improved scientific understanding of dementia that promise to increase clinical trial successes.
The fund, which is targeting €125m, will focus on early-stage start-ups across Europe operating in sectors such as cybersecurity, information superiority, robotics, AI, autonomous systems and space technology.
With peers facing substantial portfolio challenges, the $30bn endowment is urging restraint in what its leaders say is an environment for endowments akin to 2008’s financial crisis.
Leyla Holterud 'is the ideal leader to scale our European platform and the bridges we have been building between Europe and the rest of the world for well over a decade,' says Vintage co–managing partner Asaf Horesh.
The South Korea-based pension is seeking up to 10 venture capital fund managers to deploy 152bn won into domestically focused vehicles.
The $88bn pension system is 'exercising a degree of caution' in the US, according to head of global PE Lori Hall-Kimm.
Fund III was anchored by Cendana Capital and includes commitments from Intact Ventures, Atacama Ventures, NVNG Investment Advisors and strategic investor Schreiber Foods.
The transactional nature of semi-liquid fund structures can place a lower importance on relationship building between investors and their managers, says Nicole Musicco.
The pension plan reduced its combined buyouts and venture capital target to 19 percent from 20 percent, citing long-term liquidity goals and 'negative cashflows.'