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Last year, APFC’s staff decreased its private asset allocation from 19 percent to 15 percent, hypothesizing that there were better risk-adjusted returns to be had in asset classes like fixed income and hedge funds. This strategy has also given Frampton’s team the flexibility to get into some incredibly competitive investment funds.
Ian Bickis of The Canadian Press reports CPP Investments earned 8 per cent in latest fiscal year, net assets rose to $632 billion: Canada's biggest pensionfund earned an eight per cent return last year, but significantly underperformed the 19.9 Management fees decreased by $10 million, remaining broadly in line with the prior year.
“The renewable energy, telecommunications and transportation sectors, to which (the Caisse) has been exposed for many years, are significant vectors of performance,” the pensionfund said. The difference with 2022 is primarily explained by the increase in external performancefees related to increased returns.
In private credit, tightening credit conditions resulting from a handful of bank failures and rescues in the United States have opened up opportunities for non-bank players like pensionfunds, he said. Management fees increased by $165 million, due to an increase in average assets managed by external fund managers.
Just background, Barry, when I moved here five years ago this year in 2018, we had barely no relationships in North America. We launched our very first growth private equity strategy in 2017-2018, way before it has, as I said, become a must-have strategy for many managers and for many allocators.
billion was 7% higher year over year, driven by the impact of higher markets on average AUM and higher performancefees. Fourth quarter and full year performancefees of 311 million and 554 million, respectively, increased from a year ago, reflecting higher revenue from liquid alternatives and long-only mandates.
Look, our parents all had pensionfunds. LAYTON: — sources of funds for our industry is going to change as a result of that. It’s been primarily pension, historically. And there’s a real democratization of access to private markets, and we’re one of the firm’s that’s been leading that.
We began raising capital in 2018, supported by an anchor commitment from an important limited partner. Today, with $55 billion in outstanding investment performance, BIP has exceeded our initial and predictably very high expectations. If you work at a state pensionfund today, you also are getting that same benefit.
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