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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. For example, under Willoughby’s leadership, APFC put $500 million to work in Dyal’s first GP stakesfund.
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.
In addition to insurance clients, pensionfunds and other LPs see the value we're creating in private credit, and there's been a strong response to our product offerings. What needs to happen here for returns to recover and accrued performancefees to build into what I think are big crystallizations anticipated for next year?
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. So we kind of had headwinds and tailwinds in the portfolio, which is the point of diversification,” Graham said. per cent return.
And whilst we were dealing with the same counterparty, the same pensionfund, some of their constituents, some of the underlying boards, disagree on the approach to take there. And so at times it’s effectively when the essential is at stake that people can react constructively.
Blackstone had taken a small 6% stake in resolution in 2023, alongside other limited partners in connection with becoming the company's asset manager for private and structured credit. Investor affinity for Blackstone is as high today as ever, and it all ties back to investment performance. And our GP Stakes business appreciated 4.1%
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