Gregg Gethard

“Nothing the managers said today gave me any confidence that we’re going to get distributions to the level of NAV they’ve marked on their portfolios,” says Marin County board president Sara Klein.

LP stands for 'Limited Patience' as overworked, overextended and stressed-out professionals cut ties and create a brain drain.

The system’s investment staff may expand target ranges, among other tweaks, as its cashflow needs change.

Limited partners in venture capital, buyout and other private funds may be at risk of having their names disclosed if proposed changes to federal pre-merger filing requirements are approved, attorneys said.

While many large investors have soured on private equity due to allocation problems and a shortage of distributions, at least three giant pensions are looking to put more to work.

The pension system could pump more money into venture and buyout funds if it approves a recommendation to hike its target to private equity from 6 percent to 10 percent.

The nation's largest pension fund wants to grow VC from about 1.4 percent to 10 percent of its private equity portfolio.

Concerns over the manager's performance and its failed investment in FTX have made for a rockier road drawing in LP commitments.

Coral Gables Retirement System, which manages about $433 million, set a target to PE of between 3 percent and 5 percent.

Dana Johns previously served as a senior portfolio manager on Maryland’s private equity team.