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.
'The valuation environment is generally more rational now, even at the earliest stages, so it will be hard to justify a larger or even flat fund size, in most cases,' one LP tells Venture Capital Journal.
The deal is related to newer early-stage venture funds backed by individual Tiger Global partners, who reportedly committed to funds from Better Tomorrow Ventures, Chapter One Ventures, Maple VC and Moxxie Ventures, among others.
Coller Capital’s biannual survey of global LPs reveals low expectations for the venture industry this year.
'We brought in a lot of strategic people high up in their industries, and there’s actually quite a few VCs invested in our fund as well,' Peakview founder Erik Lasilla tells Venture Capital Journal.
Concerns over the manager's performance and its failed investment in FTX have made for a rockier road drawing in LP commitments.
The market for sub-$100m LP stakes is underserved by intermediaries, says Tap chief executive Jeff Leathers
LP turnover has long been a challenge for many institutions, especially on the public side, as the loss of a veteran leader can disrupt the knowledge and plans of the portfolio built under his or her tenure.