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Internal Rate of Return and Multiple on Invested Capital serve different purposes in private equity evaluation. Institutional investors must understand both metrics to assess true manager performance and allocate capital effectively.
Institutional investors evaluate private equity performance through three core metrics: DPI measures cash distributions, RVPI captures unrealized value, and TVPI combines both. Understanding these multiples is essential for CIOs allocating to private markets and assessing manager quality.
Collateralized loan obligations remain a core private markets tool for yield-seeking institutional investors. This guide covers structure, recent issuance trends, credit quality indicators, and governance considerations for CIOs evaluating CLO allocation.
TIAA is the roughly $1.5 trillion retirement provider built for US academia, healthcare and the non-profit sector, distinctive for putting guaranteed lifetime income at the centre of retirement saving.
Singapore manages an estimated S$2.5 trillion in reserves through three distinct institutions — GIC, Temasek and MAS. A guide to how the city-state's investment machine fits together.
Samruk-Kazyna is Kazakhstan's roughly $88bn national wealth fund — a state holding company that owns the country's strategic companies rather than a globally diversified portfolio. A guide to how it works.
Mumtalakat is Bahrain's roughly $18bn sovereign wealth fund, built to diversify the kingdom away from oil and gas. A guide to its strategic holdings, global portfolio and mandate.
Local Pensions Partnership is a UK Local Government Pension Scheme pool formed by Lancashire and the London Pensions Fund Authority. A guide to how it works and how the UK's megafund agenda is reshaping it.
Direct lending and broadly syndicated loans serve different portfolio roles. Direct lenders control terms and covenants; syndicated loan investors trade customization for market liquidity and diversification.
Major pension funds are shifting toward de-risking strategies to lock in asset gains and match pension liabilities. This article examines liability-driven investment, hedging techniques, and the institutional pathways to full funding status.
The Department of Labor's prudence and loyalty rule forms the backbone of ERISA fiduciary law, mandating that pension fund trustees prioritize participant interests above all else. Understanding these standards is essential for institutional allocators managing retirement capital.
Open-ended and closed-ended fund structures serve different institutional capital deployment strategies. Understanding their mechanics is essential for asset owners structuring private markets allocations.
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