Matt Levin

The $23bn pension has left its young private equity program unchanged while bumping its real estate allocation from two percent to eight percent.

The San Francisco private equity firm has purchased a majority interest in the Italian restaurant chain from casual dining operator Brinker International. Brinker will retain a 19.9% stake in the chain, which it had been shopping for nearly a year.

The $234.2bn pension is mulling a possible change to its private equity allocation, as the twin forces of sinking assets under management and shrinking distributions have combined for an overweighted alternatives exposure.

The $2.7bn Fresno County Employees’ Retirement Association has increased its exposure to private equity and real estate while launching a new ‘real asset’ allocation, which includes infrastructure.

The $2.7bn Fresno County Employees’ Retirement Association has increased its exposure to real estate and private equity while launching a new ‘real asset’ allocation, which includes infrastructure.

The $16.1bn pension is also set to commit $75m to Falcon Investment Advisors, a middle market focused mezzanine firm.

The publicly listed investment firm also disclosed in its second quarter earnings call that it is nearing its $2.5bn target on a private equity-style credit fund – yet its fundraising pace has dropped more than 70 percent compared to the same period last year.

The Oregon Investment Council has also retained its target allocation to private equity at 16 percent.

The second largest US pension suffered a 3.7 percent decline in its overall investment portfolio, its first negative return in six years.

The second largest US pension suffered a 3.7 percent decline in its overall investment portfolio, its first negative return in six years. It follows last week's 2.4 percent loss on investments at CalPERS, despite strong returns for private equity and real estate.