US - CalPERS has earmarked $135 million for investment in a broad range of industries in Canada.
Birch Hill Equity Partners, LP, is raising a third fund targeting up to $850 million for investments in services, entertainment, media, communications, software, energy, healthcare, and manufacturing. Birch Hill was formed from a spinout of TD Capital, a subsidiary of Toronto-Dominion Bank.
Though the figures are not large, the commitment from CalPERS coincides with its pledge of $50m to Advent Latin American Private Equity Fund III, LP, which invests primarily in companies in Mexico, Brazil, and Argentina.
CalPERS plans to invest $3bn per year into private equity .
This week's edition of Professional Pensions is out now.
Nearly 60% of UK employers consider defined contribution (DC) master trusts to be the "most suitable" pension fund for their employees, according to research by Buck.
Companies which have tried to dodge their pension duties by changing their identities are being "hunted" by The Pensions Regulator (TPR) in a crackdown on non-compliance with auto-enrolment (AE).
Removing liquidity restrictions would enable DC funds to capitalise on the potentially higher and safer returns that DB schemes have benefitted from, says Patrick Marshall.