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Laxman Pai, Opalesque Asia:

Global pension funds fell slightly short of meeting their private equity allocation targets in the second quarter of 2023, said a study.

According to S&P Global Market Intelligence data, in the aggregate, 362 pension funds worldwide had a $6.4 million median net under-allocation to private equity as of June 19, compared to a $4 million under-allocation recorded March 28.

The median actual allocation to private equity was $264.1 million compared to the median target of $270.5 million as of June 19, said the S&P study.

California Public Employees' Retirement System (CalPERS) had the largest under-allocation and is $6.81 billion short of its $59.84 billion target. The fund has narrowed its net under-allocation from $11.34 billion in March.

CalPERS and California State Teachers' Retirement System have the largest private equity allocation at $53.03 billion and $47.74 billion, respectively, as of June 19.

Meanwhile, New York State Common Retirement Fund's private equity allocation was $11.56 billion above target as of June, the largest overallocation among pension funds.

The lowest actual allocation to private equity is $1 million, held by Burlington Employees' Retirement System, New Orleans Firefighters' Pension and Relief Fund, Maynard Contributory Retirement System, City of Delray Beach Employees Retirement System, Chattanooga General Pension Fund, and City of Franklin Employees' Pension Plan and Tru......................

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