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 Funds & Secondaries |
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| The Funds & Secondaries group is responsible for identifying the best performing private equity managers around the world and committing capital to them. While we are intent on developing our skills as a principal investor, the large amounts of capital that we have to deploy will continue to require us to partner with top-tier external managers. We also continue to be an active participant as a buyer in the secondary market. The secondary market is a relatively narrow segment in which institutions sell limited partnership interests to one another on a privately negotiated basis. Since 2001, we have invested approximately $1 billion in this market. (Since inception, our internal rate of return (IRR) on these investments has been approximately 34.6 per cent.) |
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