Saturday, April 20, 2024

LP view: Key allocator takeaways from SALT 2023

Steven Meier, CIO at New York City Retirement System (NYCRS), a $250bn allocator across public and private assets via five different pension plans — and may increase its private asset exposure after recent governance changes.

  • Private credit tops agenda, while systematic hedge fund strats in vogue and cash “is back” as an asset class – key LP perspectives from big alts allocators.
  • Steven Meier of NYCRS, Joe Dowling of Blackstone, Paul Zummo of J.P. Morgan, Sona Menon of Cambridge Associates, Jens Foehrenbach of Man FRM and Alex Band of Partners Capital give their view.
  • Sign up to AFI’s free industry briefings here. Keep tabs on flows with our dedicated section.

A change to state law means New York City’s $250bn retirement funds have more scope to invest in private market strategies — and they may well take advantage, according to CIO Steven Meier.

He highlighted private equity, private credit, real estate and infrastructure as key strategies of interest which could see more allocations, subject to the outcome of a strategic asset allocation review currently underway.

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