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Verdad - The Rise of Alternatives (In US Public Pension Funds)

VegomaticVegomatic
in Other Investing
https://mailchi.mp/verdadcap/the-rise-of-alternatives-k5spt8qr6t
"US public pensions have made a dramatic change to their asset allocations over the past decade. Allocators at these pension funds took investments in alternatives—private equity, real estate, and hedge funds—from 14% of their risky investments in 2001 to 39% by 2021."

"A group of Stanford and Harvard academics is out with a fascinating paper making the case that this shift was not the result of shifts in realized performance, liquidity needs, or macroeconomic fundamentals. Rather, argue Stanford’s Juliane Begenau and Pauline Lang and Harvard’s Emil Siriwardane, the driver was a change in the beliefs of the pension funds’ investment consultants."
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