Danish Pension PenSam Trimming US Alts Exposure; Harvard Returns 27.1%

Danish Pension PenSam Trimming US Alts

Harvard Returns 27.1%

Denmark’s PenSam is seeking a long-term strategic relationship with an international real estate manager, according to recent comments made by CIO Claus Jorgensen. The $28B Danish care-sector workers’ pension fund runs an $8.5B alternatives allocation and wants strategic partners across alternative asset classes rather than selecting managers deal by deal. Over the next five years the fund plans to raise European exposure by 15% to 25% and cut US exposure by the same amount, citing regulatory uncertainty around US renewable infrastructure.

Among other allocators, Los Angeles Fire and Police Pension System closed two private credit commitments in late September – up to $40M to Silver Point Credit Fund (U) III and up to $30M to Carlyle Credit Opportunities Fund IV; South Korea’s Financial Services Commission and Korea Development Bank named seven managers, for an ultra-long-term technology fund targeting $650M+ in 2026; and Harvard University’s endowment returned 27.1% in the fiscal year ended June 30, growing to $68B from $56.9B, with CEO N.P. Narvekar crediting venture capital, public equities, and hedge funds.

On the GP fundraising side, Sunstone Partners is raising an undisclosed amount for its fourth fund after its first three raised a combined $1.7B; TA Realty is closing in on $2B for its fourteenth value-add series, disclosing $1.79B in commitments from 65 investors, with Mississippi PERS, Teachers’ Retirement System of Louisiana, and others already committed; and Siguler Guff has raised $156M from 17 investors for its fourth fund targeting legal claims against Brazilian government bodies.

In people news, Dolomite Capital Advisors named Ramesh Parameswar head of business development from Blantyre Capital; Tower Peak Partners hired Eddie Nissen as managing partner and head of capital formation and investor relations for EMEA as it raises its debut €400M climate-focused fund; and Miami-based I Squared Capital opened a permanent office in Tokyo, adding Go Suzuki as principal alongside managing director Yuko Watanabe Shah.