Schroders Finds 60% of Investors Wary of Passive Concentration; LACERS Commits $50M to Kayne Anderson

Schroders Finds 60% of Investors Wary of Passive Concentration

Traditional public-private equity distinctions are breaking down, according to Schroders' 2026 Global Investor Insights Survey, with half of the more than 1,000 professional investors surveyed across 24 countries now applying a combined public-private framework rather than separate allocation buckets. Investors see a bigger risk elsewhere: 60% identified passive, index-tracking strategies as carrying the greatest risk of concentrated exposure to a narrow set of large-cap stocks.

Among US allocators, Marin County Employees' Retirement Association's investment committee unanimously selected three managers for its $100M private credit allocation, splitting $30M each to the TPG Twin Brook Direct Lending Evergreen Fund and Neuberger Berman Eagle Fund and $40M to the Ares Pathfinder Core Fund. Elsewhere, Los Angeles City Employees' Retirement System committed $50M to Kayne Anderson Real Estate Partners VII; and Mendocino County Employees Retirement Association renewed its consulting agreement with Callan following an RFP.

On the GP fundraising side, Positive Sum, the venture firm led by Patrick O'Shaughnessy, is targeting $400M for Positive Sum Capital IV, matching the target of its 2024-vintage predecessor; and Soma Capital is targeting $40M for Soma Capital Opportunity Fund VIII, following a $30M close for Fund VII in June.

In people news, Funds SA named Tassie Brakenridge, formerly of BlackRock, as director, equities, in a newly re-established role; and CareSuper appointed Jessica Melville from AustralianSuper and Andrew Thomas from Rest Super as general managers of portfolio management and portfolio design, respectively.