Author Archives: Victor De Pierrefeu

(Re)balancing Act

In a strategic move reflecting evolving market dynamics, the Pennsylvania Public School Employees’ Retirement System (PSERS) has judiciously pruned its private equity holdings, offloading even top-tier funds in the secondaries market to recalibrate its portfolio. This proactive rebalancing, far from signaling a retreat, underscores a sophisticated commitment to long-term allocation targets, as PSERS places forward-looking emphasis on the burgeoning opportunities within private credit and infrastructure.

Hire Multiple

A recent survey by GP-Score revealed that LPs overwhelmingly regard operational value creation as a critical factor in manager selection. The message is clear: they want granular evidence not marketing fluff. One of the keys to securing sustainable value creation is having a clear talent strategy in place…doing so can place GPs in a (human) league of their own as they seek out extraordinary returns for their investors.

Blackstone’s Paris Ambition

Chocs away! It’s an old expression and one that signals the start of a new journey, which is what Blackstone will be hoping for as they bid to buy the CityQuartier Trocadéro building in Paris. Over a century old and set in a prime location in the city’s 16th arrondissement near the Arc de Triomphe, the trophy asset comes with a price tag of EUR800 million.

Yield Over Yachts

Single family offices are laying down the foundations to increase their exposure to private credit while also add new exposure to infrastructure, as they look to diversify beyond private equity. According to the BlackRock Global Family Office Report 2025, 32% of family offices surveyed are favouring private credit, while 32% said they plan on either increasing or adding new exposure to infrastructure as sectoral trends, such as building data centres in response to the AI boom, continue to gain traction.

Toodle PIP

Steered with grace. And expertise. Pantheon International (PIP) partner Helen Steers MBE, is set to retire at the end of 2025. The news was announced by the board of PIP, which Helen co-leads alongside Charlotte Morris. Charlotte is a partner in Pantheon’s global secondaries team and a member of the firm’s secondaries investment committee.