Pensions
topic on 4 shows · 11 statements across 9 episodes
BigDeal 
Capital Allocators 
All-In 
20VC
11 statements about Pensions, every show
Pensions mistakenly incentivized hedge funds to lower volatility and gather assets
“The average hedge fund out there, down the fairway hedge fund, us dumb pensions did the wrong thing by incentivizing them to run lower vol and take in more assets and collect that management fee.”
Monk: Development funds must generate high returns to become industry role models
“Very few pensions are going to copy a development fund that is delivering two percent return. But if there's a development fund like a Tomasek that is out there driving really high performance, then all of a sudden they could become a role model that gets copi…”
Monk: Large funds need technologists and data infrastructure experts on boards
“Just as we're sort of achieving that, I'm going to turn around and go back to them and say, we need technologists, people who've built data infrastructure. We need the right skills on these boards. If you're going to make a hundred million dollar investment in…”
Monk: Allocators who only back Fund III overpay for managers
“If you only invest in fund three, you've decided you're going to overpay for managers because they don't need your money.”
Sanchez: US pensions face a $1.4T shortfall alongside record credit card debt
“We've got underfunded pensions to the tune of, like, 1.4 trillion dollars with a T. We've got auto loans rising in their default rate, which means people not about to pay them. I think that's also at risk. We've also got record high credit card debt, so nine h…”
Sacks: 80% of Chicago property taxes pay for pensions
“80% of the property taxes in Chicago are now going just to pay for pensions.”
Paul: Endowments and Pensions Were Net Sellers in 2008 Crisis
“The reality was in the financial crisis, endowments and pensions were net sellers, not net buyers.”
Adamson: GPs with $3B AUM still seek catalytic sovereign wealth backing
“First, we've noticed that slightly more mature GPs that might have two or three billion in AUM are still interested in this value proposition because if they can get a catalytic investment from their ideal client base, which is large pensions and sovereigns gl…”
Peters: Pensions will not be able to hit 7.5% return targets
“There's no way pensions are going to be able to even come close. They're not even to be able to pretend that they can anymore.”
Future generations will manage pensions individually rather than through states
“20 years ago, if you look at our parents or our parents' parents' generations, pensions were generally handled entirely by the state or by large employers. That won't be the case for this generation and certainly not for the next generation.”
Aging populations prevent pension funds from committing to VC lockups
“But with the pensions now seeing aging populations, they're generally not in a position to be doing the 10 to 12 to 14 year lockup, which a venture capital fund typically is. They can't commit to that level time frame of the liquidity.”