Pension funds record overallocation to private equity in Q1 2025
Global pension funds in aggregate were above their median target allocation to private equity in the first quarter of 2025, according to S&P Global Market Intelligence data. The median target allocation across 298 pension funds was $306.8 million, and the median actual allocation was $330.3 million, resulting in a $23.5 million overallocation. Allocation takes on greater significance if public markets enter a sustained decline, resulting in an overallocation to private markets due to the denominator effect. The imbalance can restrict a...