(Bloomberg) -- AustralianSuper, the country’s largest pension fund, plans to almost double its private equity assets over the next four years as deals pick...
-- AustralianSuper, the country’s largest pension fund , plans to almost double its private equity assets over the next four years as deals pick up following a lull spurred by higher borrowing costs.Chinese Cement Maker Halted After 99% Crash in 15 MinutesThe fund, which oversees A$330 billion of assets, is seeking to boost its private equity allocation to as much as 9% of its portfolio from 5% currently, Chief Investment Officer Mark Delaney said in an interview.
The value of private equity deals globally in the first quarter hit $232 billion, some 9% higher than a year earlier, according to data compiled by Bloomberg. That remains far from the peak touched in the second quarter of 2021, of more than $600 billion. Deals have struggled as sellers demanded valuations similar to those before interest rate hikes, Delaney said.AustralianSuper is ramping up private assets, along with much of the country’s A$3.
“US pension plans are more mature and they can’t put as much money in private equity,” said Delaney. “They can’t recycle capital as there’s no exits. That’s an opportunity.” This dividend stock is down 46% from all-time highs, providing a stellar 4.04% dividend as of writing, as the company rises higher in 2024. The post Down 46%, This Magnificent Dividend Stock Is a Screaming Buy appeared first on The Motley Fool Canada. -- A Chinese cement producer was in the spotlight after it suspended stock trading Wednesday, following a selloff that nearly wiped out all its market value in the final 15 minutes of the previous session.
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