Private equity (PE) as an asset class has outperformed stocks, bonds, hedge funds and REITS over the last 10 years. Unfortunately, individual investors remain at a disadvantage to institutions when it comes to gaining exposure to PE investments, said David Carlson, head of solutions research at AMG Funds (AMG). Historically, retail investors may have had exposure to PE through a pension plan. Some of the biggest and best known public pension plans – CALPERS, CALSTRS, and New York State – have target PE allocations of 10 percent or greater. Similarly, large endowments such as Harvard, Stanford and Yale have invested in PE for decades, with current target allocations of 18 percent, 23 percent and 31 percent, respectively, according to AMG Funds. TheStreet’s Gregg Greenberg has details from New York
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