Private Equity Beat (WSJ) – Limited partners have begun to come out of their foxholes after laying low for much of 2009. But their own liquidity issues and concerns about capital overhang may keep the flow of new money to modest levels, according to various investors that spoke Thursday at the 2010 Super Return US conference in Boston.
“[We’re] cautiously back in the business of making new commitments,” said John Powers, president of Stanford Management Co, which oversees the private equity program of Stanford University Endowment. The endowment spent much of late 2008 and 2009 focused on improving the liquidity in its portfolio by raising capital in the bond markets and even flirting with a secondary sale that it ultimately pulled.
