NAIC's performance survey, Recognizing The Results, compared the audited financial returns of NAIC Firms against the broader private equity market using four (4) industry benchmarks for the period 1998 - 2011. KPMG was engaged to collect and compile the performance data which was then analyzed by a working group of fund of funds investors.
This study was designed to gain a thorough understanding of how an Emerging Manager Program (“EMP”) can work best and identify the ways that stakeholders can cultivate that success. We began by contacting 22 pension funds to invite their Board members and/or Investment Staff to collaborate with us on this project by allowing themselves to be interviewed about their EMP experiences.
This white paper provides an overview of best practices from some of the nation’s leading pension funds that have pioneered private equity investment with emerging managers. It analyzes and compares a few of the more successful emerging manager programs in order to identify those factors that appear critical to their success.