Joe Marsh

The asset manager is also recruiting for an equivalent North America role as it looks to raise more capital from insurers.

The A$200bn Australian retirement fund has appointed an executive in London to lead valuations of direct infrastructure and property investments.

The accuracy and frequency of private equity asset pricing is becoming a bigger issue for investors.

There have been cases when continuation funds have been 'misused and overused,' according to Teia Merring, senior investment director at USS and chair of ILPA.

But it’s still a tough market for new GPs, given continued fierce competition for scarce investment capital.