NEPC Partner and Chief Investment Officer Sarah Samuels shared her insights with PitchBook at the 2026 Greenwich Economic Forum on how longer private equity fund lifespans are affecting institutional investors. Samuels discusses how NEPC has adjusted its pacing models to account for longer holding periods and why staying committed to high-conviction managers remains important. Read the full article for more.
Liquidity, valuations and private credit were key themes at the Greenwich Economic Forum, an annual gathering of alternative investors that took place in Greenwich, CT., from 5-7 October.
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Late last year, NEPC adjusted its pacing model to reflect this longer hold period. The firm extended its fund life assumption for VC vehicles to 17 years. Other assumptions include 15 years for buyout, 16 years for fund-of-funds and eight years for private debt.
Without these adjustments, actual fund lives and net asset values extend beyond the model’s assumptions and reduce LPs’ capacity to commit to future funds, said Sarah Samuels, the investment consultant’s chief investment officer.
“Don’t try to time vintage years, and don’t skip funds. If you do need to pull back, pull back in check size. Don’t skip a high-conviction GP,” she said.
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