State funds quicken co-investing, private markets push

Sovereign wealth funds have been building allocations to unlisted assets and shifting towards co-investing at a startling pace in the past few years, a new report shows. As public markets continue to shrink, government institutions are increasingly forming new types of partnerships with peers, private equity firms and corporates, and sharply raising their exposure to sectors like healthcare and technology. These are among the key findings from the latest annual review from the L…