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Investment consultant outlines three allocation options as private markets wind down
Summary
An external presenter laid out three long‑term allocation options for redeploying maturing private markets—ranging from a full shift into equities and bonds to mixes that include infrastructure or private debt—and stressed the need to balance liquidity and diversification as about 16% of the OPEB trust still sits in legacy private assets.
Patrick Wing, the meeting's investment presenter, told the St. Mary''s County OPEB trust committee that legacy private markets are winding down and offered three long‑term allocation options for the trust.
Wing said the trust's private real estate, private equity and private debt holdings now account for roughly 16% of the overall trust and that many private equity statements remain outstanding. "We had about $930,000 in net distributions coming back to the trust," Wing said, noting that returned capital improves liquidity as the legacy funds mature.
Why it matters: where the maturing private assets are invested will affect the…
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