At PEI Group's NEXUS 2026 summit, CalPERS CEO Marcie Frost emphasized the pension fund's patient approach to private equity investments, stating they're not rushing to sell assets to meet payroll obligations. Frost told investors they need better data access to monitor portfolio companies and manage risk effectively. She also noted CalPERS can react to negative headlines about general partners, making it harder to justify continued investments.

Josh Harris of 26North outlined his firm's adjacent investing strategy, targeting sectors like data centers and sports that benefit from broader industry growth without paying premium ecosystem valuations. Harris cited ArchKey, an electrical contracting business whose EBITDA doubled in two years through data center projects, as a prime example of this approach. The strategy allows investors to capture growth without direct exposure to overheated markets.

Otro Capital closed its first $1.2 billion fund, taking a broader approach to sports investing beyond professional teams. The firm targets the wider sports ecosystem including youth leagues, data analytics, and business services, aiming for seven to nine deals with half as control investments and half as minority stakes with governance rights. This diversified strategy reflects growing investor interest in sports-adjacent opportunities.