Single-family office Green Bear Group is reducing its private equity exposure to improve portfolio efficiency and cost-effectiveness. The firm, established in 2006 for a semiconductor industry entrepreneur, is moving away from commingled private market funds and co-investments.

Chief investment officer Vishnu Amble explained that Green Bear is increasing its allocation to liquid assets. This strategic shift is driven by the perception that separately managed accounts (SMAs), which offer a 'full-service' approach, present greater cost-efficiency benefits, especially in the current environment of declining private equity returns.

The firm aims to optimize its holdings by decreasing its concentration in illiquid private equity investments. This move signifies a broader trend of family offices re-evaluating their asset allocations in response to evolving market conditions and seeking more streamlined investment solutions.