Private equity stole the show at many healthcare systems’ investment offices last year, but the growing appetite for yield is not without its administrative challenges, according to Melanie Pickett, head of Front Office Solutions and Asset Servicing for Not-for-Profit Institutions and Public Entities at Northern Trust in Chicago.
“I think the biggest risk facing all these investors right now is mark-to-market,” she said. “With returns over the space and over that past year, that’s not real money until it gets distributed. It’s difficult and that means the mark-to-market risk . . .
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