Eneasz Kadziela, overseeing New York City’s pension system’s private equity investments, urges general partners (GPs) to prioritize exits to improve distributions. Despite recent underperformance, the pension system plans to invest $7-8 billion in private equity, emphasizing the importance of understanding exit strategies. Kadziela highlights the system’s shift towards co-investing with select GPs, which has proven effective, outperforming core funds by 500 basis points in net IRR. The pension system maintains a rigorous approach to new and existing manager commitments, aiming to build a portfolio of top performers while also supporting emerging managers, particularly diverse firms, to enhance overall returns.