Fred Pollock doesn’t mind being called boring. In this environment, boring has become beautiful for private equity firms.

The Chicago-based Pollock isn’t boring at all, of course. As the head of strategic investments at US alternatives manager GCM Grosvenor, and a member of the firm’s global investment committee, Pollock helps oversee a portfolio with $US73 billion ($108 billion) of funds under management. This includes the ASX-listed Pengana Private Equity Trust, which Grosvenor manages.