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CalPERS Taps Carlyle For Biggest Pledge Of 2013

The $265 billion California Public Employees’ Retirement System, the largest pension in the United States, approved its biggest private equity commitment so far in 2013, pledging $547 million to The Carlyle Group’s newest flagship fund, Carlyle Partners VI LP, according to board meeting materials made public by CalPERS. A CalPERS spokesman declined to comment further.

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Ruling Against Sun Capital Could Have Wider Private Equity Impact

In a court case that could add a new risk factor to some deals, the First Circuit Court of Appeals last month ruled in favor of the New England Teamsters and Trucking Industry Pension Fund, which argued that two investment funds managed by Sun Capital Partners were liable for $4.5 million in pension liabilities for Scott Brass Inc., a Sun Capital portfolio company that want bankrupt in 2008, according to Buyouts, peHUB’s sister magazine.

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Oregon Taps Reservoir Capital For New $1.5B Energy Fund

The Oregon Investment Council, which manages $80 billion in state funds, has pledged $100 million to Reservoir Capital Group’s debut energy and resources fund, Reservoir Resource Partners LP, according to Buyouts, peHUB’s sister magazine. The fund plans to invest in energy, natural resources and power generation companies. The firm is seeking to raise $1.5 billion.

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Oregon Pledge Sets Stage For Close of KKR Flagship Fund

With a $250 million follow-up commitment from the Oregon Investment Council, Kohlberg Kravis Roberts & Co’s latest flagship fund is within reach of its $8 billion target, a fundraising goal the firm started pursuing nearly two and a half years ago, according to Buyouts, peHUB’s sister magazine…

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Oregon Tables Decision On Women-Run Fund; Concerns Raised

Solera Capital, one of the industry’s few women-led firms, has failed to immediately win a $50 million commitment from the Oregon Investment Council, which opted to table the prospective investment to Solera Capital Partners II LP pending further review, according to James Sinks, a council spokesman. According to Buyouts, peHUB’s sister magazine, the new fund has a $350 million target.

A full moon rises behind the Empire State Building and the Chrysler Building over the skyline of Manhattan in New York

Miller’s Move From NYC Pensions To Landmark Raises Questions

Barry Miller, who has been head of private equity for the New York City Retirement Systems, has decided to join Landmark Partners, a secondary firm to which the pension recently made a sizeable commitment. The timing of Miller’s move raises questions about whether the city, and pensions generally, should have stricter rules governing employees who wish to leave for money managers, according to Buyouts, peHUB’s sister magazine…

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Solamere Capital, Romneys’ PE Firm, Launches Fund II

Solamere Capital, the private equity fund-of-funds and co-investment firm co-founded by Mitt Romney’s eldest son, Taggart Romney, has begun raising its second vehicle, Solamere Capital Fund II LP, according to a government filing…

OregonCoast

Oregon Commits $950M To Three Funds

The Oregon Investment Council, which manages $81 billion in assets, committed $950 million to funds at three private equity firms, according to Buyouts, peHUB’s sister magazine. The firms receiving the commitments include Apollo Global Management, Lone Star Funds and The Blackstone Group, confirmed James Sinks, the council’s spokesman…

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Wyoming Earmarks $600M for PE, Snubs Cheyenne Capital

The Wyoming Loan and Investment Board plans to invest $600 million into three separate managed accounts over the next three to five years, with Hamilton Lane and Neuberger Berman each managing $200 million separate accounts. PE shop Cheyenne Capital, which currently manages a separate account for Wyoming, was said to not meet the state’s new requirements due to its size.

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Tennessee Pension’s Private Equity Chief To Step Down

The $37 billion Tennessee Consolidated Retirement System will soon be looking for a new director of private equity. The pension’s current director, Lamar Villere, told Buyouts, peHUB’s sister magazine, that he plans to step down from TCRS at the end of June to become a portfolio manager at Villere & Co., his family’s New Orleans-based money management firm…

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Harvard’s Private Equity Chief Resigns

Peter Dolan, the director of private equity and venture capital for the Harvard Management Company, manager of the world’s biggest endowment, stepped down on April 10, according to Buyouts, peHUB’s sister magazine.

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U. Penn Taps Endowment Chief From Yale

The University of Pennsylvania tapped Peter Ammon, a colleague of legendary Yale University endowment chief David Swensen, as its next chief investment officer. Ammon, who is 36 years old, has been at Yale for eight years, according to Buyouts, peHUB’s sister magazine…

A full moon rises behind the Empire State Building and the Chrysler Building over the skyline of Manhattan in New York

New York City Makes Mammoth $1.1B In PE Commitments

The New York City Retirement Systems, the $127 billion group of municipal pensions overseen by the city comptroller’s office, made an impressive $1.1 billion in commitments to five private equity funds in the first quarter, according to Stephanie Hoo, a senior press officer. According to sister magazine, Buyouts, the funds are managed by The Carlyle Group, Platinum Equity…

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Former CalPERS Chief Executive Indicted For Fraud

The former chief executive of the $257 billion California Public Employees’ Retirement System was indicted by a federal grand jury for conspiring to defraud Apollo Global Management, a prominent private equity firm. In what was alleged to be a decisive moment in CalPERS’s long-running pay-to-play scandal, Federico Buenrostro, the pension’s former chief, was charged with…

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Washington State Paying 1 Percent Fee on KKR Flagship Fund

KKR & Co. LP (KKR.N) has agreed to charge the Washington State Investment Board a super-low 1 percent annual management fee on the pension fund’s $250 million follow-on commitment to the firm’s flagship fund, KKR North American Fund XI LP, a source tells Buyouts.

AppleTeacher

NYSTRS Names Insider As Its New PE Chief

The $91 billion New York State Teachers’ Retirement System named John Virtanen as its new head of private equity, according to a spokeswoman for NYSTRS. Virtanen replaces Dhvani Shah, who left in late 2011 to become chief investment officer at the $28 billion Illinois Municipal Retirement System…

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