Chris Witkowsky
The Teacher Retirement System of Texas invested about $2.4 billion in private equity in 2013, including $830 million in primary fund commitments and $95 million to emerging managers, according to a summary of the investment activity from the pension system.
Yanev Suissa, formerly affiliated with New Enterprise Associates and a onetime investment official in the U.S. government, has launched a new venture firm that will focus on connecting Silicon Valley to the public sector.
Southern Cross Renewable Energy Fund has led a $15 million Series B funding round in Sunverge Energy, a developer and manufacturer of distributed energy management systems. Southern Cross was joined by the venture capital unit of Siemens and Total Energy Ventures International.
Fortress Investment Group has hired Jeff Feig, Citigroup's global head of developed markets foreign exchange and a senior manager at Citi. Feig joins Fortress as a portfolio manager and co-CIO of the Fortress Macro Fund. He also will work as co-president of Fortress's Liquid Markets business.
Dorsey & Whitney has re-hired former private equity executive Guanxi Zheng as of counsel in the corporate group in the law firm's Seattle office. Zheng was an associate and partner in Dorsey's Hong Kong office from 2000 to 2006, focusing on corporate transactional work including M&A, joint ventures, tech licensing, corporate finance and structured acquisitions of non-performing loans. In 2006, Zheng became director, vice president and general counsel at DAC Financial Management in Hong Kong and Beijing, where he was responsible for due diligence, contract negotiations and portfolio management.
For the most sought-after private equity funds on the secondary market raised in the past few years, pricing has risen into premium levels, according to a new pricing study from secondaries intermediary Setter Capital.
Phoenix Venture Partners has led a $6 million Series A funding round in Imprint Energy, Inc., which develops thin, flexible, rechargeable batteries. Phoenix was joined in the funding by Flextronics Lab IX and AME Cloud Ventures.
Surgery Center Holdings, backed by H.I.G. Capital, has agreed to acquire Crestview Partners-backed Symbion Holdings Corporation for a total purchase price of $792 million. The deal is subject to closing conditions and regulatory approvals. The combination will create a portfolio of about 100 healthcare facilities.
Expert advice about how to become a private equity investor relations professional and how to advance in your career.
When it comes to co-investing, limited partners in Europe might want to get a bit more proactive in seeking out opportunities.