California Public Employees’ Retirement System, Ben Meng, Ted Eliopoulos, pension fund, private equity

CalPERS names Ben Meng CIO

California Public Employees’ Retirement System named Ben Meng chief investment officer, succeeding CIO Ted Eliopoulos. Meng, 48, has been deputy CIO at China’s State Administration of Foreign Exchange for three years. He previously worked a seven-year stint at CalPERS. In that earlier tenure, he served as investment director of asset allocation, and was previously a portfolio manager […]

CalSTRS to add new PE category, update benchmarks

California State Teachers’ Retirement System received approval to move forward with an investment policy that will add a sixth category to its private equity portfolio, while updating benchmarks across the asset class. CalSTRS’s investment committee discussed the changes at its Sept. 20 meeting and gave investment staff the go-ahead to continue developing the policy so […]

New York City Pension Funds, Bill deBlasio, Scott Stringer, pension fund, private equity, cleantech
109 Views

NYC pensions turn to private markets to boost cleantech portfolio

The $195 billion New York City Pension Funds is seeking investments focused on clean technology and climate change, saying private equity will play a key role in the city’s efforts to double its green-investment portfolio to $4 billion. Mayor Bill de Blasio, Comptroller Scott Stringer, and trustees of three of the five New York City pension […]

282 Views

LACERS tees up private credit search

The $17.2 billion Los Angeles City Employees’ Retirement System plans to begin a search for private credit managers soon, seeking to build out a new 7 percent allocation to the asset class. LACERS has several RFPs coming up after choosing a new asset allocation with consultant NEPC, CIO Rodney June said at the retirement system’s […]

San Diego City Employees Retirement System, private equity, limited partner, pension fund
103 Views

San Diego City pension lifts three-year PE pacing target

San Diego City Employees’ Retirement System plans to commit $550 million to private equity over the next three years through its separate account with GCM Grosvenor, nearly half again as much as last year’s target of $375 million. SDCERS’s board at its Sept. 14 meeting approved a PE-pacing plan for GCM Grosvenor, which manages half the system’s […]

Washington State Investment Board, private equity, pension fund
270 Views

Washington State commits $375 mln to private equity

Washington State Investment Board’s private-markets committee recommended allocating $375 million to two PE funds, a European megafund and a microcap buyout fund. The $129 billion system plans to commit up to $300 million to the pan-European KKR European Fund V, targeting €5 billion ($5.84 billion). Investors have the option to invest in U.S. dollars or euros. […]

LAFPP, venture capital, private equity, pension fund
149 Views

LA Fire and Police lowers benchmark for PE performance

Los Angeles Fire and Police Pensions adopted an investment policy that lowers its benchmark for private equity investments and eliminates investment staff’s ability to make PE investments without board approval. Rather than measuring performance against a benchmark of the S&P 500 plus 4 percent, the pension fund will measure PE against the S&P 500 plus 2.5 […]

Pennsylvania State Employees’ Retirement System, Vista Equity, Carlyle Group, private equity, pension fund
150 Views

PA SERS commits $175 mln to private equity

Pennsylvania State Employees’ Retirement System at its Sept. 12 meeting approved $175 million in three PE commitments. The retirement system committed up to $75 million to Vista Equity Partners Fund VII, which invests in enterprise-software companies and has a target size of more than $12 billion; $75 million to NGP Natural Resources XII, a $5.3 […]

San Francisco Employees’ Retirement System, pension fund, private equity, venture capital

SF pension adds $126 mln to PE; private-markets exec leaves

San Francisco Employees’ Retirement System in August and September made $126 million in private equity commitments, targeting growth and venture capital strategies. SFERS, which has $24.3 billion in assets, invested in three GGV funds, two Level Equity funds and one Polaris Partners fund, a report CIO William Coaker prepared for the system’s Sept. 12 meeting shows. […]

San Francisco Employees’ Retirement System, pension fund, private equity, venture capital
125 Views

SF pension adds $126 mln to PE; private-markets exec leaves

San Francisco Employees’ Retirement System in August and September made $126 million in private equity commitments, targeting growth and venture capital strategies. SFERS, which has $24.3 billion in assets, invested in three GGV funds, two Level Equity funds and one Polaris Partners fund, a report CIO William Coaker prepared for the system’s Sept. 12 meeting shows. […]

New York State Common Retirement Fund, Vicki Fuller, Williams Cos, pension fund, private equity, CIO,
201 Views

NYS Common plans sharp staffing rise

New York State Common Retirement Fund is researching professional search firms, gearing up for an “aggressive” increase in investment staff, including an effort to hire a permanent chief investment officer. The $207.4 billion retirement fund issued a request for information Aug. 24. While it isn’t looking to hire a search firm right away, and doesn’t […]

Employees Retirement System of Texas, private equity, pension fund
198 Views

Texas ERS approves $1 bln in 2019 PE pacing

Employees Retirement System of Texas approved its 2019 private equity tactical plan, earmarking $1 billion in planned commitments for the coming year and $5.6 billion in commitments over the next five years. The $27.5 billion system has a 13 percent target allocation to PE, and it reached a 13.3 percent allocation as of June 30, after committing […]

Aberdeen Asset Management, Scott Reed, private equity
592 Views

Five Questions with Scott Reed, co-head of PE USA at Aberdeen

Scott Reed is co-head of private equity USA at Aberdeen, based in the Boston office. He joined Aberdeen in 2015 from FLAG Capital Management. Reed spoke with Buyouts about his firm’s focus on smaller funds and lower-middle-market opportunities in PE. Many GPs are having success raising larger funds. Why are you interested in the smaller […]

238 Views

Virginia Retirement System commits $423 mln to private equity

The $78.6 billion Virginia Retirement System committed $423 million to private equity since its last board meeting, investing in middle-market US. buyouts, large European buyouts, a global growth fund and a levered debt fund. The retirement system’s investment advisory committee met on Aug. 28 and reviewed recent commitments, including those made after the June 7 board […]

Montana Board of Investments, private equity, pension fund, Dan Villa, David Ewer
331 Views

Montana commits $160 mln to PE, names new director

Montana Board of Investments at its recent meeting reviewed four private equity commitments totaling $160 million and named a new executive director. The board, which manages $11.3 billion in retirement-system assets, made four new commitments in the recent quarter, spokeswoman Dana Chapman confirmed. It allocated $40 million to Blue Sage Capital III fund, $40 million to […]

Louisiana State Employees’ Retirement System, private equity, pension fund
153 Views

Louisiana Employees’ commits $200 mln to private markets

Louisiana State Employees’ Retirement System at its August meeting committed $200 million across two private markets investments. The $11.5 billion pension committed $125 million to DoubleLine Mortgage Opportunities Fund and $75 million to GoldenTree Distressed Fund II. Both investments will be included in LASERS’s private-markets asset class, which has a 13.6 percent actual allocation and […]