private equity, Los Angeles Fire & Police Pensions, pension fund

LACERS moves closer to greenlighting secondary PE sales

Los Angeles City Employees’ Retirement System moved a step closer to its first-ever secondary sales, introducing a new policy at its January investment committee meeting that would enable such sales. Secondary sales could help the $17 billion retirement system consolidate and streamline the PE portfolio after a year in which it hired a new private equity […]

Chicago Teachers’ Pension Fund, private equity, pension fund, diversity
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Chicago Teachers wants to boost exposure to minority and women-owned PE

Chicago Teachers’ Pension Fund has launched two new searches for minority-owned and women-owned investment firms, looking to allocate $40 million to private equity managers and $25 million to infrastructure. The $10.8 billion pension fund has a 5 percent target to PE, with an actual allocation of 2.8 percent as of July 2018. The pension fund […]

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Vista Perennial fund nets $500 mln commitment from NYS

New York State Common Retirement Fund committed $500 million to Vista Equity Partners’ long-duration fund, according to its latest investment disclosure report. The $207 billion pension reported the commitment as taking place in November, in its monthly disclosure of financial transactions. Earlier in 2018, the pension fund also committed $750 million to Vista Equity Partners Fund […]

Santa Barbara County, private equity, Thoma Bravo
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Santa Barbara Co. committed $62.3 mln to PE in ’18, added Thoma Bravo

The $3 billion Santa Barbara County Employees Retirement System committed $62.3 million to private equity in 2018, adding Thoma Bravo to its roster of general partners in the asset class. The system made seven commitments last year, a report produced for its December meeting shows. All the commitments went to existing relationships, except for Thoma […]

Teacher Retirement System of Texas, pension fund, private equity
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Texas TRS commits more to KKR, Apollo

Teacher Retirement System of Texas committed nearly $1.9 billion to private markets in December, including additional allocations for KKR and Apollo, which run large separate accounts for the pension. For the month, Texas TRS committed $985 million to real-assets strategies, $425 million to energy, natural resources and infrastructure strategies, and $412 million to PE. In […]

Calpers, private equity, pension fund, Elisabeth Bourqui
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CalPERS senior executive seen as ‘instrumental’ to PE strategy resigns

California Public Employees’ Retirement System’s chief operating investment officer, Elisabeth Bourqui, resigned Monday, after less than a year on the job, a CalPERS spokeswoman confirmed. Bourqui, who had previously been head of pension assets and liabilities management at the Swedish-Swiss company ABB Group, began working for CalPERS in May 2018. At the time, her hiring […]

Los Angeles City Employees’ Retirement System, private equity, venture capital, pension fund

LACERS acts on $185 mln in recommendations by former PE consultant

Los Angeles City Employees’ Retirement System at its December meeting reported $185 million in private equity commitments, completing recommendations made by its former PE consultant and bringing total 2018 commitments to $500 million. The $17 billion system hired TorreyCove Capital Partners as its PE consultant over the summer, replacing Portfolio Advisors. The system also adopted a 2019 strategic plan aimed […]

LACERS, Los Angeles City Employees’ Retirement System, venture capital, private equity, pension fund
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LACERS acts on $185 mln in recommendations by former PE consultant

Los Angeles City Employees’ Retirement System at its December meeting reported $185 million in private equity commitments, completing recommendations made by its former PE consultant and bringing total 2018 commitments to $500 million. The $17 billion system hired TorreyCove Capital Partners as its PE consultant over the summer, replacing Portfolio Advisors. The system also adopted a 2019 strategic plan aimed […]

San Diego County Employees’ Retirement Association, private equity, limited partner, pension fund
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San Diego has tough time reducing PE fees in strong fundraising market

San Diego County Employees Retirement Association is looking for ways to bargain down its private equity management fees, saying it hasn’t had as much success in that area as it has had with other asset classes. Over the past three years the $12.5 billion retirement system has shifted away from fixed fees and toward incentives […]

State of Michigan Investment Board, pension fund, private equity, venture capital

Michigan pension system aims to lift PE exposure in ’19

State of Michigan Investment Board at its December meeting reported $435 million in third-quarter PE commitments, aiming to increase its exposure to the asset class in 2019. The board, which manages $73.1 billion in assets in four state retirement plans, set an 18 percent target allocation to private equity for 2019. It just about reached […]

State of Michigan Investment Board, pension fund, private equity, venture capital
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Michigan pension system aims to lift PE exposure in ’19

State of Michigan Investment Board at its December meeting reported $435 million in third-quarter PE commitments, aiming to increase its exposure to the asset class in 2019. The board, which manages $73.1 billion in assets in four state retirement plans, set an 18 percent target allocation to private equity for 2019. It just about reached […]

Employees Retirement System of Texas, pension fund, private equity, NEPC, CBRE
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Texas ERS breaks infra away from PE consultant

Employees Retirement System of Texas at its December meeting chose two new consultants, breaking the infrastructure asset class away from its PE consultant and changing its general investment consultant. The $27.7 billion system chose CBRE as its new infrastructure consultant and NEPC as its general investment consultant, awarding six-year contracts to both. Pavilion, which has […]

CalPERS, pension fund, private equity
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CalPERS interviews PE professionals to lead direct investment funds

California Public Employees Retirement System is interviewing teams of private equity professionals who could lead two new investment vehicles that are part of the pension fund’s planned PE restructuring. The $337 billion pension fund is hoping to move quickly on its PE business plan. Investment committee Chair Henry Jones said he expects the plan — which […]

San Bernardino County Employees’ Retirement Association, pension fund, private equity, Aberdeen Standard Investments

San Bernardino pledges $40 mln to Aberdeen secondaries fund, clears pacing plan

San Bernardino County Employees’ Retirement Association’s investment committee committed $40 million to a PE secondaries fund managed by Aberdeen Standard Investments, while also approving a pacing plan that would commit another $500 million to the asset class in 2019. The $10.4 billion retirement plan has a target allocation of 16 percent to private equity with […]

NYS Common Retirement Fund, pension fund, private equity
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NYS Common committed $1.12 bln to PE in October

New York State Common Retirement Fund committed $1.12 billion to private equity in October, its latest investment disclosure report shows. The $207 billion retirement system, managed by State Comptroller Thomas DiNapoli, committed additional capital to several existing relationships, including an Asia-focused co-investment vehicle. The state’s commitments include: $325 million to Hellman & Friedman IX, a […]

NEPC, private equity, venture capital
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Endowments eye special situations, growth equity for 2019

Endowments and foundations are optimistic about private markets going into 2019 and they view special-situations and growth-equity strategies as offering the most medium-term upside, a recent survey by NEPC shows. Endowments and foundations remain fairly bullish on private equity, although expectations seem to have tempered a bit: 51 percent of respondents said PE would outperform other […]

NEPC, private equity, venture capital
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Endowments eye special situations, growth equity for 2019

Endowments and foundations are optimistic about private markets going into 2019 and they view special-situations and growth-equity strategies as offering the most medium-term upside, a recent survey by NEPC shows. Endowments and foundations remain fairly bullish on private equity, although expectations seem to have tempered a bit: 51 percent of respondents said PE would outperform other […]

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Oregon nears upper limit of PE allocation

Oregon Investment Council committed $250 million to two private equity partners, adding to a portfolio that is already near the upper limits of its target allocation range. The state’s $73.6 billion Oregon Public Employees’ Retirement Fund has a 17.5 percent target for PE, with a range of 13.5 percent to 21.5 percent. As of October, […]