VCJ Venture Performance Los Angeles
220 Views

CalPERS commits ~$1.5 bln to PE in August and September

California Public Employees’ Retirement System in August and September committed about $1.5 billion to five private equity funds, including $650 million to Hellman & Friedman’s latest fund, documents show. The $350 billion pension fund has grappled with a range of new approaches to private equity to meet an allocation target of 10 percent, but it continues to […]

CalPERS, pension fund, private equity
152 Views

CalPERS plays down ambitious plan to become direct PE investor

California Public Employees’ Retirement System clarified goals for a revamp of its private equity investing, saying its proposed “direct” investment vehicles will work exactly like a “tried and true” separately managed account. CalPERS has been grappling with how to keep its PE allocation near its 10 percent target, which would require a commitment pace of $10 billion a […]

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

San Diego city pension aims to commit $125 mln in fiscal 2019

The $8 billion San Diego City Employees’ Retirement System expects to commit $125 million to private equity and infrastructure funds through a StepStone-managed account, triple the $39 million StepStone allocated in the past year. SDCERS commits to PE and infrastructure through two accounts, one managed by StepStone and one by GCM Grosvenor. Each manager is responsible […]

CalSTRS, pension fund, private equity, Margot Wirth
308 Views

CalSTRS pushes for more diversity in its investment portfolio

California State Teachers’ Retirement System wants to see diversity throughout an investment firm, not just among ownership, according to its CIO. CalSTRS prides itself on its pursuit of diversity, but its old policies need to be updated to account for broadening definitions that now commonly include groups like Pacific Islanders and sexual orientation groups, CIO […]

CalPERS, pension fund, private equity
281 Views

CalPERS needs to commit $10 bln annually to meet PE targets

California Public Employees’ Retirement System would have to commit $10 billion annually to private equity if it wants to meet its allocation target, a pace that the pension fund will struggle to meet, according to its consultant. CalPERS is not far off its current 8 percent target to private equity, but it will begin to […]

156 Views

Private credit is a new front in alternatives turf war: survey

In their escalating competition for investor cash, private equity and hedge fund managers are converging on similar strategies, like private credit, according to a recent survey. Investors, as a whole, prefer private equity to hedge funds, but the demand for diversification and customized strategies has opened up new ground for competition, according to Ernst & […]

NYS Teachers' Retirement System, private equity, pension fund

NYS Teachers’ pledged $700 mln to PE, VC in Q3

New York State Teachers’ Retirement System committed $700 million to four private equity funds in the third quarter. The retirement system, which manages $115 billion in assets, made its largest commitment of the quarter to Hellman & Friedman, committing up to $300 million to its Capital Partners IX fund. The Hellman & Friedman fund, which […]

NYS Teachers' Retirement System, private equity, pension fund

NYS Teachers’ pledged $700 mln to PE in Q3

New York State Teachers’ Retirement System committed $700 million to four private equity funds in the third quarter. The retirement system, which manages $115 billion in assets, made its largest commitment of the quarter to Hellman & Friedman, committing up to $300 million to its Capital Partners IX fund. The Hellman & Friedman fund, which […]

Lacers, Los Angeles, private equity, pension fund
148 Views

With new consultant in place, LACERS aims to reshape PE portfolio

Los Angeles City Employees Retirement System approved a 2019 strategic plan recommended by its new consultant, aiming to significantly speed up pacing, rethink limits on commitment sizes and consider secondary sales as it reshapes its portfolio.   The $17 billion retirement system over the summer hired TorreyCove Capital Partners as its PE consultant, after selecting NEPC as its […]

private equity, mergers, M&A, Ares Capital, business development companies, Congress, legislation, leverage, New York City Pensions, pension fund
170 Views

NYC pensions committed $2.5 bln to PE in fiscal 2018

New York City Pension Funds committed $2.5 billion to 12 private equity funds in fiscal 2018 ended in June, according to the city comptroller’s annual financial report. The comptroller’s office manages investments for the five city pension funds through the Bureau of Asset Management, with total pension-fund assets of $200 billion. The pension funds have a […]

Florida State Board of Administration, private equity, venture capital, pension fund
157 Views

Florida SBA in Q3 committed $925 mln to private markets

Florida State Board of Administration in the third quarter committed $925 million to private-markets strategies, selecting two buyout funds, one secondary strategy, two debt funds and a commodities fund. In buyouts, Florida SBA committed $250 million to Hellman & Friedman Fund IX, which closed on $16 billion this month, and $150 million to Thoma Bravo Fund […]

Orange County, California, pension fund, private equity, venture capital, pension fund, OCERS
149 Views

Orange County boosts PE allocation, targets buyouts

Orange County Employees Retirement System voted to lift its private equity allocation to 10 percent from 8 percent, planning to build a portfolio that focuses more on buyouts than its current exposure. The $15.8 billion retirement fund is strongly positioned to trade liquidity for higher expected return, although it is probably some ways off before it […]

New Jersey Division of Investment, JLL Partners, KSL Capital Partners, private equity, venture capital, pension fund
262 Views

KSL takes flight with $100 mln commitment from NJ; JLL gets $200 mln

New Jersey Division of Investment committed up to $300 million to two private-markets strategies, investing in small and middle-market buyouts as well as travel-and-leisure businesses. The state, which has $79.43 billion in combined pension assets, also reported that it was somewhat behind its private-markets pacing targets for the year, although a spokesman said that it still […]

Connecticut Retirement Plans and Trust Funds, private equity, venture capital, pension fund
219 Views

Connecticut plans $50 mln commitment to support local, diverse and emerging PE firms

Connecticut State Treasurer Denise Nappier is considering a $50 million allocation to Connecticut Private Equity Horizons Fund, which focuses on small and mid-market funds that are managed by women-owned, minority-owned, emerging or Connecticut-based investment firms. Nappier presented the investment opportunity at the Oct. 24 meeting of the $30 billion Connecticut Retirement Plans and Trust Funds’ investment advisory committee, […]

VCJ Fundraising
106 Views

VC funds celebrate most successful haul in six years

Buyout funds remain popular, but venture capital funds worldwide had their most successful quarter in six years, with 101 funds securing $18 billion, according to a new report from Preqin. More than half of investors surveyed plan to place capital in venture strategies in the coming year, Preqin reported. The number of private equity funds […]

Asia, China, private equity, venture capital, Preqin
132 Views

More funds sprout in Asia, but LPs still want North American PE

GPs are raising more and more Asia-focused funds, but LPs remained focused on pursuing North American private equity opportunities, according to recent research from Preqin. In its latest quarterly report on PE and venture capital, Preqin found that 44 percent of all funds in market are targeting Asia, including six of the 10 largest funds, […]

San Diego CERA. pension fund, private equity, Blackstone Group, New Mountain Capital, limited partner
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San Diego stressed by Blackstone’s New Mountain stake

Blackstone has acquired a 9 percent stake in private equity firm New Mountain Capital, and one LP says that the move speaks to an overheated market for private equity deals. San Diego County Employees’ Retirement Association has spoken recently about its hesitance to put more money into PE while valuations are high and limited partners are hungry […]

Ohio Public Employees Retirement System, pension fund, private equity,
135 Views

Ohio PERS lowers return expectation to 7.2 pct

The $101.4 billion Ohio Public Employees Retirement System has lowered its pension plan’s assumed rate of investment return to 7.2 percent from 7.5 percent, based on a more pessimistic near-term view of the capital markets. OPERS also reduced the assumed rate of return for its Health Care Fund, to 6 percent from 6.5 percent. The lower […]