Illinois Municipal Retirement System, Oaktree Capital Management, private equity, pension fund
520 Views

Illinois Municipal pulls pledge to Oaktree infra after changes, turnover

Illinois Municipal Retirement System pulled a $100 million commitment to Oaktree Capital Management’s Transportation Infrastructure Fund after changes in team and structure of the pool, the system said at its Aug. 23 meeting. Beginning in 2015 Oaktree had been marketing a pool called Transportation and Energy Infrastructure Fund, targeting $3 billion with a $4 billion […]

Pennsylvania State Employees’ Retirement System. private equity, pension fund, Gov. Tom Wolf
122 Views

PA PSERS to double PE co-investments, hire staff to cut fees

Pennsylvania Public School Employees’ Retirement System, at its Aug. 10 meeting, moved forward with a plan to reduce $2.4 billion in investment fees over 30 years. The long-term recommendations include doubling the private equity co-investment portfolio and hiring more investment professionals. The retirement system expects further discussion and review of the co-investment program at its […]

Alameda County Employees’ Retirement Association, private equity, pension fund, California
123 Views

Alameda County mulls new relationships as it builds PE exposure

Alameda County Employees’ Retirement Association is mulling two commitments to new PE relationships as it steadily builds exposure to the asset class. The $8.1 billion pension system is considering pledging $34 million to Audax Private Equity’s sixth fund, its first commitment to Audax, its investment-committee meeting agenda for Aug. 8 shows. Earlier this year, the […]

CalSTRS, private equity, pension fund, AlpInvest, Europe, Asia
334 Views

CalSTRS hires AlpInvest as co-investment adviser to expand program’s reach

California State Teachers’ Retirement System hired AlpInvest Partners as its co-investment adviser to reach the smaller end of the private equity spectrum and extend its global reach, said Seth Hall and Robert Ross, portfolio managers in PE at CalSTRS. Co-investments make up almost 7 percent of CalSTRS $18.2 billion PE program. With its no-fee, no-carry model, […]

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

CalSTRS revamps PE portfolio, eyes direct-investing strategies

California State Teachers’ Retirement System at its recent July board meeting presented a reorganization of its PE portfolio and added a new sub-asset class. The restructuring is meant to make room for opportunistic, long-term strategies, Margot Wirth, director of private equity for CalSTRS, said at the meeting. The PE portfolio will be divided into traditional and […]

Vista Equity Partners, Bullhorn Inc, private equity, merger, M&A
132 Views

Texas County & District bets on China-focused funds, venture

Texas County & District Retirement System has committed $357 million to seven private equity funds to date in 2018. Most of these are re-ups to existing managers. TCDRS’s $3.8 billion private equity portfolio generated the highest returns over the one and three-year periods as of March 31, 2018. It returned 19.8 percent over one year, […]

Teachers’ Retirement System of Louisiana, pension fund, private equity, venture capital

Louisiana Teachers’ commits $175 mln to Blackstone, TCV, TPG

Teachers’ Retirement System of Louisiana re-upped $175 million across three private equity funds, its July 12-13 meeting materials show. “This is in line with the fund’s direction of committing to the best available GPs,” said Maurice Coleman, deputy chief investment officer at TRSL. Hamilton Lane is the fund’s PE adviser. The pension fund’s alternative-assets and […]

Teachers’ Retirement System of Louisiana, pension fund, private equity, venture capital

Louisiana Teachers’ commits $175 mln to Blackstone, TCV, TPG

Teachers’ Retirement System of Louisiana re-upped $175 million across three private equity funds, its July 12-13 meeting materials show. “This is in line with the fund’s direction of committing to the best available GPs,” said Maurice Coleman, deputy chief investment officer at TRSL. Hamilton Lane is the fund’s PE adviser. The pension fund’s alternative-assets and […]

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

LA Fire and Police commits $66 mln to Platinum, Thoma Bravo, Reach Capital

Los Angeles Fire and Police Pensions committed $66 million across three private equity funds, including a reduced $18.5 million to Platinum Equity’s debut small-cap fund after the firm cut back the system’s desired allocation, pension documents showed. LAFPP originally wanted a $20 million commitment to the fund, which closed at its hard cap of $1.5 […]

Pantheon, Industrial Growth Partners, private equity, Brett Johnson
3424 Views

More pros are going to family offices. Should you make the jump?

Family offices are becoming a preferred destination for many investment professionals, with several pros making the move these past months. “There was a time all investment guys wanted to go to hedge funds; now they want family offices,” said Michael Castine of Ridgeway Partners, an executive search and consulting firm. Among those who have made […]

Harvard University, endowment, private equity, pension fund, Kathryn Taylor
754 Views

Outgoing Harvard overseer raises concerns over ‘opaque’ investment funds

Kathryn Taylor, in her resignation letter from Harvard University’s board of overseers, claimed the university’s $37 billion endowment had no idea what kind of impact its investments were having on the world because they were increasingly held in “opaque funds.” Taylor resigned a day before her retirement this month to protest the university’s failure to adopt ethical […]

Massachusetts Pension Reserves Investment Management Board, private equity, pension fund
117 Views

MassPRIM bets on Polaris Partners debut growth fund

Massachusetts Pension Reserves Investment Management Board committed $35 million to venture-capital firm Polaris Partners’ first growth equity fund, which is targeting $175 million. Polaris’s debut growth equity fund will target buyouts of lower-middle-market software and technology-enabled services companies in North America. MassPRIM does not generally invest in first-time funds, but the existing Polaris relationship adds a level […]

Silversmith Capital Partners, private equity
181 Views

MassPRIM bets on Polaris Partners debut growth fund

Massachusetts Pension Reserves Investment Management Board committed $35 million to venture-capital firm Polaris Partners’ first growth equity fund, which is targeting $175 million. Polaris’s debut growth equity fund will target buyouts of lower-middle-market software and technology-enabled services companies in North America. MassPRIM does not generally invest in first-time funds, but the existing Polaris relationship adds […]

American Investment Council, private equity
210 Views

PE generates highest returns for public-pension funds: study

Private equity was the top performing asset class for public-pension funds, returning 8.6 percent on 10-year median annualized returns in 2017. That’s the upshot of an American Investment Council study released May 24. The study examined the data of 163 U.S. public-pension funds from Sept. 30, 2016, to Nov. 30, 2017, with most dates as of […]

University of Louisiana Lafayette, private equity, pension fund, Cambridge Associates
134 Views

UL Lafayette Foundation outsources investments to Cambridge

University of Louisiana at Lafayette Foundation has turned over investment management of its $170 million portfolio to Cambridge Associates’ outsourced CIO group. “Managing a complex portfolio, generating high returns for their private market portfolios and access to good managers are some reasons midsized institutional investors are outsourcing their investment portfolios,” said Max Senter, chief investment officer with the group, […]

Illinois Teachers Retirement System, pension fund, private equity
193 Views

Illinois Municipal builds separate accounts with Goldman, HarbourVest

Illinois Municipal Retirement Fund partnered with Goldman Sachs and HarbourVest on fund-of-one accounts to expand its exposure to private equity. The pension fund committed $100 million to Goldman and $200 million to HarbourVest in evergreen separate accounts, according to a press release. It’s not clear what strategies each fund focuses on. Illinois Municipal has two existing separate accounts with […]

MassPRIM, Providence Equity, private equity
226 Views

MassPRIM bets on Providence Equity’s lower-mid-market fund

Massachusetts Pension Reserves Investment Management Board committed $75 million to Providence Strategic Growth’s third fund, which is targeting $1.25 billion for investments in lower-middle-market tech businesses. This is the pension fund’s first investment in Providence Strategic, an affiliate of the $57 billion asset manager Providence Equity. It has invested in five Providence Equity funds since […]

Boston New York VC MoneyTree
239 Views

MassPRIM builds co-invest bench, focuses mainly on re-ups

Massachusetts Pension Reserves Investment Management Board added Thompson Street Capital Partners, Polaris Partners and Providence Equity Partners to its co-investment manager bench for opportunities the staff manages in-house. The MassPRIM board approved the co-investment program in 2014 and instituted a co-investment bench of managers with which the system would work. MassPRIM staff will manage these […]