San Francisco Equity Partners, private equity, family office, consumer products
225 Views

SF Equity Partners transitions from independent sponsor, raises PE fund

San Francisco Equity Partners, transitioning from a family-backed independent sponsor to a private equity firm, is raising a fund targeting $125 million, according to a Form D. The firm, led by Scott Potter, began as a European family-backed independent sponsor in 2005, a source familiar with the firm said. Later, the firm began seeking additional […]

private equity, Connecticut Retirement Plans and Trust Funds, pension fund, Denise Nappier

Connecticut mulls $100 mln for VC funds and startups

Connecticut State Treasurer Denise Nappier is mulling a $100 million re-up to Constitution V Fund, which invests in venture capital funds. The fresh commitment would create two additional investment pools in the existing Constitution Fund V, according to documents from the treasurer’s office. The $150 million Constitution Fund V, split into two parts called Series […]

North Dakota State Investment Board, Corsair Capital, private equity, pension fund
175 Views

North Dakota sells Corsair fund stake as it pares portfolio

North Dakota State Investment Board sold a $25 million commitment in Corsair Capital’s fourth fund to Hamilton Lane, a source close to the pension system confirmed. North Dakota pension trust’s PE portfolio has underperformed mainly because of investments made before 2013, David Hunter, the pension system’s CIO, has told Buyouts. “Although the North Dakota State Investment Board […]

MIT, Massachusetts Institute of Technology, private equity, limited partner, endowment, technology, accelerator
159 Views

MIT’s endowment closes accelerator fund at $204.5 mln

The Engine Accelerator, Massachusetts Institute of Technology’s first fund for so-called tough tech, officially closed at $205.2 million, according to a recent report from the school’s treasurer for the year ended June 30, 2018. The Engine initially announced in September 2017 that it had raised $200 million for its first fund, according to a previous […]

Pennsylvania Public School Employees' Retirement System, Pennsylvania State Employees’ Retirement System. private equity, pension fund,
143 Views

Pennsylvania pensions push back on claims of underreported PE fees

Pennsylvania Public School Employees’ Retirement System and Pennsylvania State Employees’ Retirement System may have paid almost three times the reported fees to their private equity general partners. The two pension systems paid almost $6 billion in PE fees in the past 10 years, with only $2.2 billion reported, said Ludovic Phalippou, assistant professor of finance at Oxford University. The systems had […]

Illinois Municipal Retirement System, Oaktree Capital Management, private equity, pension fund
543 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 Public School Employees' Retirement System, Pennsylvania State Employees’ Retirement System. private equity, pension fund,
125 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
125 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 […]