LACERS, Los Angeles City Employees’ Retirement System, 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 […]

Charlesbank Capital Partners, private equity, technology
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 Municipal Retirement Fund, 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 […]

MIT
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 […]

MassPRIM, pension fund, private equity, venture capital
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 […]

Chad Boeding, Epiq Capital Group, Mark Zuckerberg, Facebook, private equity, Iconiq
823 Views

Boeding quits Zuckerberg’s investment manager, launches multifamily office

Chad Boeding, co-founder of ICONIQ Capital, has left to start a multifamily office, EPIQ Capital Group. Based in San Francisco, EPIQ intends to provide investment advice to senior executives and founders of high-profile companies that have a net worth of more than $100 million. Several ICONIQ employees, from analysts to vice presidents, left to join Boeding’s […]

Arizona PSPRS, private equity, venture capital, pension fund
197 Views

Arizona pension speeds co-investment decisions with reserve pools

The battle is on for co-investment opportunities and limited partners are finding innovative ways to gain an edge. Arizona Public Safety Personnel Retirement System’s strategy centers on reserving co-investment allocations when making fund commitments, according to Mark Steed, deputy chief investment officer and chief of staff for the Arizona pension fund. The reserves, preapproved by the […]

Carleton College, Kelsey Deshler, private equity, pension fund, education
390 Views

Carleton College seeks private-markets exec as it expands investment team

Carleton College’s endowment is building its investment team after hiring Kelsey Deshler as chief investment officer earlier this year. Expanding the team is one of her top priorities, Deshler said. The new roles include a private-markets professional and a generalist for the team; two interns from Carleton will also be working with the investment office this year. Deshler […]

Alaska Permanent Fund, private equity, pension fund
270 Views

Alaska Permanent’s PE program drives strong returns

Alaska Permanent Fund Corp’s $7.6 billion private equity portfolio returned 18.94 percent, the highest among all asset classes for the nine months ended March 31. The $64.59 billion fund continues to take direct control of the program and build out its co-investments. The PE portfolio generated 24.38 percent over the 12 months and has averaged 22.05 […]

Pennsylvania Public Schools Employee Retirement System, pension fund, private equity, Lindsay Goldberg
147 Views

PA SERS commits $75 mln to Hahn & Co, eyes co-investments

Pennsylvania State Employees’ Retirement System committed $50 million to Hahn & Co’s Fund III and $25 million to Hahn’s Fund III-S LP, which will co-invest alongside Fund III. In a bid to reduce management fees, the pension fund will research co-investment opportunities, the 2018-2019 Investment Plan, approved by the Pennsylvania SERS board on April 25, shows. Moreover, the pension hopes […]

Abu Dhabi Investment Authority, UAE, private equity, pension fund
498 Views

PE may be entering a period of lower returns: ADIA

Increased competition for deal flow and high valuations suggest that private equity returns may reduce for 2018 and beyond, Abu Dhabi Investment Authority’s 2017 annual report said. But ADIA’s PE strategy of regional and sector focus will enable it to assess relative value of investments across geographies and capital structures, the report said. In addition, […]

TPG, Rise Fund, John Kerry, renewable energy, private equity
171 Views

John Kerry joins TPG’s Rise Fund as adviser with renewable energy focus

TPG’s impact-investing group hired former Secretary of State John Kerry as senior adviser for its renewable-energy portfolio. Kerry will “help develop and advance broad strategy goals, work with portfolio companies, and help develop investment opportunities,” Rise Fund said in a news release. To date, Rise Fund has invested in two energy-related companies. One is C3IoT, an artificial-intelligence company with […]

Swarthmore College, pension fund, private equity, fossil fuels, oil and gas, divestment
129 Views

Student pressure to divest from fossil fuels may affect PE at Swarthmore

Swarthmore, whose $1.95 billion endowment returned 14.2 percent last year, once again faces student activism to divest fossil-fuel investments. Swarthmore Sunrise, the activist student group, wants the college to shed direct investments in fossil fuels. It also wants external investment managers to move the endowment into fossil-free portfolios. The group has asked Valerie Smith, the college president, […]