Swarthmore College, pension fund, private equity, fossil fuels, oil and gas, divestment
100 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 […]

Artificial intelligence, venture capital, Oak HC/FT, Tricia Kemp
231 Views

AI’s sharp gains in venture funding anything but artificial

Venture is diving ever deeper into artificial intelligence, finding fresh problem-solving opportunities in potentially lucrative fields like payment processing and fraud prevention, self-driving vehicles, machine learning and more, industry players and the latest data say. Q1 venture investments in AI jumped 72 percent to $1.9 billion from a year earlier, according to the MoneyTree Report […]

Patrick McCloskey, Aeterna Capital, private equity, family office
493 Views

Five Questions with Patrick McCloskey, founder of Aeterna Capital Partners, a family office-backed investment firm

Patrick McCloskey is founder and managing partner of Aeterna Capital Partners and represents the interests of a European multigenerational family. The firm, set up in the U.S. in 2013, focuses on lower-middle-market companies and structured special situations. Previously, McCloskey co-managed Lazard’s private-placement group from New York and London and held similar roles at Lehman Brothers […]

Pennsylvania State Employees Retirement System,Pennsylvania Public Schools Employee Retirement System, pension fund, private equity, Lindsay Goldberg, PA SERS
133 Views

PSERS to offer fund stakes on secondary market as it shrinks PE portfolio

Pennsylvania State Employees’ Retirement System is following a strategy employed by other U.S. public pensions, aiming to shrink the number of relationships in its private equity portfolio and concentrate larger checks to fewer GPs this year. Other public systems have gone a similar route after years of building large portfolios stacked with hundreds of GP relationships. […]

Pennsylvania State Employees Retirement System,Pennsylvania Public Schools Employee Retirement System, pension fund, private equity, Lindsay Goldberg, PA SERS
362 Views

PA SERS to offer fund stakes on secondary market as it shrinks PE portfolio

Pennsylvania State Employees’ Retirement System is following a strategy employed by other U.S. public pensions, aiming to shrink the number of relationships in its private equity portfolio and concentrate larger checks to fewer GPs this year. Other public systems have gone a similar route after years of building large portfolios stacked with hundreds of GP relationships. […]

Christopher Zook, CAZ Investments, private equity, family office, car rental, transport, merger, M&A
399 Views

Five Questions with Christopher Zook, chairman of multifamily office CAZ Investments

Christopher Zook is chairman of CAZ Investments, a Texas multifamily office. He previously managed portfolios for wealthy individuals and institutions at Zook Group, part of CIBC Oppenheimer. Zook started CAZ Investments with a capital pool from Texas families in 2001. Through a mix of investment strategies, CAZ managed $956 million as of Dec. 31, 2017. The […]

Srinivas “Srini” Pulavarti, Emory University, private equity, pension fund
135 Views

New Emory CIO takes charge of fast-growing $1 bln-plus private portfolio

Srinivas “Srini” Pulavarti on July 1 is slated to become CIO of the investment company that manages the $7 billion investment portfolio, including a $1 billion-plus private-markets program, for Emory University and Emory Healthcare. Emory Investment Co’s private-market portfolio grew 16.6 percent to $1.26 billion for the year ended Aug. 31, 2017, the university’s 2017 annual report shows. The portfolio […]

Srinivas “Srini” Pulavarti, Emory University, private equity, pension fund
287 Views

New Emory CIO takes charge of fast-growing $1 bln-plus private portfolio

Srinivas “Srini” Pulavarti on July 1 is slated to become CIO of the company that manages a $7 billion investment portfolio, including a $1 billion-plus private-markets program, for Emory University and Emory Healthcare. Emory Investment Co’s private-market portfolio grew 16.6 percent to $1.26 billion for the year ended Aug. 31, 2017, the university’s 2017 annual report […]

Terrill Sanchez, PA SERS, Pennsylvania State Employees’ Retirement System
110 Views

Pennsylvania State Employees’ names executive director as returns climb

Terrill Sanchez will join Pennsylvania State Employees’ Retirement System as executive director, succeeding David Durbin, who retired earlier this year. The state employees’ pension has a $4.1 billion private equity portfolio, which accounted for 15.7 percent of its total fund in 2016. It has been one of the more prolific LPs in the market in recent years […]

Goldman Sachs, private equity, family office, Richard Kim, Galaxy Digital, cryptocurrency
157 Views

Ex-Goldman executive to head cryptocurrency at family office

Ex-Goldman Sachs executive Mike Novogratz has lured Richard Kim from Goldman to head the cryptocurrencies desk at his family office’s subsidiary, Galaxy Digital. Kim spent almost three years at Goldman Sachs in London and was part of the team setting up the cryptocurrencies desk. Before that he was at JP Morgan for five years, according to his LinkedIn account. Novogratz was a macro hedge fund […]

Cryptocurrency Blockchain venture capital, Justice Department, SEC, legislation
167 Views

Ex-Goldman executive to head cryptocurrency at family office

Ex-Goldman Sachs executive Mike Novogratz has lured Richard Kim from Goldman to head the cryptocurrencies desk at his family office’s subsidiary, Galaxy Digital. Kim spent almost three years at Goldman Sachs in London and was part of the team setting up the cryptocurrencies desk. Before that he was at J.P.Morgan for five years, according to […]

Yale University, pension fund, private equity, Warren Buffett
1407 Views

Yale rebuts Buffett, defends performance of alternative investments

Yale University’s endowment has defended the high fees that come with alternative investments by pointing to their strong returns. Yale’s defense, included in its just-released 2017 annual report, marked a rebuttal to billionaire investor Warren Buffett’s 2016 investor letter. In it, Buffett suggested that endowments and other institutions might do better by heeding his advice to […]

LPs fear trade wars as threat to global economy: survey

Institutional investors see trade wars and protectionism as the greatest risks to global markets, a fresh survey shows. Some 42 percent of respondents fear what seems to be growing insularity in markets worldwide, including the U.S., a recent survey  from the Commonfund Forum shows. In April the Donald Trump administration announced $50 billion of tariffs on Chinese goods, including […]

L2 Capital, Bob Levine, private equity, family office, Lakewood Capital, executive recruitment, merger, M&A
295 Views

Five Questions with Bob Levine of L2 Capital, a PE family office

Bob Levine co-founded the private equity firm Milestone Partners in 1995 after decades of participating in lower-middle-market transactions. In 2010, driven by changes in the regulatory environment including the Dodd-Frank Wall Street Reform and Consumer Protection Act and increased oversight, Levine decided to invest his family wealth in L2 Capital, his Devon, Pennsylvania, PE family […]

484 Views

CIO quits; Ontario Teachers’ private equity returns 18.8 pct in 2017

Bjarme Graven Larsen resigned as the chief investment officer of the Ontario Teachers’ Pension Plan after starting in the role in early 2016. Ron Mock, president and chief executive officer of the $189.5 billion fund, will serve as interim CIO, according to a press release. Larsen joined the fund in Feb. 2016, replacing Neil Petroff […]

507 Views

Harvard backs ex-credit team to tune of estimated $300 mln: report

Harvard Management Co will invest in Evolution Credit Partners, a direct lending company formed by three ex-employees. Rene Canezin and Mike Guarnieri co-founded Evolution in 2017. The company seeks to provide financing solutions to private middle-market companies with an annual Ebitda of $15 million to $100 million, according to Evolution’s website. Harvard Management will invest $300 million in the company, Bloomberg […]

Tom Baruch, Baruch Future Ventures, venture capital, family office
217 Views

Five Questions with Tom Baruch of Baruch Future Ventures, a family office

Baruch Future Ventures is the family office of venture capitalist Tom Baruch. Baruch has been an investor for more than three decades. At Exxon he managed investments and invested in early-stage companies like Supertex, which went public in 1982 and was bought by Microtech in 2014. Baruch collaborated with New Enterprise Associates to found CMEA Capital in 1988; some of its notable investments were Aclara Biosciences, now […]