private equity, Pennsylvania, World's End State Park
253 Views

PA PSERS backs Platinum Equity following delayed vote

Pennsylvania Public School Employees’ Retirement System at its August meeting went forward with its planned commitment to Platinum Equity’s latest fund, despite continued protest from advocacy groups. The board approved a $300 million commitment to Platinum Equity Capital Partners V, targeting $8 billion. The global PE fund focuses on underperforming and undermanaged businesses in North […]

Singapore, private equity, Texas teachers
277 Views

Texas Teachers considers office in Singapore to tackle Asia-Pacific market

Teacher Retirement System of Texas is considering opening an office in Singapore as it aims to increase its footprint in Asia-Pacific, according to an investment management committee document from its July meeting. The system, which has $22.2 billion across its portfolio invested in Asia-Pacific assets, believes that an office in Singapore would help the system […]

trade war, china, private equity, LPs, investors, economy
162 Views

LPs not changing their investment strategy because of Brexit, trade war: survey

An escalating trade war between the U.S. and China and the U.K.’s upcoming departure from the European Union aren’t enough to deter limited partners from pumping capital into private equity, according to a survey from global placement agency Eaton Partners. Out of the 50 LPs surveyed, 48 percent said that uncertainty about Brexit has “no […]

Monument Group, Bart Molloy, private equity, emerging managers
254 Views

Five Questions with Monument Group’s Bart Molloy on emerging-manager growth

Bart Molloy is a managing director at Monument Group. We spoke with him about the rise in emerging managers and the firm’s relationship with independent sponsors. 1. How is the PE sector performing today compared with 25 years ago? Private equity remains the most exciting asset class in that it continues to evolve, with increased emphasis on […]

private equity, hurdle rate, MJ Hudson, Advent International,
434 Views

Hurdle rates continue steady decline, 8 pct no longer ‘risk free’: study

Private equity funds could become riskier investments if there’s no longer a preferred rate of return, according to Eamon Devlin, a partner at asset management consultant group MJ Hudson. Devlin helped author the firm’s latest research on private equity and venture capital funds. MJ Hudson found that 60 percent of funds surveyed have an 8 […]

Illinois, Teachers’ Retirement System of the State of Illinois, pension fund, private equity
141 Views

Illinois TRS commits $244 mln to Inflexion, Stone Point and TA

The Teachers’ Retirement System of the State of Illinois pledged $244 million in private equity commitments spanning European and North American markets at its June meeting. The system committed 39 million pounds (about $49.4 million) to two funds from London-based Inflexion Private Equity Partners, which already manages $1.8 million of Illinois’ assets, according to its […]

Texas, state flag,
135 Views

Texas County & District pledges $144 mln to Vista, Synova, Carnelian

Texas County & District Retirement System pledged about $144 million to private equity funds at its June meeting. The system made the following commitments: $50 million to Vista Equity Partners’ Endeavor Fund II, targeting $750 million. The fund focuses on smaller deals that don’t fit middle-market or flagship funds. Vista’s first Endeavor fund raised $560 […]

police, police car, law enforcement, cop, cops
247 Views

Ohio P&F backs Veritas Capital’s flagship fund

Ohio Police & Fire Pension Fund backed Veritas Capital’s seventh flagship fund, but it committed less than it did for Fund VI, sticking with its plan to slow its private market commitments this year. The system committed $20 million to Veritas Capital Fund VII, which is targeting $5 billion. The fund, launched in March, focuses […]

Baltimore Fire & Police pledges $15 mln to Lexington Partners

Baltimore Fire & Police Employees’ Retirement System has committed to Lexington Partners’ latest flagship. At its June meeting, the system pledged $15 million to Lexington Capital Partners Fund IX, which is targeting $12 billion. The pool focuses on secondary transactions in Europe and the U.S. Baltimore F&P also interviewed HarbourVest Partners and Greenspring Associates, but ultimately […]

Wisconsin

Wisconsin ups commitments to Lindsay Goldberg, Providence Equity

The Wisconsin state pension system boosted its commitments to Lindsay Goldberg and Providence Equity Partners in the first quarter. State of Wisconsin Investment Board committed an additional $100 million to Lindsay Goldberg’s fifth fund, which is targeting $4 billion, said spokesperson Vicki Hearing. The board previously pledged $100 million to the fund late last year. […]

VCJ Venture LPs Nebraska
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Nebraska backs HarbourVest and NEA funds

Nebraska Investment Council committed to funds from New Enterprise Associates and HarbourVest Partners at its June meeting. The system, which said in March that it was considering an additional investment with the venture firm, committed $50 million to New Enterprise Associates’ 17th fund, which is targeting $3.6 billion for its largest fund to date. The […]

Texas Employees Retirement System, pension fund, private equity, LGT Capital Partners

Texas Municipal upsizes commitment to Updata

Texas Municipal Retirement System upsized its commitment to the flagship fund of growth-stage investor Updata Partners. The system’s investment of as much as $25 million to Updata VI, which focuses on growth investments in software companies, will apply to its 2018 pacing plan rather than its 2019 PE pacing model, according to a presentation from its […]

Mansco Perry, CIO, Minnesota State Board of Investment

Minnesota pledges $850 mln to 7 PE, credit funds

Minnesota State Board of Investment approved $852 million to seven private equity and credit funds spanning the technology and healthcare sectors at its May 30 meeting. Commitments included: $150 million to Apax Partners’ Fund X, targeting $10 billion. Apax’s latest flagship focuses on telecom, global technology, services, healthcare and consumer. €135 million ($151 million) to IK […]

Commonfund Capital, private equity, venture capital, survey
189 Views

Back to School: Investors like small funds, emerging markets

Institutional investors love PE and say small funds and emerging markets managers present the best opportunity today. That’s according to a Commonfund survey, which included 200 investors from endowments, foundations and public pensions. Responses came in March at the 21st annual Commonfund Forum. The survey showed 31 percent of respondents felt emerging markets represented the best […]

Nebraska Investment Council, pensions, private equity, New Enterprise Associates, venture capital

Nebraska considers bet on NEA’s largest fund to date

Public pensions usually don’t get access to top performing venture capital funds. But Nebraska doesn’t have that problem. Nebraska Investment Council said at its March meeting that it was considering investing in New Enterprise Associates’ flagship fund. The council, which manages $27 billion in assets across 32 investment programs, has a current relationship with NEA. In […]

LACERS, Los Angeles, private equity, pension fund, real estate
108 Views

LACERA pledges $270 mln to tech, venture

Los Angeles County Employees Retirement Association at its January meeting approved $270 million in commitments. The system also gave an update on a secondary sale of a chunk of its PE portfolio. LACERA voted to commit up to $100 million to LAV Biosciences Fund V, which focuses on venture, growth and public equity in the […]