Illinois Teachers Lifts PE Target; Commits To Three

By Larry Aragon — 9 years ago

The Teachers’ Retirement System of the State of Illinois in late May upped its target allocation to private equity to 10 percent from 8 percent. In addition, the limited partner made three private equity pledges totaling $175 million and is trying to fill two staff positions and hire a consultant. The LP made other adjustments […]

Continue

Can Small-Cap Shops Lead An Industry Renaissance?

By Larry Aragon — 9 years ago

Many economists are looking to small businesses to lead the economy out of a recession. Can small shops do the same for the buyout market’s current funk? No universal definition exists of what are variously called small-cap or lower-mid-market buyout funds. Some define them as funds of less than $500 million. Others define them as […]

Continue

LP Profile: Adveq Still Hungry For Emerging Managers

By Staff Report — 9 years ago

Institution: Adveq Management AG Assets Under Management: $4 billion Head of U.S. Office: Lee Gardella, managing director and head of investor relations and development (North America) Size of Current U.S. Fund of Funds: $458 million At a time when raising a fund is a struggle for even the most established buyout shops, emerging managers may […]

Continue

Two New Mexico LPs Suspend Aldus Equity As Advisor

By Larry Aragon — 9 years ago

The New Mexico Educational Retirement Board (NM ERB) and the New Mexico State Investment Council (NM SIC) have both temporarily suspended operations with consultant Aldus Equity, citing concerns about the Dallas-based advisory firm’s connection to an alleged kickback scheme involving the emerging manager program it runs for the $120 billion New York State Common Retirement […]

Continue

Head Abroad For Vacation From Denominator Effect

By Larry Aragon — 9 years ago

Fundraising is tough all over, but you may find it a mite easier if willing to travel abroad. As a general rule of thumb, institutional investors outside the United States have newer private equity programs. That’s good news for fundraisers since it’s less likely that they’ve been hit with the dreaded denominator effect, in which […]

Continue

Funds of Funds Still Active But Some Slowing Pledge Pace

By Larry Aragon — 10 years ago

With so many pension plan sponsors and endowments on the sidelines at the moment, either waiting for year-end portfolio valuation numbers or to see how the economy fares in the months ahead, funds of funds could be one of the few games in town for shops looking to raise a buyout fund in 2009. To […]

Continue

LPs Want Answers From Aldus After Alleged NYSCRF Kickbacks

By Larry Aragon — 10 years ago

At least three clients of Aldus Equity Partners are expressing concerns about the Dallas-based advisory firm’s connection to the alleged kickback scheme stemming from the emerging manager program it runs for the $120 billion New York State Common Retirement Fund. Mainly the questions center around why the firm hired a “finder,” even though it already […]

Continue

Firms & Funds

By Larry Aragon — 10 years ago

3i Group said that the value of its largest investments dropped 21 percent for the quarter ending Dec. 31, 2008. It also announced that Philip Yea is stepping down as CEO, to be succeeded by current infrastructure chief Michael Queen. Angelo Gordon & Co. is targeting $3 billion for its seventh distressed debt fund, according […]

Continue

NY State Common Retirement Fund To Hire PE Director

By Larry Aragon — 10 years ago

The $155 billion New York State Common Retirement Fund, or NYSCRF, is looking to fill a newly-created position of director of private equity. The person hired will replace Nick Smirensky, who left the deputy CIO and head of private equity investing positions with the limited partner in October to create an investment program for the […]

Continue

TRS Kicks Off Big PE Year With $400M In Pledges to CS

By Larry Aragon — 10 years ago

The $81 billion Teacher Retirement System of Texas (TRS) recently unveiled two pledges totaling $400 million for a pair of captive accounts managed by Credit Suisse’s Customized Fund Investment Group. The latest commitments, however, represent a small part of the roughly $2.5 billion the pension fund intends to commit to private equity in 2009. The […]

Continue

Digital Edition

To read a digital copy of our latest magazine

click here

PE News Briefs