LA Fire Narrows PE Adviser Search

By Larry Aragon — 9 years ago

The Los Angeles Fire & Police Pensions has winnowed down to nine the 19 responses it received to a spring RFP issued for a private equity adviser to fill the void left when it terminated Aldus Equity Partners. The contenders are Cliffwater, Credit Suisse First Boston, Ennis Knupp, Hamilton Lane, Macquarie Funds Management, New England […]

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Quote Of The Week

By Larry Aragon — 9 years ago

“We look to have a relationship with these groups that transcends the typical LP/GP relationship.” –Thomas Haubenstricker, CEO, New York Life Capital Partners LLC, discussing the bond between his firm and the emerging managers it backs.

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NYSCRF Pledges To Mezz Fund, Emerging Manager

By Larry Aragon — 9 years ago

The $116.5 billion New York State Common Retirement Fund announced two pledges to private equity in late July, one to a mezzanine fund and one to an emerging manager that invests in community banks. The limited partner re-upped with Falcon Investment Advisors through a $50 million pledge to Falcon Strategic Partners III. The firm seeks […]

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Texas Firm Sees Final Close Of Debut Fund By Year-End

By Larry Aragon — 9 years ago

Prophet Equity, a Southlake, Texas-based private equity firm, is more than 85 percent of the way toward its fundraising goal, Buyouts has learned. As of early August, the firm’s namesake fund, Prophet Equity LP, had raised $215 million, and will “definitely” hit its hard cap of $250 million from external limited partners, according to a […]

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Ill. TRS May Spend Up To $1.2B On PE in FY09

By Larry Aragon — 9 years ago

The $29 billion Teachers’ Retirement System of the State of Illinois is planning to start pledging in a big way to various private equity strategies over the next year to reach its goal of a 10 percent allocation to the asset class. The tactical plan for the fiscal year, which began on July 1, calls […]

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Maranon Could Wrap Mezz Fund By Fall

By Larry Aragon — 9 years ago

Chicago-based Maranon Capital is hoping to hold the next close for its first mezzanine fund in the August-September timeframe, Buyouts has learned. The shop, which launched Maranon Mezzanine Fund LP in early 2008, is targeting $250 million. It held a first close at roughly $93 million in July 2008, and has already secured another $45 […]

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LA Fire Mulls RFP Responses, PE Program Changes

By Larry Aragon — 9 years ago

The Los Angeles Fire and Police Pensions is reviewing responses to the RFP it issued in May for private equity investment advisers to fill the hole left by its termination of Aldus Equity Partners. The limited partner is also considering using a single adviser for both the core and specialized parts of its private equity […]

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Ill Teachers Adds Emerging Manager; Ups Pledge To Mega-Fund

By Larry Aragon — 9 years ago

The Teachers’ Retirement System of the State of Illinois recently added to the list of private equity firms in its emerging managers program with a pledge to a mezzanine fund. It also gave an additional slug to a name-brand mega-fund. In mid-June, the plan sponsor committed up to $25 million to Maranon Mezzanine Fund LP, […]

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The Rising Importance Of The First Close

By Larry Aragon — 9 years ago

The first close for a new fund is meant to be a strong statement. A buyout shop wants to come out with an impressive figure, a tally that threatens its target, signaling to prospective limited partners they ought to get in while the getting is good. And if a firm can go “one and done,” […]

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Illinois Teachers Lifts PE Target; Commits To Three

By Larry Aragon — 10 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 […]

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Can Small-Cap Shops Lead An Industry Renaissance?

By Larry Aragon — 10 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 […]

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LP Profile: Adveq Still Hungry For Emerging Managers

By Staff Report — 10 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 […]

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