RCP launches FoF

By Staff Report — 9 years ago

Seventh fund is targeted at $300M Chicago-based fund-of-funds manager RCP Advisors has launched its seventh vehicle, RCP Fund VII, with a $300 million target. Fund VI closed in May with $289 million in commitments, below its $350 million target. RCP Advisors specializes on investments in small to mid-market U.S. buyout funds. Typical funds the firm […]

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Wash. State Pledges To Distress

By Staff Report — 9 years ago

The $50 billion Washington State Investment Board has proven its continued faith in Oaktree Capital Management LP through two commitments totaling $400 million to funds managed by the distressed debt specialist. Oaktree Capital’s OCM Opportunities Fund VIII LP received a pledge from the limited partner of up to $250 million, while Oaktree Principal Fund V […]

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CalSTRS Commits $350M In Latest Round Of Pledges

By Staff Report — 9 years ago

The California State Teachers’ Retirement System recently disclosed five private equity pledges totaling $350 million. The money will go to a variety of strategies, from energy to mezzanine to growth equity. All of the pledges took place in the second quarter. CalSTRS committed $100 million to Energy Capital Partners II LP, a buyout fund earmarked […]

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CalPERS’ performance nosedives

By Staff Report — 9 years ago

“About what we expected,” says CIO Assets under management at the California Public Employees’ Retirement System, the nation’s largest public pension, dropped 23.4% between June 30, 2008, and June 30, 2009, its steepest ever year-over-year decline. Moreover, its private equity portfolio lost 31.4% of its value, with a value of $23 billion through March 31, […]

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Florida Wants To Stretch Its Wings

By Staff Report — 9 years ago

The Florida State Board of Administration intends to extend its geographic reach, in part by forming relationships with international managers not currently in the portfolio. A presentation made in June to the Florida State Board of Administration by Hamilton Lane, the limited partner’s private equity adviser, noted that the strategic objectives for the private equity […]

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CalPERS gives OK to PE allocation boost

By Staff Report — 9 years ago

As expected, state public pension fund ups its private allocation last week by 40% The California Public Employees’ Retirement System has raised its private equity investment target by 40%, while also taking the first steps toward snapping up distressed debt as slumping markets create some real bargains. The board of the country’s largest public pension […]

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CalPERS to vote on boosting PE allocation

By Reuters News — 9 years ago

CalPERS also to take the first steps toward snapping up distressed debt as slumping markets create some real bargains The California Public Employees’ Retirement System made headlines last week when it announced that it may boost its private equity allocation from 10% to 14 percent. A vote is scheduled for the pension fund’s board meeting […]

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NYSCRF Pledges to VC and Overseas F-O-F

By Staff Report — 9 years ago

The $120 billion New York State Common Retirement Fund made two private equity pledges totaling $125 million in March, one to a venture capital firm and the other to a funds-of-funds manger. New York-based DFJ Gotham Ventures received a $25 million commitment for its second fund, which is targeting $125 million. This is a new […]

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NYSCRF Bans Use Of Placement Agents

By Staff Report — 9 years ago

New York State Comptroller Thomas DiNapoli has forbidden the use of placement agents, paid intermediaries and registered lobbyists in investments with the New York State Common Retirement Fund, including flat fees and contingent fees. The ban is a response to charges, including fraud, bribery and money laundering, brought in March and April, involving illegal fees […]

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Florida Maps Out Interest In Distressed, Mezz, Infrastructure

By Staff Report — 10 years ago

The Florida State Board of Administration, which oversees the $97 billion Florida Retirement System, is looking to boost its exposure to distressed debt, mezzanine and infrastructure funds in a big way. The limited partner recently revealed the details of its strategic investments program, which had a total of about $4.5 billion in funded and unfunded […]

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NY Pension Scandal Rocks Market

By Staff Report — 10 years ago

The private equity industry was abuzz last week after hearing that some of its marquee names are enmeshed in a pay-to-play scandal that could damage their firms and impugn an industry that already has a spotty PR record. New York Attorney General Andrew Cuomo brought a slew of charges—including fraud, bribery and money laundering—against David […]

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SF ERS Re-Ups With TA, But Slows Pacing

By Staff Report — 10 years ago

The San Francisco Employees’ Retirement System has drastically slowed its commitment pacing to alternatives but still pledged a total of $40 million to an existing relationship. The limited partner set an investment pace of about $275 million for its calendar-year 2009 alternative investment program, according to Norm Nickens, spokesperson. This is a little more than […]

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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 […]

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RCP Nears Target For Latest Fund Of Funds

By Staff Report — 10 years ago

Chicago-based fund-of-funds manager RCP Advisors has so far closed on $300 million for its sixth vehicle, which has a target of $350 million. The firm is still fundraising and will likely hold a final close for RCP Fund VI LP by the end of April. The firm’s previous vehicle targeted $250 million, but ended up […]

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NJ Rescinds One Pledge, Trims Two Others

By Staff Report — 10 years ago

In light of a shift in strategy dictated by its recently approved 2009 investment plan, the New Jersey State Investment Council has withdrawn a pledge to a sponsor of large European buyouts. It will also lower a pair of commitments to a U.S. mega-fund manager, taking advantage of concessions offered by the general partner. The […]

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CalSTRS Telegraphs Bump In Private Equity Allocation

By Staff Report — 10 years ago

The California State Teachers’ Retirement System could be making more room for private equity within its considerable portfolio. According to board documents, the limited partner will likely expand its target allocation to the asset class to 12 percent from 9 percent, although the formal adoption of new targets won’t take place until July. “The bottom […]

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LACERA Picks Pathway For Mid-Market Buyout Assignment

By Staff Report — 10 years ago

The Los Angeles County Employees Retirement Association has chosen Pathway Capital Management to manage a separate account of $300 million earmarked to commit to middle-market buyout funds over the next three years. Pathway Capital, which has offices in Irvine, Calif., West Warwick, R.I., and London, edged out Hamilton Lane for the assignment. Because no RFP […]

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New Jersey Pledges Total $150M In Pair Of Re-Ups

By Staff Report — 10 years ago

The New Jersey State Investment Council has gone with a pair of re-ups for its latest commitments, authorizing pledges of $50 million commitment to Charterhouse Capital Partners IX LP and $100 million to Onex Partners III LP, according to Thomas Vincz, a spokesperson for the limited partner. Charterhouse Capital, based in London, sponsors management buyouts […]

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