CalSTRS Eyeing Big Commitments Through Separate Accounts

By Staff Report — 7 years ago

The $145 billion California State Teachers’ Retirement System, the nation’s second largest pension fund, is actively considering making large separate account commitments for its private equity program, a senior investment official at the fund told Buyouts. The development that comes on the heels of mega-separate account commitments from the Texas Teachers’ Retirement System and the […]

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CalPERS Says Fund It Seeded Yields 31% IRR

By Staff Report — 7 years ago

The California Public Employees’ Retirement System says it generated a 31 percent net IRR on its investment in GI Partners Fund I, a real estate and private equity firm that the pension fund seeded in 2001 and that is expected to be in the market shortly with a new fund. CalPERS committed $500 million to […]

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CalPERS Says Fund It Seeded Yields 31% IRR

By Staff Report — 7 years ago

The California Public Employees’ Retirement System says it generated a 31 percent net IRR on its investment in GI Partners Fund I, a real estate and private equity firm that the pension fund seeded in 2001 and that is expected to be in the market shortly with a new fund. CalPERS committed $500 million to […]

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Goodman, CPPIB Double Size Of China JV

By Reuters News — 7 years ago

Australia’s Goodman Group and Canada Pension Plan Investment Board have more than doubled their equity investment in a Chinese joint venture to $500 million, targeting growth in China’s logistics market, sister news service Reuters reported. The two parties formed a 80-20 joint venture with an initial commitment of around $180 million in 2009 to own […]

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Washington State Bets $550 Million On Global PE

By Staff Report — 7 years ago

It must be international month in the Washington State Investment Board cafeteria. At its November board meeting, the $79 billion pension system made more than $550 million in commitments to two global private equity managers, including $300 million for London-based Apax Partners and its Apax Europe VIII LP, and $250 million for Actis’s latest emerging […]

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PennSERS May Sell Half Its PE Assets; Hires StepStone

By Staff Report — 7 years ago

It has been a challenging time at the $26 billion Pennsylvania State Employees’ Retirement System. The fund faces increasing obligations to pensioners, it is over-allocated to private equity, and it has lost several members of its private equity team. Against this backdrop, the pension has been seeking buyers for up to $3 billion of its […]

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RCP Closes Fund VII, Gears Up Fund VIII

By Staff Report — 7 years ago

RCP Advisors, which runs several funds of funds focusing on the lower-middle market, wrapped up fundraising on its latest pool, RCP Fund VII, LP, with $300 million in committed capital. A person knowledgeable about the firm said that fundraising for Fund VII took around a year, and since two-thirds of Fund VII’s capital has already […]

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Pa. Pledges Over $60M To Several Strategies

By Staff Report — 7 years ago

The Pennsylvania State Employees’ Retirement System recently pledged a total of $62 million to four private equity firms for distressed, buyout and Asian investments, even though the limited partner’s actual allocation to private equity is above its target allocation to the asset class. The limited partner pledged up to $12.5 million to OCM Opportunities Fund […]

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Washington State Goes Green (Leonard Green, That Is)

By Staff Report — 7 years ago

The Washington State Investment Board has made a foundation-level investment in the newest offering from Leonard Green & Partners, a firm that the $84 billion pension system has invested with twice before. At its Sept. 15 board meeting, Washington State committed $300 million to Green Equity Investors VI LP, which has a target of $5 […]

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CalSTRS Commits $360M to PE and VC

By Staff Report — 7 years ago

In the latest quarterly investment report, the $153 billion California State Teachers Retirement System disclosed that it had made $300 million in fresh private equity commitments, plus another $60 million in commitments for venture capital. A spokesman for CalSTRS, Ricardo Duran, also said the pension was fielding proposals from various firms seeking to become its […]

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Harvard, Stanford Nearly Catch Up From Financial Crisis Losses

By Staff Report — 7 years ago

Harvard and Stanford, two of the nation’s richest universities, said that endowment returns for fiscal 2011 brought them to within striking distance of where they stood before the financial crisis lopped off billions of investment value. The Harvard Management Company, which manages the university’s endowment, reported a gain of 21.4 percent, or $4.4 billion, in […]

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CalPERS Seeks to Expand Emerging Manager Efforts

By Lawrence Aragon — 8 years ago

The giant, $237 billion California Public Employees Retirement System says it is seeking a “new investment vehicle,” likely to be a customized fund of funds, to invest in emerging private equity managers, complementing the $2 billion that the pension has already invested in its emerging manager initiatives. CalPERS declined to disclose the size of the […]

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Newly Merged Carlyle/AlpInvest Signs MERS in $750M Deal

By Staff Report — 8 years ago

In an effort to build a bigger private equity portfolio, the $6.5 billion Municipal Employees Retirement System of Michigan has engaged a newly merged Carlyle Group and AlpInvest to manage as much as $750 million of the pension’s money. The pension currently has a 9.6 percent allocation to private equity, or slightly more than $630 […]

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Florida Eyes $1.6B More For Buyouts

By Staff Report — 8 years ago

Ashbel “Ash” Williams, the chief investment officer of the Florida State Board of Administration, said he may urge the board and the state legislature to raise the state’s current cap on alternative investments, such as private equity, from 10 percent to 16 percent, including a new program to invest in hedge funds. Williams emphasized that […]

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Texas Teachers Amps Up Plans for Private Equity

By Staff Report — 8 years ago

The $109 billion Teachers Retirement System of Texas said it plans to commit $1.5 billion in fresh capital to private equity through the end of the year, putting the giant pension on a track to spend a quarter billion dollars a month on the asset class, according to a presentation made to the board on […]

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CalPERS Names Desrochers As New PE Chief

By Staff Report — 8 years ago

The largest pension in America has named a new chief for the nation’s largest private equity program. Réal Desrochers was named senior investment officer in charge of private equity at the California Public Employees Retirement System. CalPERS’s private equity portfolio has about $33 billion in assets and $49 billion in committed capital. Desrochers will report […]

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Washington State Re-Ups With $300 Million to Providence

By Staff Report — 8 years ago

The Washington State Investment Board approved a $300 million commitment to a new fund being raised by Providence Equity Partners, the Providence Equity Partners VII, L.P. The fund is reportedly seeking to raise about $8 billion, according to Dow Jones. Liz Mendizabal, who heads up public affairs for the Washington State pension, said the state […]

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HarbourVest’s Absolute Acquisition (Not The Vodka)

By Staff Report — 8 years ago

The board of Absolute Private Equity, a Zurich-based, publicly listed fund-of-funds firm, recommended to shareholders that they sell the firm to HarbourVest Partners for $752 million in cash, or $17.25 a share. The deal is subject to majority shareholder approval. Absolute’s funds invest in a range of private equity and venture investments, including stakes in […]

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