CalPERS Portfolio Under Review, Clock Ticking

By Staff Report — 13 years ago

The California Public Employees’ Retirement System (CalPERS) is undergoing a strategic review of its Alternative Investment Management program, with final results and recommendations expected sometime this fall. Strategic reviews of institutional investment programs are hardly uncommon, but CalPERS holds a special place as the world’s second-largest private equity investor. It managed approximately $21.4 billion of […]

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Changes At CalPERS?

By Staff Report — 13 years ago

The California Public Employees’ Retirement System (CalPERS) is undergoing a strategic review of its Alternative Investment Management program, with final results and recommendations expected sometime this fall. And any large-scale strategic changes could have wide-ranging repercussions. Strategic reviews of institutional investment programs are hardly uncommon, but CalPERS holds a special place as the world’s second-largest […]

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CalPERS Sets New Consultant Rules

By Staff Report — 13 years ago

The California Public Employees’ Retirement System (CalPERS) announced last week that its Board of Administration adopted new policies regarding disclosure of potential conflicts of interest among its investment advisors The new policy requires investment consultants to “identify any future circumstances that may create actual, potential or perceived conflict of interests prior to providing advice in […]

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WSIB Chooses Consultant

By Staff Report — 13 years ago

Last week The Washington State Investment Board was scheduled to vote on a recommendation that it select Capital Dynamics as its next private equity consultant. If approved, the move would be a major loss for La Jolla, Calif.-based Pacific Corporate Group, which has served as WSIB’s private equity consultant for the past five years. A […]

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CalPERS Commits Another $425M To Private Equity

By Staff Report — 13 years ago

California State Employees’ Retirement System (CalPERS), the $183 billion pension system, continued its investment in to private equity with a series of commitments worth as much as $425 million. In its May 16, Investment Committee meeting, the pension fund made up to $415 million in commitments to five private equity funds. In its investment committee […]

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CalSTRS Plans To Boost Buyouts And Cut VC

By Staff Report — 13 years ago

Limited partners in private equity have been changing their allocations in the face of a changed and changing market. The latest of the largest private equity LPs to plan a large allocation change is the California State Teachers’ Retirement System (CalSTRS). The retirement system will decide in July on a plan that would see it […]

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CalSTRS Mulling More Buyouts

By Staff Report — 13 years ago

The California State Teachers’ Retirement System (CalSTRS) is considering a plan to slightly cut back its venture allocation in favor of more buyouts. The pension system’s investment committee will meet in July to consider recommendations that its target allocation for buyout funds be increased from 60% to 70% and that the target allocation for investment […]

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RCP Advisors keeps Chugging Along

By Staff Report — 13 years ago

RCP Advisors LLC, a fund-of-funds based in Chicago, is continuing to forge ahead. The firm, in the midst of raising its third fund, a $175 million targeted vehicle, recently announced that it has made a commitment to Sentinel Capital Partners latest vehicle, investing alongside AlpInvest, Abbott Capital Management and Pacific Corporate Group. Sentinels new $319 […]

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Oregon Targets Its Own Backyard

By Staff Report — 13 years ago

Oregon is the latest state to invest money into indigenous or nearby private equity groups with the goal of spurring local business development in its region. The Oregon Investment Counsel initiated the program in September, hiring Credit Suisse First Boston to spearhead the effort, which through the recently formed Oregon Investment Fund will dedicate $100 […]

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CPPIB Ups Its PE Investments

By Staff Report — 13 years ago

The Great White North is putting more of its green outside of Canada. The CPP Investment Board (CPPIB) announced May 6 that is it committing an additional $1.05 billion to five private equity funds, bringing its total commitment to the asset class to $6.7 billion. * The Toronto-based pension fund committed $257 million to Paris-based […]

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New York Seeks Greater Freedom For PE Investment

By Staff Report — 13 years ago

The Empire State may be striking back at the laws that govern its pension investment. A bill proposed in the New York State Senate would alter the rules governing pension investment and free the state to, among other things, increase its pensions’ private equity allocations. State Senator Joseph Robach proposed State Senate bill S3894 at […]

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CalPERS Taps Fund Manager, Adds Markets

By Larry Aragon — 13 years ago

The California Public Employees’ Retirement System (CalPERS) announced last week that it again picked Santa Monica, Calif.-based Wilshire Associates as the primary pension consultant to its $182 billion fund. This didn’t come as any surprise to the firm. It has served CalPERS in that capacity for the past 22 years. Wilshire is credited with overseeing […]

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NY Seeks More Freedom for PE

By Staff Report — 13 years ago

The Empire State may be striking back at allocation volatility and the laws that govern its pension investment. A bill recently proposed in the state senate would alter the rules governing pension investment and free the state to increase its pensions’ private equity allocations. For instance, if passed, the bill would eliminate the alternative investment […]

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AlpInvest And Lexington Buy $1.2B DPL Portfolio

By Staff Report — 14 years ago

It’s lights out for the private equity business at DPL (NASDAQ: DPL) the parent company of Dayton Power & Light Co. The Dayton, Ohio-based energy giant announced earlier this month that it sold its private equity portfolio to AlpInvest Partners and Lexington Partners for approximately $850 million. The portfolio involved contains about $1.2 billion in […]

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CalPERS Exec Warns of Bubble

By Staff Report — 14 years ago

Mark Anson, chief investment officer for the California Public Employees’ Retirement System (CalPERS), warned last week that the U.S. private equity market could be building toward a bubble. The comments were made during a conference in Geneva, with Anson pointing to a confluence of LBO fund capital overhang, rising interest rates and increased competition from […]

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NJ Pension PE Move Advances

By Staff Report — 14 years ago

At a time when there is a glut of capital trying to find a home in venture funds, the state of New Jersey is inching closer to adding $9 billion to the alternative asset class. The Garden State’s Investment Council on Jan. 20 approved rules and procedures to establish the Alternative Investment Program. The AIP […]

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HarbourVest, Nova Buy Portfolio

By Staff Report — 14 years ago

21996; HarbourVest Partners can’t get enough of European cuisine, particularly cheap venture dishes. It recently bought the assets of the West LB Growth Fund from the German investment bank West LB. London’s Nova Capital Management will manage the assets. The firms declined to disclose the price of the deal, but the 15-company portfolio has $75 […]

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CalSTRS Has Small Aspirations

By Staff Report — 14 years ago

Most limited partners say they target new and emerging funds, but few actually have a plan in place to find these new managers. The California State Teachers’ Retirement System, has put together such a plan, tapping fund-of-funds firm INVESCO Private Capital to coordinate the initiative. For the larger pension plans, investing in these next generation […]

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