NYSCRF Pledges to VC and Overseas F-O-F

By Cust Serv — 10 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 Cust Serv — 10 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 Cust Serv — 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 Cust Serv — 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 Cust Serv — 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 Lawrence 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 Cust Serv — 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 Cust Serv — 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 Cust Serv — 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 Cust Serv — 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 Cust Serv — 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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HarbourVest Blows Past Goal On Secondary Fund

By Cust Serv — 11 years ago

HarbourVest Partners, solidifying its place among the biggest guns of the secondary market, has reached its hard cap of $2.9 billion for Dover Street VII LP, a global secondary vehicle with an original fundraising target of $2 billion. The firm, which launched the fund in May, plans to hold a final close in the first […]

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Adams Street Thinks Time Is Right For Global Secondaries

By Cust Serv — 11 years ago

Adams Street Partners is hitting the fundraising circuit with its latest secondary fund, aiming to roughly triple the size of its predecessor. The fundraising goal for Adams Street Partners Global Opportunities Secondary Fund II is $600 million, far bigger than its $210 million predecessor formed in 2004. The Chicago-based firm, one of several fund-of-funds managers […]

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CalPERS To Up PE Allocation Target To 10 Percent In 1Q

By Cust Serv — 11 years ago

The California Public Employees’ Retirement System plans to boost its allocation target to alternative investments to 10 percent in the first quarter, part of an effort to better manage its presence in the asset class amid volatility in the public markets. The pension fund also announced additional pledges totaling nearly $800 million. As of Oct. […]

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CalPERS PE stakes under microscope

By Cust Serv — 11 years ago

London’s Preqin estimates the LP has sold $2.1B in PE assets in ’07 on the secondary market The California Public Employees’ Retirement System sold $2.1 billion of private equity assets in late 2007 in the secondary market, according to recently released private equity performance data. The data cover fund data through the second quarter of […]

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CalSTRS Selects Independent Evaluators For Proactive PE Program

By Cust Serv — 11 years ago

To add another check to its selection process, the California State Teachers’ Retirement System has chosen four firms to serve as independent fiduciaries for its nearly $1 billion Private Equity Proactive Portfolio program, earmarked for fund managers operating in emerging markets in California and elsewhere in the United States. The winners are Credit Suisse Customized […]

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CalPERS juggles capital calls

By Cust Serv — 11 years ago

CalPERS hopes to stagger capital calls in down market The nation’s largest pension fund, the California Public Employees’ Retirement System, is reaching out to general partners to stagger their capital calls. “We called the [private equity] partners for our planning purposes, and we are coordinating [the] timing of those [capital] calls with them,” said Patricia […]

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New York Commits $210M To U.S. And Asian Buyouts

By Cust Serv — 11 years ago

The New York State Common Retirement Fund, which controlled $153.9 billion at last check, recently re-upped to a middle-market buyout fund and began new relationships with a debut buyout fund and an Asian fund of funds. This latest round of commitments totaled $210 million. The limited partner pledged $100 million to Ares Corporate Opportunities Fund […]

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