TRS of Texas considers direct investments

By Cust Serv — 12 years ago

The Teacher Retirement System of Texas last week was scheduled to discuss a gubernatorial request that it allocate up to $600 million for direct venture capital investments into Texas-based companies and related technology endeavors. If approved, it would rank as the largest venture capital fund based in Texas. TRS currently makes all of its venture […]

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Guerilla Warfare: RCP Stalks The Small Market

By Cust Serv — 12 years ago

You can spot them in a New York skyscraper or maybe a West Coast pension fund office, but also in far less well-trod offices in Paris, Texas and Algoma, Wisconsin. Where other discretionary advisors are too big or too slow to go, they are knocking on the door. These are the guerilla investors, roving in […]

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CalPERS Invests $500M in Small VC/PE Fund

By Cust Serv — 12 years ago

The California Public Employees’ Retirement System (CalPERS) announced that it committed $500 million to Sacramento Private equity Partners, a fund-of-funds focused on venture capital and small middle-market private equity funds. Menlo Park, Calif.-based Oak Hill Investment Management will manage the fund. Charles Valdes, chairman of CalPERS’ Investment Committee, explains in a statement that CalPERS’ is […]

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CalPERS invests locally in Golden State

By Cust Serv — 12 years ago

The California Public Employees’ Retirement System (CalPERS) has made a $400 million commitment to funds-of-funds manager Centinela Capital Partners as part of its effort to invest more capital with emerging managers—particularly thoses that invest in California. Centinela intends to invest with private equity firms active in leveraged buyouts, expansion capital and venture capital. The firm […]

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CalPERS Sets Aside $400M for Emerging Managers

By Lawrence Aragon — 12 years ago

The California Public Employees’ Retirement System (CalPERS) has made a $400 million commitment to funds-of-funds manager Centinela Capital Partners as part of its effort to invest more capital with emerging managers–particularly ones that invest in California. Centinela intends to invest with private equity firms active in leveraged buyouts, expansion capital and venture capital. Expect the […]

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Growth Slows For CalPERS, CalSTRS Posts Gain

By Cust Serv — 13 years ago

Return on investment is up at one giant California pension fund, but it’s down at another. The California Public Employees’ Retirement System earned 12.3% on its investments over the last year, down slightly from the 12.7% it earned during the previous year. CalPERS beat the 7.75% internal rate of return it needs to fulfill its […]

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Pa. SERS Hedges Its Bets

By Cust Serv — 13 years ago

The Pennsylvania State Employees’ Retirement System (PA SERS) is upping its exposure to high-risk, high-return portfolio allocations, hiring new funds of hedge funds. The strategy supplants a more traditional, actively managed equity portfolio. Pa. SERS has hired Arden Asset Management and The Rock Creek Group to manage its international fund of hedge funds. Each firm […]

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CalPERS PE returns exceeds hedge funds investments

By Cust Serv — 13 years ago

The California Public Employees’ Retirement System (CalPERS), the largest US pension fund, has posted a 12.3% return on investments for the one-year period ended June 30, 2006. The fund’s alternative investment management programme, which specialises in private equity and venture capital holdings, earned 19.2% compared with a benchmark of 18.6%, while absolute return strategies garnered […]

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CalPERS and CalSTRS increase exposure

By Cust Serv — 13 years ago

Two of the US’s largest pension funds look likely in the coming months to increase their private equity investments. These are the California Public Employees’ Retirement System (CalPERS), the largest pension fund in the US, and the California State Teachers’ Retirement System (CalSTRS), which ranks second. CalSTRS’s board is due to meet on September 7 […]

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CalPERS boosts California fund

By Cust Serv — 13 years ago

The California Public Employees’ Retirement System last week upped its commitment to the Central Valley Fund to $40 million. Previously, in 2004, it agreed to a $10 million commitment. The Valley Fund, which had closed on $80 million in December, targets companies that are at least five years old, booking $5 million to $50 million […]

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PA SERS ups high-risk exposure

By Cust Serv — 13 years ago

The Pennsylvania State Employees’ Retirement System is upping its exposure to high-risk, high-return portfolio allocations, hiring new funds of hedge funds. The strategy supplants a more traditional, actively managed equity portfolio. PA SERS has hired Arden Asset Management and The Rock Creek Group to manage its international fund of hedge funds. Each firm will oversee […]

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Pa. SERS Unveils Latest Buyout Commitments

By Cust Serv — 13 years ago

The Pennsylvania State Employees’ Retirement System (SERS) held its board meeting at the end of May and approved six more private equity fund allocations totaling $338 million. Half of the fund pledges were follow-on commitments, with the bulk going toward buyout funds. Among the highlights from the meeting, the SERS board approved up to $128 […]

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CalPERS names new CIO, undergoes makeover

By Cust Serv — 13 years ago

The California Public Employees’ Retirement System (CalPERS) named Russell Read as CIO of the $208 billion pension fund. Read succeeds Mark Anson, who departed more than six months ago to join London-based institutional fund manager Hermes Pensions Management. Read was scheduled to assume the post on June 1. At CalPERS, Read will manage the pension […]

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CalPERS considers sale on secondary market

By Cust Serv — 13 years ago

The private equity secondary market is readying itself for what could be a defining moment. One of the private equity world’s most active limited partners, the California Public Employees’ Retirement System (CalPERS), is considering a sell-off of private equity partnerships to the tune of about $3 billion. Such a large amount of assets going on […]

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Calpers says no to Sudan investments

By Cust Serv — 13 years ago

The California Public Employees’ Retirement System won’t be investing in nine companies that do business in Sudan, until that country’s government halts ongoing genocide. The companies that the CalPERS Board of Administration voted not to invest in are Bharat Heavy Electrical Ltd., China Petroleum and Chemical Corp., Nam Fatt Co., Oil & Natural Gas Co., […]

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CalPERS to Diversify

By Cust Serv — 13 years ago

The California Public Employees’ Retirement System will launch a new fund targeted at emerging managers, says Senior Investment Officer Leon Shahinian. He discussed the fund at a joint conference on diversity hosted by CalPERS and the California State Teachers’ Retirement System in San Jose, Calif., last week. The fund’s size has yet to be set […]

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AlpInvest, AXA Back West PE Spin Out

By Cust Serv — 13 years ago

The private equity groups of large financial institutions continue to seek their independence and have a staunch ally in a secondary market that is flush with cash. WestLB‘s London-based private equity arm West Private Equity is the latest captive group to spin out, enlisting the the help of secondary investors AlpInvest Partners and AXA Private […]

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CalPERS Sale Signals Secondary Activity

By Cust Serv — 13 years ago

The private equity secondary market is readying itself for what could be a defining moment. One of the private equity world’s most active limited partners, the California Public Employees’ Retirement System (CalPERS), is considering a sell-off of private equity partnerships to the tune of about $3 billion. Such a large amount of assets going on […]

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