CalSTRS to Explore Australia, Japan

By Staff Report — 15 years ago

The California State Teachers’ Retirement System last week scaled back an ambitious plan that would have created an international private equity portfolio that reached from the Far East to Latin America. Consulting firm McKinsey & Co. had recommended that CalSTRS add developed and undeveloped nations in the Middle East, Far East, Latin America and Eastern […]

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CalSTRS Heads Overseas

By Staff Report — 15 years ago

Up to one-fourth of the California State Teachers’ Retirement System’s $1.5 billion private equity portfolio could move abroad, according to a new alternative investment plans adopted by the pension fund last Wednesday. More than half of that allocation will go to international buyout funds and the rest will go to venture capital and debt-related investments. […]

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CalPERS Invests in Two PE Funds

By Staff Report — 15 years ago

Pushing forward on plans to increase the size of its private equity portfolio by $1.35 billion over the next five years, the California Public Employees’ Retirement System (CalPERS) last month made $250 million worth of new commitments to two investment funds. CalPERS invested $125 million in Silver Lake Partners II, a fund managed by Silver […]

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CalSTRS Alters Its PE Strategy

By Staff Report — 15 years ago

Its private equity portfolio was up nearly 19% in 2003. But the California State Teachers’ Retirement System (CalSTRS) is slowly adjusting its investment strategy, as it moves out of international private equity, distressed debt and mezzanine funds and pours a larger percentage of its capital into venture and expansion-stage equity. A semi-annual performance report prepared […]

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CalSTRS Ponders Going Global

By Staff Report — 15 years ago

The California State Teachers’ Retirement System (CalSTRS) has begun to explore private equity investment in regions where it has never gone before-Asia, Eastern Europe and Latin America. If the pension fund adopts a plan that was proposed by consultants McKinsey & Co., its $5.2 billion private equity program could span the globe. The nation’s third […]

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Hamilton Lane Changes Structure, Takes Fast Lane To Consolidation –

By Staff Report — 15 years ago

Hamilton Lane Advisors sold 40% of the company to outside investors last month, with an eye toward future industry consolidation. Hartley Rogers, former co-head of Credit Suisse First Boston’s U.S. private equity department, led the purchasing syndicate and will become Hamilton Lane’s new vice chairman. The Bala Cynwyd, Pa.-based gatekeeper began entertaining investment offers in […]

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LACERA Ups Its PE Allocation

By Staff Report — 15 years ago

The Los Angeles County Employees Retirement Association (LACERA) will up its private equity investments by $600 million, almost tripling its investments in the asset class, according to a new plan adopted by the pension fund’s investment committee last week. LACERA currently has $370 million, or 5.2% of its assets, in alternative investments, a class that […]

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CalPERS Reviews Privatization

By Staff Report — 15 years ago

Responding to concerns from union members that it was investing in companies that privatize their public sector jobs, the California Public Employees’ Retirement System’s (CalPERS’) investment committee will consider a policy that would restrict its ability to invest with private equity funds that finance those privatizers. After a brief discussion in mid-November in San Diego, […]

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HarbourVest and UBS Seal Deal

By Staff Report — 15 years ago

Private equity firm HarbourVest Partners has sealed the long-rumored deal with UBS for a significant share of its private equity portfolio. The deal nets HarbourVest 52 limited partner interests in both venture capital and buyout funds. The commitments that UBS made in the portfolio total $1.3 billion. UBS started an auction process for the deal […]

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HarbourVest Mum on Rumored $1B Deal

By Staff Report — 15 years ago

Boston-based HarbourVest Partners announced the promotion of 11 investment professionals in its primary and secondary investment teams as the private equity firm is seeing an increase in secondary deal flow this year. Meanwhile, reports are circulating that the firm is poised to close a large secondary deal potentially valued at up to $1 billion. HarbourVest […]

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Pennsylvania to Pass VC Program

By Staff Report — 15 years ago

Though it’s currently caught up in the traditional political morass of passing the state’s budget, the government of Pennsylvania is likely to approve a compromise version of a $250 million program to encourage venture capital investment in the state. Initially, Pennsylvania Gov. Edward Rendell proposed a plan to raise $250 million in bonds for a […]

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CalSTRS Modifies Target Allocation –

By Staff Report — 15 years ago

The California State Teachers’ Retirement System (CalSTRS) will slow the pace of its ambitious private equity program that was just approved by the fund’s investment committee in July. CalSTRS now plans to nearly double the size of its $4.7 billion private equity program over the next five years, committing up to $8.7 billion to buyout […]

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CalPERS Ponders Divisive Policy

By Staff Report — 15 years ago

Concerned that private contractors are pushing public sector employees out of a job, the California Public Employees’ Retirement System (CalPERS) is considering a new investment policy that would bar it from investing with firms that back those companies. The new policy might effect future investments in companies that privatize education, health care, prisons and other […]

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New Jersey Battles Over Fund Management

By Staff Report — 15 years ago

Two sides in the Garden State are squaring off in a battle over possible plans to hand over investment management of the state’s $62 billion pension funds. Both sides are flexing their muscles as they position for advantage in anticipation of a report to be issued by an outside auditor. State officials say privatization reforms […]

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Canada Pension Ups PE Stake by $391M

By Staff Report — 15 years ago

Continuing its aggressive push into private equity, the Canada Pension Plan Investment Board (CPPIB) has invested nearly $400 million in five PE funds. Most will be put to work in buyouts, with the rest going to late-stage venture capital and secondary funds. Toronto-based CPPIB is an independent firm that invests on behalf of the Canada […]

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Canada Pension Ups PE Stake by $391M

By Staff Report — 15 years ago

Continuing its aggressive push into private equity, the Canada Pension Plan Investment Board (CPPIB) has invested nearly $400 million in five PE funds. Most will be put to work in buyouts, with the rest going to late-stage venture capital and secondary funds. Toronto-based CPPIB is an independent firm that invests on behalf of the Canada […]

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CalSTRS Looks For More Equity

By Staff Report — 16 years ago

The California State Teachers’ Retirement System (CalSTRS) plans to nearly double the size of its private equity portfolio over the next four years. The Sacramento-based pension fund expects to have invested up to $8.7 billion in buyout and venture capital funds by 2007, according to a new business plan adopted by the retirement system earlier […]

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