Texas LP Commits $200M To Oaktree Funds

By Cust Serv — 9 years ago

The Teacher Retirement System of Texas recently committed a total of $200 million to two investment vehicles managed by distressed debt specialist Oaktree Capital Management, marking the limited partner’s first private equity pledges of the year, a spokesperson told Buyouts. The amount will be evenly divided between Oaktree Opportunities Fund VIII LP and its sidecar […]

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Distributions Picking Up, N.J. To Start Pledging Again

By Cust Serv — 9 years ago

The New Jersey State Investment Council, which manages $67 billion for the state’s pension funds, will likely pledge $700 million to $1 billion to private equity over the next 12 to 15 months, said Head of Private Equity Christine Pastore at a recent conference. The state has not made a commitment since November 2008. New […]

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Adams Street Partners Report Card

By David M. Toll — 9 years ago

It’s gotten harder to hide in private equity. It’s especially so for firms that, like funds-of-funds manager Adams Street Partners, manage public pension money. The early 2000s saw journalists, unions and students launch a major push to pull back the curtains on private equity performance, part of a transparency movement that took hold in the […]

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CalPERS Looking To Win More Buyout Fee Cuts

By Cust Serv — 9 years ago

The California Public Employees’ Retirement System, the biggest U.S. public pension fund, hopes to win fee cuts from other private equity firms following a deal it struck with Apollo Management to slice up to $125 million off fees, its Chief Investment Officer said on April 26. Pension funds and other investors have been able to […]

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HarbourVest Listed Vehicle Seeks Out U.K. Traders

By Cust Serv — 9 years ago

HarbourVest Global Private Equity, a listed funds-of-funds vehicle managed by Boston-based HarbourVest Partners LLC, is targeting U.K.-based investors with a secondary offering on London’s Specialist Fund Market. The aim of the secondary offering, which involves the sale of shares from old shareholders to new ones, is to boost liquidity in the shares, diversify the shareholder […]

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SF Commits To Australia, Media Funds

By Cust Serv — 10 years ago

The San Francisco Employees’ Retirement System recently approved nearly $60 million worth of private equity commitments to an Australian buyout fund and a media equity fund, among others, in an effort to meet its target allocation to the asset class. A commitment of up to A$20 million ($18.4 million) went to CHAMP Private Equity’s latest […]

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Yale’s Swensen Ups Bet On Private Equity, Commodities

By Cust Serv — 10 years ago

Yale University Chief Investment Officer David Swensen‘s losses on big bets in private equity, real estate and commodities have apparently not deterred the noted contrarian. Yale disclosed on March 18 that it had increased significantly its allocations to those sometimes risky and illiquid asset classes at the end of its last fiscal year in June […]

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New York Pledges To Emerging Managers And Asia

By Lawrence Aragon — 10 years ago

The $126 billion New York State Common Retirement Fund recently announced four pledges made in December totaling $160 million, three to emerging managers and one to a firm investing in China and India. Bunker Hill Capital received a $25 million pledge for Bunker Hill Capital II through the Pioneer Partnership Fund B, which is part […]

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Pennsylvania Fires Up Power Pledge

By Cust Serv — 10 years ago

The Pennsylvania State Employees’ Retirement System recently pledged up to $25 million to Oaktree Power Opportunities Fund III, earmarked for controlling equity investments in companies that provide equipment, software and services aiding in the generation, transmission, distribution, marketing, trading and consumption of power. Oaktree Capital Management, Los Angeles, is seeking $800 million for the fund, […]

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NY State Pledges To Clearlake Capital, DeltaPoint Capital

By Lawrence Aragon — 10 years ago

The $126 billion New York State Common Retirement Fund recently announced two pledges made in November totaling $40 million, one to an emerging manager, another to a firm investing largely in the Northeast. Clearlake Capital Group’s Clearlake Capital Partners II received a $15 million commitment through the NYSCRF Pioneer Partnership Fund – A, part of […]

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Firms Paid $125M In Fees For CalPERS Business

By Cust Serv — 10 years ago

Investment firms paid placement agents more than $125 million in fees to win business with the California Public Employees’ Retirement System, including nearly $59 million to a firm led by a former board member of the pension fund, CalPERS said on Jan. 14. The biggest U.S. public pension fund, reporting the findings of its review […]

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CalPERS Looks To Lower Fees Paid To PE Firms

By Cust Serv — 10 years ago

The $198 billion California Public Employees’ Retirement System said in mid-December that it is exploring ways to cut expenses, such as by negotiating reduced fees with private equity firms, even as the asset class continued to provide the nation’s largest pension fund with a respectable return over the long haul. Although declines in real estate […]

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Pa. SERS Pleased By PE, Lowers Target Anyway

By Cust Serv — 10 years ago

The Pennsylvania State Employees’ Retirement System, though happy with the recent return generated by its private equity portfolio, said that due to a strategic shift into fixed income investments, the private equity target allocation will be reduced from 14 percent to 12 percent. That its actual allocation stands at 22 percent suggests the pension fund […]

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NY Pledges To Clean Energy Fund

By Cust Serv — 10 years ago

The New York State Common Retirement Fund has committed $100 million to Hudson Clean Energy Partners‘s inaugural fund as part of its Green Strategic Investment Program. This is a new relationship for the pension fund, which made the pledge on Oct. 30. Hudson Clean Energy Partners recently closed its first fund, Hudson Clean Energy Partners […]

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Florida May Buy Stake In PE Firm

By Cust Serv — 10 years ago

The Florida State Board of Administration may steal a page from another big state institution’s playbook by making an investment directly in a private equity firm. It has hired an adviser to vet just such a proposal. The state has engaged advisory firm Evercore Partners to perform due diligence and a valuation work regarding the […]

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Texas Teachers to commit $2.5B to PE

By Lawrence Aragon — 10 years ago

TRS of Texas likely to go after FoFs The $82 billion Teacher Retirement System of Texas intends to commit roughly $2.5 billion to private equity in the coming year and much of that will be channeled through funds-of-funds. The limited partner has not yet finalized which sub-strategies it will target, but one recent pledge of […]

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CalPERS launches placement agent probe

By Reuters News — 10 years ago

At issue is $50M in payments by Apollo and other firms The California Public Employees’ Retirement System announced last week that it is probing fees paid by outside money managers to win its business, expanding a review of “pay-to-play” schemes at public retirement systems that has spread nationwide. The $200 billion state pension fund said […]

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RCP launches FoF

By Cust Serv — 10 years ago

Seventh fund is targeted at $300M Chicago-based fund-of-funds manager RCP Advisors has launched its seventh vehicle, RCP Fund VII, with a $300 million target. Fund VI closed in May with $289 million in commitments, below its $350 million target. RCP Advisors specializes on investments in small to mid-market U.S. buyout funds. Typical funds the firm […]

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