RCP Nearing Close Of $350M Fund of Funds

By Cust Serv — 12 years ago

Small market fund-of-funds investor RCP Advisors as early as this month could hold a $350 million final close on its annual fundraise, its fifth and largest such fund raised to date. The firm had earlier set a hard cap of $325 million. But limited partners agreed to let the firm take in a little extra. […]

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CalPERS May Carve Out New Asset Class

By Cust Serv — 12 years ago

California Public Employees’ Retirement System is contemplating elevating infrastructure, timber, commodities and related inflation-hedging investments to an asset class, potentially freeing up another $1.9 billion for buyout shops backing such deals. The new allocation is not expected to siphon money from more traditional private equity funds. This month the CalPERS investment committee planned to hold […]

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New Jersey forms $105M fund of funds

By Cust Serv — 12 years ago

New Jersey Direct Investment Fund aims to promote Garden State New Jersey may have lost The Sopranos this summer, but it gained a new investment tool aimed at boosting businesses in The Garden State. The state has committed $100 million to the New Jersey Direct Investment Fund (NJDIF), a $105 million fund of funds that […]

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New Jersey Bets On Its Own Businesses

By Cust Serv — 12 years ago

New Jersey may have lost “The Sopranos” this summer, but it gained a new investment tool aimed at boosting businesses in The Garden State. The state has committed $100 million to the New Jersey Direct Investment Fund, a $105 million fund of funds that it launched to satisfy the twin goals of achieving high returns […]

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PaSERS Hits PE Target Allocation, Hires Office Help

By Cust Serv — 12 years ago

The Pennsylvania State Employees’ Retirement System had a busy September, committing some $231 million to seven private equity funds and hiring Credit Suisse Securities Customized Fund Group to help manage its investment office. The commonwealth also has reached its target allocation to private equity, which is to have 14 percent of the $34 billion pension […]

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CalPERS launches health initiative

By Cust Serv — 12 years ago

The California Public Employees’ Retirement Systems last week unveiled a $700 million investment program to invest in U.S. health care companies and to seek ways to improve the health care system, which CalPERS’ CIO Russell Read called “fragmented and inefficient.” Under terms of the deal, CalPERS will initially commit up to $500 million to a […]

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CalPERS seeks co-investment partners for first time

By Cust Serv — 12 years ago

Venture capitalists, long accustomed to selling limited partner stakes to California’s largest retirement fund, can now get access to the pension giant’s deep pockets as a co-investor in VC deals. Starting this year, the California Public Employees’ Retirement System (CalPERS) plans to invest directly alongside VCs through a dedicated fund focused on parts of the […]

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LP Profile: Canadian Pension Plan Takes Non-Passive Route

By Cust Serv — 12 years ago

The Canadian Pension Plan Investment Board’s stature in private equity has risen at an almost dizzying pace. It made its first investment in a buyout fund just six years ago. But it’s now among the largest global players in the private markets, having committed more than C$7.1 billion ($6.2 billion) in the first three quarters […]

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HarbourVest to raise $5B FoF

By Cust Serv — 12 years ago

HarbourVest Partners plans to close on about $5 billion for its eighth, U.S.-focused fund-of-funds some time in the second or third quarter. About $2.5 billion of that will be earmarked for LBO funds, said a person familiar with the fund. The firm split HarbourVest Partners Fund VIII into three selections for its limited partners: buyout, […]

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CalPERS taps PCG to up cleantech exposure

By Cust Serv — 12 years ago

The California Public Employees’ Retirement System selected Pacific Corporate Group (PCG) to manage a $400 million cleantech fund and a $400 million emerging market fund. The cleantech program will augment CalPERS’ existing program, which has committed $200 million to seven general partners. The pension fund will be the anchor investor in PCG’s cleantech fund, which […]

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Penn. SERS backs LBOs

By Cust Serv — 12 years ago

A long time supporter of LBO funds, the Pennsylvania State Employees Retirement System (Penn. SERS) has selected an international group of funds to which it will commit its latest round of capital, including Bain Capital’s debut Asia fund. In all, the pension fund made nearly $385 million in commitments, of which $259 million went to […]

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HarbourVest To Have $2.5B For U.S. LBO Funds

By Cust Serv — 12 years ago

HarbourVest Partners LLC plans to close on about $5 billion for its eighth, U.S.-focussed fund of funds some time in the second or third quarter, and about $2.5 billion of that will be earmarked for LBO funds, said a person familiar with the fund. The firm broke down HarbourVest Partners Fund VIII LP into three […]

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RCP To Target $250M For ’07 Fund Of Funds

By Cust Serv — 12 years ago

RCP Advisors is ready to launch its latest fund of funds earmarked for commitments to small and mid-sized buyout funds. The likely target: $250 million, though the firm could well hit $300 million. Following the model of Adams Street Partners, the Chicago-based firm raises a new fund of funds every year. RCP IV closed at […]

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PaSERS, Past Target Allocation, Backs Foreign Funds

By Cust Serv — 12 years ago

A long time supporter of LBO funds, Pennsylvania State Employees Retirement System (PaSERS) has selected an international group of funds to which it will commit its latest round of capital, including Bain Capital’s debut Asia fund. This round of commitments to alternatives were: up to €100 million to Apax Europe VII, a follow on investment; […]

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CalSTRS To Study Infrastructure In 2007

By Cust Serv — 12 years ago

The California State Teachers’ Retirement System plans to commit about $6 billion to some 15 funds this year and, while re-ups may be the order of the day, the pension fund also has an interest in infrastructure funds, emerging managers, Asian funds and clean energy funds. The pension fund may also look into the possibility […]

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Washington Commits to KKR Asia

By Cust Serv — 12 years ago

The Washington State Investment Board yesterday gave preliminary approval for a $500 million commitment to KKR’s first fund focused exclusively on Asian buyouts. WSIB has committed $4.1 billion to KKR since 1982, producing $6.2 billion in realized proceeds and $4.4 billion in profits. The overall relationship’s IRR is 20.2 percent.

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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 — 13 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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