CalPERS Commits More Money To New Managers

By Lawrence Aragon — 11 years ago

The California Public Employees’ Retirement System continues to look for fresh talent. The $240 billion pension recently committed $150 million to Leading Edge Investment Advisors, a three-year-old San Francisco-based funds-of-funds firm that specializes in backing emerging managers, and $150 milllion to Quotient Investors in New York, a months-old quantitative equity management firm. Both firms tilt […]

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PaSERS Earned Healthy Return In 2007

By Cust Serv — 11 years ago

The Pennsylvania State Employees’ Retirement System raked in more than $5.2 billion on its investment portfolio in 2007, the limited partner announced in late February. The $35 billion pension plan posted a 17.2 percent return, earning it a place among the top 5 percent of large U.S. public pension funds. The median return for large […]

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For CalPERS, Out With Old, In With New

By Cust Serv — 11 years ago

The California Public Employees’ Retirement System this month sold stakes in roughly 60 private equity funds, mainly mid-market buyout funds, whose average age—eight years—put them in the pension fund’s “mature” category. And more CalPERS-owned stakes may be coming onto the market as the pension fund turns more attention to backing new firms. The sell-off by […]

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CalPERS sells stakes in 60 PE funds

By Lawrence Aragon — 11 years ago

CalPERS sells stake for between $1B and $1.5B to a syndicate of five firms The California Public Employees’ Retirement System earlier this month sold stakes in roughly 60 private equity funds, mainly mid-market buyout funds, whose average age—eight years—put them in the pension fund’s “mature” category. And more CalPERS-owned stakes may be coming onto the […]

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Transparency-Loving PSERS May Raise Target

By Cust Serv — 11 years ago

The Pennsylvania Public School Employees’ Retirement System, known for an especially transparent style of investing, and for requiring at least a 5 percent GP commitment in most cases, could soon earmark a sizable new chunk of fresh capital for private equity. Managers of distressed debt, secondary, and international funds will have an especially good shot […]

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Japan’s Largest Pension Taps Hamilton Lane

By Cust Serv — 11 years ago

Hamilton Lane has received a big endorsement from Japan’s largest private-sector pension fund manager. Last week, the 40-year-old Pension Fund Association, which manages roughly $110 billion in assets, revealed that it has hired the Bala Cynwyd, Penn.-based investment advisor to help shape its growing private equity portfolio. Hamilton Lane’s assignment will be to work closely […]

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CalPERS eyes more minority stakes

By Cust Serv — 11 years ago

CalPERS’ stake in Silver Lake may signal more such deals The California Public Employees’ Retirement System isn’t done making minority investments in private equity firms just yet. The deep-pocketed limted partner, with assets of $260 billion, late last year acquired a near 10% stake in Silver Lake Partners for a reported $275 million. Neither CalPERS […]

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New Jersey Builds More Nimble Investment Machine

By Cust Serv — 11 years ago

The New Jersey Division of Investment has earmarked a total of $500 million for three new funds earmarked for investments in Asia and for co-investments alongside general partners. The new funds were created to give the limited partner the ability to put capital to work quickly, and in a more targeted fashion. One vehicle will […]

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CalPERS Advisor Warms To Turnaround Funds

By Cust Serv — 12 years ago

The $247 billion California Public Employees’ Retirement System agreed in December to increase its target allocation to private equity to 10 percent from 6 percent, or from $14.8 billion to $24.7 billion. Great news, but who will benefit? CalPERS isn’t saying just yet, but David Fann, president and CEO of PCG Asset Management LLC, a […]

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Adams Street Cool To Mega-Funds

By Cust Serv — 12 years ago

Adams Street Partners to first-time managers and mega-fund managers: don’t call us, we’ll call you. That seems to be the message from the Chicago-based funds-of-funds manager. Having wrapped up its Global Offering Program at $2.1 billion, and Global Opportunities Portfolio at $390 million in December, the firm is starting to hint at where those funds […]

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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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