CalSTRS Ponders Going Global

By Cust Serv — 16 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 Cust Serv — 16 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 Cust Serv — 16 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 Cust Serv — 16 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 Cust Serv — 16 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 Cust Serv — 16 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 Cust Serv — 16 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 Cust Serv — 16 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 Cust Serv — 16 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 Cust Serv — 16 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 Cust Serv — 16 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 Cust Serv — 16 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 Cust Serv — 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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Yale Campus Hit by VC Disclosure Issues

By Cust Serv — 16 years ago

In a letter filed with the Securities and Exchange Commission last week, Yale University’s employee unions allege that the university violated federal securities law by failing to report its position in some companies controlled or managed by members of its investment committee. While the charges made in the letter focus on a publicly traded Texas […]

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CalPERS Tightens Strategy for Next Year

By Cust Serv — 16 years ago

As the state’s fiscal year draws to a close, the California Public Employees’ Retirement System (CalPERS) is mapping out an investment strategy to carry it through the next fiscal year. When the pension fund’s investment committee meets in Sacramento today, it will outline a plan that calls for few new commitments to private equity funds […]

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CalPERS To Review Entire Portfolio

By Cust Serv — 16 years ago

Now that it has settled the yearlong battle for disclosure, the California Public Employees’ Retirement System (CalPERS) has moved on to other things. It has begun the tedious process of evaluating each of the investments in its $6.9 billion private equity portfolio. Today the Sacramento pension fund’s investment committee will review its California Emerging Ventures […]

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UTIMCO Cleared To Release Fund Data

By Cust Serv — 16 years ago

Texas Attorney General Greg Abbott last week ruled that the University of Texas Investment Management Co. (UTIMCO) must release top-line performance data on funds within its private equity portfolio – whether or not those partnerships signed confidentiality waivers. In doing so, he disagreed with arguments put forth by Atlas Venture and Austin Ventures that such […]

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CalPERs To Disclose Grove Street Data

By Cust Serv — 16 years ago

The California Public Employees’ Retirement System (CalPERS) last Monday put an end to nearly a year of tensions between itself, private equity fund managers and the media. All 12 members of the CalPERS investment board approved a plan to post performance data on all 250 funds in its $6.7 billion private equity portfolio on the […]

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