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CalPERS Commits Another $425M To Private Equity

By Cust Serv — 14 years ago

California State Employees’ Retirement System (CalPERS), the $183 billion pension system, continued its investment in to private equity with a series of commitments worth as much as $425 million. In its May 16, Investment Committee meeting, the pension fund made up to $415 million in commitments to five private equity funds. In its investment committee […]

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CalSTRS Plans To Boost Buyouts And Cut VC

By Cust Serv — 14 years ago

Limited partners in private equity have been changing their allocations in the face of a changed and changing market. The latest of the largest private equity LPs to plan a large allocation change is the California State Teachers’ Retirement System (CalSTRS). The retirement system will decide in July on a plan that would see it […]

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CalSTRS Mulling More Buyouts

By Cust Serv — 14 years ago

The California State Teachers’ Retirement System (CalSTRS) is considering a plan to slightly cut back its venture allocation in favor of more buyouts. The pension system’s investment committee will meet in July to consider recommendations that its target allocation for buyout funds be increased from 60% to 70% and that the target allocation for investment […]

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RCP Advisors keeps Chugging Along

By Cust Serv — 14 years ago

RCP Advisors LLC, a fund-of-funds based in Chicago, is continuing to forge ahead. The firm, in the midst of raising its third fund, a $175 million targeted vehicle, recently announced that it has made a commitment to Sentinel Capital Partners latest vehicle, investing alongside AlpInvest, Abbott Capital Management and Pacific Corporate Group. Sentinels new $319 […]

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Oregon Targets Its Own Backyard

By Cust Serv — 14 years ago

Oregon is the latest state to invest money into indigenous or nearby private equity groups with the goal of spurring local business development in its region. The Oregon Investment Counsel initiated the program in September, hiring Credit Suisse First Boston to spearhead the effort, which through the recently formed Oregon Investment Fund will dedicate $100 […]

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CPPIB Ups Its PE Investments

By Cust Serv — 14 years ago

The Great White North is putting more of its green outside of Canada. The CPP Investment Board (CPPIB) announced May 6 that is it committing an additional $1.05 billion to five private equity funds, bringing its total commitment to the asset class to $6.7 billion. * The Toronto-based pension fund committed $257 million to Paris-based […]

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New York Seeks Greater Freedom For PE Investment

By Cust Serv — 14 years ago

The Empire State may be striking back at the laws that govern its pension investment. A bill proposed in the New York State Senate would alter the rules governing pension investment and free the state to, among other things, increase its pensions’ private equity allocations. State Senator Joseph Robach proposed State Senate bill S3894 at […]

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CalPERS Taps Fund Manager, Adds Markets

By Lawrence Aragon — 14 years ago

The California Public Employees’ Retirement System (CalPERS) announced last week that it again picked Santa Monica, Calif.-based Wilshire Associates as the primary pension consultant to its $182 billion fund. This didn’t come as any surprise to the firm. It has served CalPERS in that capacity for the past 22 years. Wilshire is credited with overseeing […]

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NY Seeks More Freedom for PE

By Cust Serv — 14 years ago

The Empire State may be striking back at allocation volatility and the laws that govern its pension investment. A bill recently proposed in the state senate would alter the rules governing pension investment and free the state to increase its pensions’ private equity allocations. For instance, if passed, the bill would eliminate the alternative investment […]

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AlpInvest And Lexington Buy $1.2B DPL Portfolio

By Cust Serv — 14 years ago

It’s lights out for the private equity business at DPL (NASDAQ: DPL) the parent company of Dayton Power & Light Co. The Dayton, Ohio-based energy giant announced earlier this month that it sold its private equity portfolio to AlpInvest Partners and Lexington Partners for approximately $850 million. The portfolio involved contains about $1.2 billion in […]

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CalPERS Exec Warns of Bubble

By Cust Serv — 15 years ago

Mark Anson, chief investment officer for the California Public Employees’ Retirement System (CalPERS), warned last week that the U.S. private equity market could be building toward a bubble. The comments were made during a conference in Geneva, with Anson pointing to a confluence of LBO fund capital overhang, rising interest rates and increased competition from […]

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NJ Pension PE Move Advances

By Cust Serv — 15 years ago

At a time when there is a glut of capital trying to find a home in venture funds, the state of New Jersey is inching closer to adding $9 billion to the alternative asset class. The Garden State’s Investment Council on Jan. 20 approved rules and procedures to establish the Alternative Investment Program. The AIP […]

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HarbourVest, Nova Buy Portfolio

By Cust Serv — 15 years ago

21996; HarbourVest Partners can’t get enough of European cuisine, particularly cheap venture dishes. It recently bought the assets of the West LB Growth Fund from the German investment bank West LB. London’s Nova Capital Management will manage the assets. The firms declined to disclose the price of the deal, but the 15-company portfolio has $75 […]

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CalSTRS Has Small Aspirations

By Cust Serv — 15 years ago

Most limited partners say they target new and emerging funds, but few actually have a plan in place to find these new managers. The California State Teachers’ Retirement System, has put together such a plan, tapping fund-of-funds firm INVESCO Private Capital to coordinate the initiative. For the larger pension plans, investing in these next generation […]

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CalPERS Forced To Disclose Management Fees –

By Cust Serv — 15 years ago

The California State Employees’ Retirement System (CalPERS) last week became the nation’s first public pension system to disclose management fees paid to private equity and venture capital partnerships, following the settlement of a lawsuit brought in September by the California First Amendment Coalition (CFAC). CFAC, a non-profit association of media organizations and related entities, began […]

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CalPERS in Court Again, this Time Over Disclosure of Fees

By Cust Serv — 15 years ago

The California Public Employees’ Retirement System (CalPERS) is getting dragged back into court over its refusal to disclose certain private equity fund investment information. Last Tuesday, the California First Amendment Coalition (CFAC) filed suit in San Francisco Superior Court, requesting that CalPERS be forced “to release all reports showing the amount of fees paid to […]

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CalPERS reduces PE allocation by 1%

By Cust Serv — 15 years ago

The California Public Employees’ Retirement System (CalPERS) Board of Administration has voted to adopt a modest revision to its asset allocation mix that better reflects the system’s current investment holdings in an effort to reduce risk and save on transaction costs. The revised asset allocation mix calls for a 1% increase in both the pension […]

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CalPERS Raises Bar on Hedges

By Cust Serv — 15 years ago

The California Public Employees’ Retirement System (CalPERS) is forging ahead in the risky arena of hedge funds. The nation’s largest pension fund announced this month it would double its hedge fund assets from $1 billion to $2 billion. CalPERS, which began investing in hedge funds four years ago, calls the program a success. “Hedge funds […]

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