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CalPERS Sets Placement Agent Fee Policy

By Staff Report — 10 years ago

The California Public Employees’ Retirement System on May 11 adopted a policy requiring fund managers to disclose fee data and other information related to the placement agents they employ as part of their efforts to secure pledges from the pension fund. The new guidelines follow recent revelations of alleged kickback schemes at other public pension […]

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NYSCRF Pledges to VC and Overseas F-O-F

By Staff Report — 10 years ago

The $120 billion New York State Common Retirement Fund made two private equity pledges totaling $125 million in March, one to a venture capital firm and the other to a funds-of-funds manger. New York-based DFJ Gotham Ventures received a $25 million commitment for its second fund, which is targeting $125 million. This is a new […]

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NYSCRF Bans Use Of Placement Agents

By Staff Report — 10 years ago

New York State Comptroller Thomas DiNapoli has forbidden the use of placement agents, paid intermediaries and registered lobbyists in investments with the New York State Common Retirement Fund, including flat fees and contingent fees. The ban is a response to charges, including fraud, bribery and money laundering, brought in March and April, involving illegal fees […]

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Florida Maps Out Interest In Distressed, Mezz, Infrastructure

By Staff Report — 10 years ago

The Florida State Board of Administration, which oversees the $97 billion Florida Retirement System, is looking to boost its exposure to distressed debt, mezzanine and infrastructure funds in a big way. The limited partner recently revealed the details of its strategic investments program, which had a total of about $4.5 billion in funded and unfunded […]

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NY Pension Scandal Rocks Market

By Staff Report — 10 years ago

The private equity industry was abuzz last week after hearing that some of its marquee names are enmeshed in a pay-to-play scandal that could damage their firms and impugn an industry that already has a spotty PR record. New York Attorney General Andrew Cuomo brought a slew of charges—including fraud, bribery and money laundering—against David […]

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SF ERS Re-Ups With TA, But Slows Pacing

By Staff Report — 10 years ago

The San Francisco Employees’ Retirement System has drastically slowed its commitment pacing to alternatives but still pledged a total of $40 million to an existing relationship. The limited partner set an investment pace of about $275 million for its calendar-year 2009 alternative investment program, according to Norm Nickens, spokesperson. This is a little more than […]

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NY State Common Retirement Fund To Hire PE Director

By Larry Aragon — 10 years ago

The $155 billion New York State Common Retirement Fund, or NYSCRF, is looking to fill a newly-created position of director of private equity. The person hired will replace Nick Smirensky, who left the deputy CIO and head of private equity investing positions with the limited partner in October to create an investment program for the […]

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RCP Nears Target For Latest Fund Of Funds

By Staff Report — 10 years ago

Chicago-based fund-of-funds manager RCP Advisors has so far closed on $300 million for its sixth vehicle, which has a target of $350 million. The firm is still fundraising and will likely hold a final close for RCP Fund VI LP by the end of April. The firm’s previous vehicle targeted $250 million, but ended up […]

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NJ Rescinds One Pledge, Trims Two Others

By Staff Report — 10 years ago

In light of a shift in strategy dictated by its recently approved 2009 investment plan, the New Jersey State Investment Council has withdrawn a pledge to a sponsor of large European buyouts. It will also lower a pair of commitments to a U.S. mega-fund manager, taking advantage of concessions offered by the general partner. The […]

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CalSTRS Telegraphs Bump In Private Equity Allocation

By Staff Report — 10 years ago

The California State Teachers’ Retirement System could be making more room for private equity within its considerable portfolio. According to board documents, the limited partner will likely expand its target allocation to the asset class to 12 percent from 9 percent, although the formal adoption of new targets won’t take place until July. “The bottom […]

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LACERA Picks Pathway For Mid-Market Buyout Assignment

By Staff Report — 10 years ago

The Los Angeles County Employees Retirement Association has chosen Pathway Capital Management to manage a separate account of $300 million earmarked to commit to middle-market buyout funds over the next three years. Pathway Capital, which has offices in Irvine, Calif., West Warwick, R.I., and London, edged out Hamilton Lane for the assignment. Because no RFP […]

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New Jersey Pledges Total $150M In Pair Of Re-Ups

By Staff Report — 10 years ago

The New Jersey State Investment Council has gone with a pair of re-ups for its latest commitments, authorizing pledges of $50 million commitment to Charterhouse Capital Partners IX LP and $100 million to Onex Partners III LP, according to Thomas Vincz, a spokesperson for the limited partner. Charterhouse Capital, based in London, sponsors management buyouts […]

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CalPERS names CEO, nears CIO pick

By Staff Report — 10 years ago

Stausboll tapped as CEO; is Grady due to become CIO? The California Public Employees’ Retirement System last week named Anne Stausboll as its new chief executive officer, effective Jan. 12. Stausboll will become the first female CEO to lead CalPERS in its 77-year history. She will replace Ken Marzion, who had been serving as interim […]

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HarbourVest Blows Past Goal On Secondary Fund

By Staff Report — 10 years ago

HarbourVest Partners, solidifying its place among the biggest guns of the secondary market, has reached its hard cap of $2.9 billion for Dover Street VII LP, a global secondary vehicle with an original fundraising target of $2 billion. The firm, which launched the fund in May, plans to hold a final close in the first […]

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Adams Street Thinks Time Is Right For Global Secondaries

By Staff Report — 10 years ago

Adams Street Partners is hitting the fundraising circuit with its latest secondary fund, aiming to roughly triple the size of its predecessor. The fundraising goal for Adams Street Partners Global Opportunities Secondary Fund II is $600 million, far bigger than its $210 million predecessor formed in 2004. The Chicago-based firm, one of several fund-of-funds managers […]

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CalPERS To Up PE Allocation Target To 10 Percent In 1Q

By Staff Report — 10 years ago

The California Public Employees’ Retirement System plans to boost its allocation target to alternative investments to 10 percent in the first quarter, part of an effort to better manage its presence in the asset class amid volatility in the public markets. The pension fund also announced additional pledges totaling nearly $800 million. As of Oct. […]

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CalPERS PE stakes under microscope

By Staff Report — 10 years ago

London’s Preqin estimates the LP has sold $2.1B in PE assets in ’07 on the secondary market The California Public Employees’ Retirement System sold $2.1 billion of private equity assets in late 2007 in the secondary market, according to recently released private equity performance data. The data cover fund data through the second quarter of […]

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CalSTRS Selects Independent Evaluators For Proactive PE Program

By Staff Report — 10 years ago

To add another check to its selection process, the California State Teachers’ Retirement System has chosen four firms to serve as independent fiduciaries for its nearly $1 billion Private Equity Proactive Portfolio program, earmarked for fund managers operating in emerging markets in California and elsewhere in the United States. The winners are Credit Suisse Customized […]

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