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CalPERS Cuts Ties With Centinela

By Cust Serv — 7 years ago

The California Public Employees’ Retirement System severed its six-year-old contract with Centinela Capital Partners, a Los Angeles private equity custom account manager that oversaw two emerging manager accounts worth $1 billion, according to Brad Pacheco, a CalPERS spokesman. Earlier this year, Centinela filed a complaint against the $245 billion pension system claiming racial bias in […]

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Joe Dear Leads CalPERS Rebound From $100B Loss

By Cust Serv — 7 years ago

As chief investment officer, Joe Dear oversees $237 billion in assets for the California Public Employees’ Retirement System, the largest and most influential public pension in the United States. More than 1.6 million state workers and retirees look to Dear to make sure their retirement is secure. Dear took the investment reins at CalPERS in […]

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CalPERS Ending $1B In-State Program

By Cust Serv — 7 years ago

The California Public Employees’ Retirement System has decided to wind down its California Initiative, a $1 billion program launched in 2001 to invest in companies that are based in some of the state’s most economically disadvantaged areas. The $237 billion pension said the program, which it plans to phase out over five years, “has not […]

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Fund Performance: European Firms Show Resilience

By Mark Boslet — 7 years ago

European private equity and venture capital performance has remained stable during the downturn, according to recent figures from the European Private Equity and Venture Capital Association (EVCA) and Thomson Reuters (publisher of VCJ). EVCA’s 2011 Performance Report reveals that the net-pooled IRR of the 1,431 funds in the study was 8.95 percent. Returns for venture […]

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LP Scorecard: Turnarounds Do Well For CalPERS

By Cust Serv — 7 years ago

Turnaround and recovery funds of 2001 and 2002 vintage are the money spinners for the California Public Employees’ Retirement System, as of its private equity performance report to Dec. 31. European-headquartered firms such as Permira Advisers, Clessidra Capital Partners, Advent International and CVC Capital Partners also make up almost half of the top 10 performers […]

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Private Equity A Bright Spot For CalPERS, CalSTRS

By Cust Serv — 7 years ago

The nation’s two largest public pension funds eked out paltry overall returns for the fiscal year ending on June 30, 2012, sharply slowing their recoveries from the financial meltdown that lopped off $100 billion in total value from the pensions in fiscal year 2009 alone. But private equity performed well for both. The California Public […]

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Harvard Likes Resources, Euro Debt

By Cust Serv — 7 years ago

Harvard University may increase its natural resource investments as a lucrative way to expand its multibillion-dollar endowment, the head of its investment arm said. “Natural resources are our favorite area,” Jane Mendillo, who oversees the university’s $32 billion endowment as chief executive of Harvard Management Co., told the CNBC Delivering Alpha Conference, sister news service […]

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New CIO Tapped At N.Y. Common, No. 3 Pension: Updated

By Cust Serv — 7 years ago

Vicki Fuller, an executive at Alliance Bernstein, was tapped to be chief investment officer of the $150 billion New York State Common Retirement Fund, the nation’s third largest pension fund. She is due to start on Aug. 30, and her annual salary for running a pool of money larger than the annual output of New […]

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Florida Lays Down $750M For LBOs, Mezz And Secondaries

By Cust Serv — 7 years ago

The Florida State Board of Administration, which manages $158 billion in pension and emergency funds, has committed $750 million to six private equity funds, three of them funds of funds and secondary funds. The series commitments are among the largest made by limited partners so far in 2012. All six commitments were made by Florida’s […]

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Washington Doubles Down On Europe

By Cust Serv — 7 years ago

The $85 billion Washington State Investment Board continued its push into global private equity markets at its June board meeting, contributing $800 million, or $400 million each to two funds, one the latest flagship fund from Advent International and the other from Nordic Capital, which invests mainly in Scandinavia and nearby areas. The two pledges […]

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AlpInvest Funds Hit Hard By 2006 Vintage: CORRECTED

By David M. Toll — 7 years ago

AlpInvest Partners, the funds-of-funds business of The Carlyle Group, has taken a pretty big hit so far from its vintage-2006 investments, according to a regulatory document. Carlyle acquired a 60 percent equity interest in AlpInvest last year as part of the build-up to its initial public offering in May. The unit, which manages more than […]

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New York Common Shows Moderate Gains

By Cust Serv — 7 years ago

The New York State Common Retirement Fund, the nation’s third-largest pension, saw its assets grow 6 percent to $150.3 billion in the 2011-2012 fiscal year, which ended on March 31. The fund’s performance was slightly better than that of the S&P 500, which returned 5.7 percent during the same 12-month period. Private equity, which returned […]

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