Featured Content

CalPERS Pulls VC Support From Four Nations

By Staff Report — 16 years ago

Venture capitalists are getting so picky these days that soon they may have to cater to investors with special demands on where or what type of investments are made. The issue came to the forefront recently when the California Public Employees’ Retirement System (CalPERS) announced plans to pull out of four controversial countries. CalPERS, which […]

Continue

Hamilton Lane: Watch Out For That Bus

By Staff Report — 16 years ago

If you’re trying to raise money from mega fund-of-funds Hamilton Lane, don’t be surprised if you’re asked about bus accidents. “I kind of like to refer to it as the hit-by-the-bus clause,” says Paul Yett, vice president and general manager of venture capital at Hamilton Lane. “The question I ask is: If John Smith gets […]

Continue

CalPERS Commits To Yucaipa Fund

By Staff Report — 17 years ago

The California Public Employees’ Retirement System (CalPERS) has taken its investment strategy to a whole new level. Not only did CalPERS, the largest public employee pension fund with over $140 billion in assets, commit $250 million to Yucaipa American Funds> (YAF) – it also invested $35 million into the holding company to take an undisclosed […]

Continue

CalPERS’ Szente Throws In Towel

By Staff Report — 17 years ago

California Public Employees’ Retirement Fund (CalPERS) Chief Investment Officer Daniel Szente announced last week that he would be stepping down from that post effective November 30. Szente’s decision comes on the heels of a legal battle launched last year by California Controller Kathleen Connell, who wants to cut back compensation for CalPERS’ investment portfolio managers. […]

Continue

CalPERS Invests In Thai VC Fund

By Staff Report — 17 years ago

The California Public Employees’ Retirement System (CalPERS) has carved out a $75 million stake in a $250 million private equity fund that is to target Thai companies with pools of growth and expansion capital. The Thailand Equity Fund, co-sponsored by San Francisco-based Lombard Investments Inc. and the World Bank’s International Finance Corp. (IFC), will invest […]

Continue

CalSTRS Warms Up To Alternatives –

By Staff Report — 17 years ago

The California State Teachers Retirement System (CalSTRS) last month evaluated its asset allocations and made some notable changes in favor of private equity. The $96 billion pension fund decided to increase its allocation to alternative assets to 8% from 4.9%. While some private equity fund raisers, particularly rookies, are having a tough time finding the […]

Continue

CalPERS Injects $10M Into American

By Staff Report — 17 years ago

American River Ventures, one of a handful of new Sacramento, Calif.-based venture firms intent on financing a new generation of regional entrepreneurs, last week received a $10 million jump-start from the California Public Employees Retirement System (CalPERS). CalPERS’ investment is the first institutional commitment toward the first-time fund’s $25 million fund-raising target. Once the firm […]

Continue

As Florida Pension Changes, Will Others Follow?

By Staff Report — 17 years ago

Despite the arrival of spring, there’s a dark cloud hovering over private equity firms that receive commitments from state pension funds. While upcoming changes to the Florida Retirement System could possibly give the group less to invest in alternative assets when they take effect next year, they also mark the start of a slow, steady […]

Continue

CalSTRS Looks To Secondary Market

By Staff Report — 17 years ago

California State Teachers? Retirement System?s board of directors last week eased its investment approval process for the purchase of secondary interests in private equity funds, thus opening the gates for a possible flood of capital into the secondary market. As private equity investors reach target allocations or liquidate their portfolios to cover losses in other […]

Continue

CalPERS Closes $500M PE Vehicle

By Staff Report — 17 years ago

The California Public Employees’ Retirement System (CalPERS) is once again changing the way public pension funds do business. The fund, which manages $170 billion in assets, this month closed its $500 million CalPERS Corporate Partners Fund that was originally announced last June. The fund is a joint venture with Pacific Corporate Group (PCG), a fund […]

Continue

CalPERS Closes Fourth New Vehicle

By Staff Report — 17 years ago

The California Public Employees’ Retirement System (CalPERS) is once again changing the way public pension funds do business. The fund, which manages $170 billion in assets, this month closed its $500 million CalPERS Corporate Partners Fund that was originally announced last June. The fund is a joint initiative with Pacific Corporate Group (PCG), a fund […]

Continue

CalPERS Buys Stakes in Firms

By Staff Report — 18 years ago

The California Public Employees Retirement System (CalPERS) this month reportedly agreed to purchase a minority stake in The Carlyle Group Inc. as part of an agreement to invest up to $850 million with the Washington, D.C.-based private equity firm. In addition, the public pension fund also agreed to purchase a minority stake in Texas Pacific […]

Continue

Washington State Commits to Two PE Funds

By Staff Report — 18 years ago

The Washington State Investment Board this month preliminarily agreed to commit to two private equity funds that will make investments mainly in Europe. Fund managers at Apax Partners & Co. and HarbourVest Partners LLC met with and managed to woo the private market committee, which is a subset of the investment board, to the amount […]

Continue

L.P. Florida Pension Adds Managers

By Staff Report — 18 years ago

After a long hiatus from private equity, the Florida State Board of Administration is taking steps toward getting its investment strategy underway this month by appointing Jim Treanor as portfolio manager and Mike Ireland as assistant portfolio manager. Prior to joining the pension vehicle, Treanor served as regional director of airport affairs at Northwest Airlines […]

Continue

L.P. CalSTRS CIO Resigns Post –

By Staff Report — 18 years ago

Patrick Mitchell, chief investment officer at the California State Teachers’ Retirement System (CalSTRS), last month announced that he is resigning his post effective July 15 to seek other opportunities in investing. “A big imbalance between supply and demand as far as entities like CalSTRS looking for private equity” is one motivation Mitchell found to move […]

Continue

L. P. Florida to Look Overseas in 2000

By Staff Report — 19 years ago

The Florida State Board of Administration’s alternative program, stunted by a period of internal restructuring (BUYOUTS Nov. 22, 1999, p. 4), intends to hire its first international private equity manager and fund of funds manager for a new alternative investments program in the next six to nine months. Additionally, the Board will continue to explore […]

Continue

Oregon State Enters High Tech Buyout Fray

By Staff Report — 19 years ago

Oregon State Treasury is betting big on technology buyouts. The $35 billion pension recently committed $100 million to Thomas Weisel Partners LLC and a total of $350 million to two Texas Pacific Group funds which will jointly target buyouts in the tech sector, among other sectors. Thomas Weisel has set a cap of more than […]

Continue

Hamilton Lane takes back-seat as investors question role

By Staff Report — 19 years ago

Standard Life Investments held an August first close for European Strategic Partners (ESP), the euro1 billion-target fund-of-funds vehicle it launched last November. The format of ESP has been somewhat refined since initial plans for the fund were announced last spring, highlighting the increasingly sophisticated approach investing institutions – particularly in Europe – are bringing to […]

Continue

PE News Briefs