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CalPERS loses CIO

By Staff Report — 11 years ago

Russell Read, the chief investment officer for the California Public Employees’ Retirement System (CalPERS), has resigned to pursue his long-standing interest in environmental and cleantech investing. George Diehr, investment committee chair for CalPERS, said: “We wish Russell well in the next chapter of his professional career. He has great enthusiasm for environmental and clean technology […]

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Washington commits $850M, with plenty to spare

By Staff Report — 11 years ago

Washington State Investment Board remains a robust player in private equity The Washington State Investment Board earlier this month moved closer to its new and comparatively aggressive private equity target allocation of 25 percent. The state pension committed $250 million across four funds, two that are sector specific, one of which represents an emerging markets […]

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CalSTRS bullish on PE

By Staff Report — 11 years ago

California State Teachers’ Retirement System raises its long-term PE target to an aggressive 9% In the fall of 2006, the California State Teachers’ Retirement System (CalSTRS) raised its long-term private equity target to an aggressive 9%, up from 6 percent. The state pension fund figured that it would take up to five years to get […]

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New Jersey Buys Stake In AnaCap Financial

By Staff Report — 11 years ago

The New Jersey State Investment Council has taken its first minority stake in the management company of a private equity firm—a 5 percent ownership stake in AnaCap Financial Partners, a London-based firm that acquires mid-sized European financial services firms. “Many of the businesses targeted by AnaCap are characterized by underlying assets with predictable and/or annuity-like […]

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PSERS Commits Max To Philly Shop’s Third Fund

By Staff Report — 11 years ago

The Pennsylvania Public School Employees Retirement System is in talks with LLR Partners to commit 25 percent of the Philadelphia-based buyout shop’s latest fund, sources told Buyouts. That is the maximum PSERS is allowed to commit to a single fund. LLR Partners is targeting $600 million for its third fund, a hefty increase from its […]

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CalSTRS Passes 9 Percent Target To Private Equity

By Staff Report — 11 years ago

In the fall of 2006, the California State Teachers’ Retirement System raised its long-term private equity target to an aggressive 9 percent, up from 6 percent. The pension fund figured that it would take up to five years to get there. Two years would have been a better guess. According to data distributed at its […]

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New Jersey hungry for GP ownership stakes

By Staff Report — 11 years ago

New Jersey Division of Investment is tinkering with notion of buying ownership stakes in management companies The New Jersey Division of Investment hopes to join the small club of large investors that have purchased ownership stakes in the management companies of private equity firms. The $78 billion limited partner is in discussions with a handful […]

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New York Backs Mid-Market And Global Funds

By Staff Report — 11 years ago

The $155 billion New York State Common Retirement Fund last week announced $145 million in new commitments across three firms, with $100 million going to CVC Equity Partners Asia Pacific III, $35 million to mid-market buyout fund Palladium Equity Partners III and $10 million to Carmel Ventures III. Since the pension began releasing its commitment […]

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California Pensions Battle Fund Restrictions

By Staff Report — 11 years ago

The nation’s two largest backers of private equity firms are fighting back against a state legislative proposal that threatens to restrict their ability to invest in brand-name mega-funds. The California State Teachers’ Retirement System went on the offensive earlier this month, voicing its opposition to a bill that would bar state-run pension funds from backing […]

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CalPERS Commits More Money To New Managers

By Larry Aragon — 11 years ago

The California Public Employees’ Retirement System continues to look for fresh talent. The $240 billion pension recently committed $150 million to Leading Edge Investment Advisors, a three-year-old San Francisco-based funds-of-funds firm that specializes in backing emerging managers, and $150 milllion to Quotient Investors in New York, a months-old quantitative equity management firm. Both firms tilt […]

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PaSERS Earned Healthy Return In 2007

By Staff Report — 11 years ago

The Pennsylvania State Employees’ Retirement System raked in more than $5.2 billion on its investment portfolio in 2007, the limited partner announced in late February. The $35 billion pension plan posted a 17.2 percent return, earning it a place among the top 5 percent of large U.S. public pension funds. The median return for large […]

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For CalPERS, Out With Old, In With New

By Staff Report — 11 years ago

The California Public Employees’ Retirement System this month sold stakes in roughly 60 private equity funds, mainly mid-market buyout funds, whose average age—eight years—put them in the pension fund’s “mature” category. And more CalPERS-owned stakes may be coming onto the market as the pension fund turns more attention to backing new firms. The sell-off by […]

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CalPERS sells stakes in 60 PE funds

By Larry Aragon — 11 years ago

CalPERS sells stake for between $1B and $1.5B to a syndicate of five firms The California Public Employees’ Retirement System earlier this month sold stakes in roughly 60 private equity funds, mainly mid-market buyout funds, whose average age—eight years—put them in the pension fund’s “mature” category. And more CalPERS-owned stakes may be coming onto the […]

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Transparency-Loving PSERS May Raise Target

By Staff Report — 11 years ago

The Pennsylvania Public School Employees’ Retirement System, known for an especially transparent style of investing, and for requiring at least a 5 percent GP commitment in most cases, could soon earmark a sizable new chunk of fresh capital for private equity. Managers of distressed debt, secondary, and international funds will have an especially good shot […]

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Japan’s Largest Pension Taps Hamilton Lane

By Staff Report — 11 years ago

Hamilton Lane has received a big endorsement from Japan’s largest private-sector pension fund manager. Last week, the 40-year-old Pension Fund Association, which manages roughly $110 billion in assets, revealed that it has hired the Bala Cynwyd, Penn.-based investment advisor to help shape its growing private equity portfolio. Hamilton Lane’s assignment will be to work closely […]

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CalPERS eyes more minority stakes

By Staff Report — 11 years ago

CalPERS’ stake in Silver Lake may signal more such deals The California Public Employees’ Retirement System isn’t done making minority investments in private equity firms just yet. The deep-pocketed limted partner, with assets of $260 billion, late last year acquired a near 10% stake in Silver Lake Partners for a reported $275 million. Neither CalPERS […]

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New Jersey Builds More Nimble Investment Machine

By Staff Report — 11 years ago

The New Jersey Division of Investment has earmarked a total of $500 million for three new funds earmarked for investments in Asia and for co-investments alongside general partners. The new funds were created to give the limited partner the ability to put capital to work quickly, and in a more targeted fashion. One vehicle will […]

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CalPERS buys 10% stake in Silver Lake

By Staff Report — 11 years ago

Silver Lake Partners sells a minority stake to CalPERS, the nation’s largest pension fund, for a reported $250M The California Public Employees’ Retirement System last week announced that it has agreed to acquire a 9.9% ownership position in tech-focused private equity firm Silver Lake Partners. No financial terms were disclosed, although the New York Times […]

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