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CalPERS Invests in 5 New Funds

By Staff Report — 14 years ago

The investment committee of the California Public Employees’ Retirement System (CalPERS) authorized $306 million of new commitments to five private equity funds at its meeting last week in Sacramento, Calif. The pensioner added two buyout funds, a secondaries fund and two international private equity funds. CalPERS invested $200 million in Hellman & Friedman Capital Partners […]

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CalPERS Commits to Pitango

By Staff Report — 14 years ago

Israel’s Pitango Venture Capital closed its fourth fund with $300 million after less than a year of fund-raising. Its close of the fund marks the end of a two-year fund-raising drought in Israel. After a banner year in 2001, when Israeli firms raised $1.3 billion, fund-raising came to an abrupt halt in 2002, when firms […]

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California Teachers Hot for PE

By Staff Report — 14 years ago

For the second year running, the California State Teachers’ Retirement System (CalSTRS) posted gains for its $116 billion investment portfolio, setting a positive tone for the pension fund as it enters a new fiscal year. Overall, the pension fund’s value jumped 17.4% during the 2003-04 fiscal year. As of June 30, its private equity portfolio […]

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CalPERS Loses Hayes To Oak Hill

By Staff Report — 14 years ago

Rick Hayes, an advocate for public LPs, earlier this month tendered his resignation as head of private equity investments for CalPERS to become a managing partner at Oak Hill Capital Management. Hayes could not be reached for comment, but a spokesman for CalPERS, the nation’s largest pension fund, confirmed that Hayes had resigned as senior […]

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CalSTRS Backs Down On Plan

By Staff Report — 15 years ago

Scaling back an ambitious plan to create an international private equity portfolio that reached from the Far East to Latin America, the California State Teachers’ Retirement System’s CalSTRS investment committee last Wednesday opted instead to stay put in Canada, the United Kingdom and Europe and to make new investments in Australia and Japan. According to […]

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CalSTRS to Explore Australia, Japan

By Staff Report — 15 years ago

The California State Teachers’ Retirement System last week scaled back an ambitious plan that would have created an international private equity portfolio that reached from the Far East to Latin America. Consulting firm McKinsey & Co. had recommended that CalSTRS add developed and undeveloped nations in the Middle East, Far East, Latin America and Eastern […]

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CalPERS Private Equity Chief Quits

By Staff Report — 15 years ago

Rick Hayes, an advocate for public limited partners, on Tuesday tendered his resignation as head of private equity investments for CalPERS to become a managing partner at Oak Hill Capital Management. Hayes could not be reached for comment Thursday, but a spokesman for CalPERS, the nation’s largest pension fund, confirmed that Hayes had resigned as senior […]

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CalSTRS Heads Overseas

By Staff Report — 15 years ago

Up to one-fourth of the California State Teachers’ Retirement System’s $1.5 billion private equity portfolio could move abroad, according to a new alternative investment plans adopted by the pension fund last Wednesday. More than half of that allocation will go to international buyout funds and the rest will go to venture capital and debt-related investments. […]

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CalPERS Invests in Two PE Funds

By Staff Report — 15 years ago

Pushing forward on plans to increase the size of its private equity portfolio by $1.35 billion over the next five years, the California Public Employees’ Retirement System (CalPERS) last month made $250 million worth of new commitments to two investment funds. CalPERS invested $125 million in Silver Lake Partners II, a fund managed by Silver […]

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CalSTRS Alters Its PE Strategy

By Staff Report — 15 years ago

Its private equity portfolio was up nearly 19% in 2003. But the California State Teachers’ Retirement System (CalSTRS) is slowly adjusting its investment strategy, as it moves out of international private equity, distressed debt and mezzanine funds and pours a larger percentage of its capital into venture and expansion-stage equity. A semi-annual performance report prepared […]

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CalSTRS Ponders Going Global

By Staff Report — 15 years ago

The California State Teachers’ Retirement System (CalSTRS) has begun to explore private equity investment in regions where it has never gone before-Asia, Eastern Europe and Latin America. If the pension fund adopts a plan that was proposed by consultants McKinsey & Co., its $5.2 billion private equity program could span the globe. The nation’s third […]

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Hamilton Lane Changes Structure, Takes Fast Lane To Consolidation –

By Staff Report — 15 years ago

Hamilton Lane Advisors sold 40% of the company to outside investors last month, with an eye toward future industry consolidation. Hartley Rogers, former co-head of Credit Suisse First Boston’s U.S. private equity department, led the purchasing syndicate and will become Hamilton Lane’s new vice chairman. The Bala Cynwyd, Pa.-based gatekeeper began entertaining investment offers in […]

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LACERA Ups Its PE Allocation

By Staff Report — 15 years ago

The Los Angeles County Employees Retirement Association (LACERA) will up its private equity investments by $600 million, almost tripling its investments in the asset class, according to a new plan adopted by the pension fund’s investment committee last week. LACERA currently has $370 million, or 5.2% of its assets, in alternative investments, a class that […]

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CalPERS Reviews Privatization

By Staff Report — 15 years ago

Responding to concerns from union members that it was investing in companies that privatize their public sector jobs, the California Public Employees’ Retirement System’s (CalPERS’) investment committee will consider a policy that would restrict its ability to invest with private equity funds that finance those privatizers. After a brief discussion in mid-November in San Diego, […]

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HarbourVest and UBS Seal Deal

By Staff Report — 15 years ago

Private equity firm HarbourVest Partners has sealed the long-rumored deal with UBS for a significant share of its private equity portfolio. The deal nets HarbourVest 52 limited partner interests in both venture capital and buyout funds. The commitments that UBS made in the portfolio total $1.3 billion. UBS started an auction process for the deal […]

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HarbourVest Mum on Rumored $1B Deal

By Staff Report — 15 years ago

Boston-based HarbourVest Partners announced the promotion of 11 investment professionals in its primary and secondary investment teams as the private equity firm is seeing an increase in secondary deal flow this year. Meanwhile, reports are circulating that the firm is poised to close a large secondary deal potentially valued at up to $1 billion. HarbourVest […]

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Pennsylvania to Pass VC Program

By Staff Report — 15 years ago

Though it’s currently caught up in the traditional political morass of passing the state’s budget, the government of Pennsylvania is likely to approve a compromise version of a $250 million program to encourage venture capital investment in the state. Initially, Pennsylvania Gov. Edward Rendell proposed a plan to raise $250 million in bonds for a […]

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