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Washington State Goes Deep With Energy, Mining GPs

By Cust Serv — 7 years ago

The $84 billion Washington State Investment Board has committed $550 million to two buyout firms that focus on the energy and mining sectors. The larger of the two commitments was a $400 million pledge to the newest fund from First Reserve Corp., First Reserve Fund XIII LP, which is targeting $6 billion. The pledge matches […]

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Canadian Pension Bets Big On Motor Sports

By Reuters News — 7 years ago

Canada Pension Plan Investment Board, one of the country’s top pension fund managers, on Friday outlined two major investments in the world of professional motor racing, according to sister news service Reuters. CPPIB, known for staid investments in infrastructure projects, shopping centres, private equity firms and the like, said it had stuck a deal to […]

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LP Scorecard: CalPERS Funds of Funds Produce Top Performers

By Cust Serv — 7 years ago

The underlying investments in funds of funds backed by CalPERS’s account for two of the top IRRs of its entire portfolio. These are California Emerging Ventures’s commitments to the 1999 vintage Clearstone Venture Partners I-B LP, which posted an IRR of 154.7 percent and a vintage fund that is some 12 years younger—the 2011 Monomoy […]

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LP Scorecard: Carlyle Japan A Top Asian Fund For CalPERS

By Cust Serv — 7 years ago

Carlyle Japan Partners I LP, a 2001 vintage buyout fund, is the star performer among Asia funds backed by the $243 billion California Public Employees’ Retirement System’s, according to data as of March 31, 2012. Prominent exited investments from that fund include security service company Asahi Security, acquired by The Carlyle Group in February 2002; […]

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Texas Teachers To buy F1 Stake From Lehman Estate

By Cust Serv — 7 years ago

The $100 billion Texas Teachers’ pension fund is to buy a stake in Formula One racing from the estate of collapsed investment bank Lehman Brothers, a person familiar with the matter said. The Teacher Retirement System of Texas will buy a 3 percent stake in the motor racing business from the Lehman Brothers’ estate in […]

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Colorado PERA Latest To Launch In-State PE Fund

By Cust Serv — 7 years ago

Another state pension system has moved to bolster in-state economic activity by launching a special fund to target private equity and venture investments within the state’s boundaries. The latest effort is from the $40 billion Colorado Public Employees Retirement Association, which launched the Colorado Mile High Fund in October. The fund, which is likely to […]

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CalPERS Taps CFO To Guard Against Risks

By Cust Serv — 7 years ago

With the appointment of Cheryl Eason as its new chief financial officer, the $243 billion California Public Employees Retirement System has installed a final brick in its efforts to fortify the giant pension against risks such as financial crises and pay-to-play scandals. Eason is the first person to occupy the chief financial officer role at […]

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European Funds Among Washington State’s Least Drawn

By Bernard Vaughan — 7 years ago

For the last few years now there’s been a lot of talk about how much committed capital buyout firms have at their disposal. The Private Equity Growth Capital Council, for example, puts the number for this so-called global dry powder at $372 billion, excluding leverage. But what does this mean for individual limited partners? To […]

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Florida Pledges $700M To PE, Infrastructure

By Cust Serv — 7 years ago

The Florida State Board of Administration, which oversees $154 billion in pension and emergency funds, committed $700 million to five private equity, infrastructure and opportunistic debt funds during the third quarter of 2012, according to spokesman John Kuczwanski. Overall, Florida has 5.2 percent, or $6.5 billion, of its main pension’s assets in invested private equity […]

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CPPIB Takes Out Onex For Tomkins Unit

By Reuters News — 7 years ago

The Canada Pension Plan Investment Board has agreed to pay $1.1 billion for the heating and air conditioning business of Tomkins Ltd, a British-based industrial holdings company jointly owned by CPPIB and Onex Corp. Canadian private equity firm Onex and CPPIB, which manages one of the world’s largest pension funds, acquired Tomkins in 2010, and […]

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Washington State Pledges $1.3B to PE, Infrastructure Funds

By Cust Serv — 7 years ago

In one of the largest series of commitments this year, the $84 billion Washington State Investment Board pledged $750 million to private equity funds and another $500 million to infrastructure funds, one of the fastest-growing asset classes among pension investors. Like many big pensions, Washington has been moving larger amounts of money to fewer managers […]

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Oregon Taps Skjervem As New CIO

By Cust Serv — 7 years ago

After a year-long search, Oregon’s Treasury named John Skjervem as the chief investment officer for the state’s main pension funds, which collectively manage $74 billion in assets. Skjervem replaces Ronald Schmitz, who announced last September that he was leaving to be the chief investment officer for the $53 billion Virginia Retirement System. Skjervem will start […]

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Hamilton Lane Wins Nevada’s In-State Fund Of Funds Mandate

By Cust Serv — 7 years ago

The Nevada Capital Investment Corp., a non-profit board tasked with investing in Nevada-based businesses, announced that it has chosen Hamilton Lane, a private equity management and advisory firm, to oversee the $50 million Silver State Opportunity Fund, which is part of the Nevada Permanent School Fund, an endowment dedicated to K-12 education. Because of the […]

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CalSTRS Commits $1B+ To 8 Funds

By Cust Serv — 7 years ago

America’s second-largest public pension, the $152 billion California State Teachers’ Retirement System, committed more than $1 billion to a bevy of private equity and debt-related funds in the second and third quarters, according to the pension’s semi-annual private equity report, which was presented to the pension’s board in early September. Three commitments each topped $200 […]

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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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