Featured Content

CalPERS launches health initiative

By Staff Report — 12 years ago

The California Public Employees’ Retirement Systems last week unveiled a $700 million investment program to invest in U.S. health care companies and to seek ways to improve the health care system, which CalPERS’ CIO Russell Read called “fragmented and inefficient.” Under terms of the deal, CalPERS will initially commit up to $500 million to a […]

Continue

CalPERS seeks co-investment partners for first time

By Staff Report — 12 years ago

Venture capitalists, long accustomed to selling limited partner stakes to California’s largest retirement fund, can now get access to the pension giant’s deep pockets as a co-investor in VC deals. Starting this year, the California Public Employees’ Retirement System (CalPERS) plans to invest directly alongside VCs through a dedicated fund focused on parts of the […]

Continue

LP Profile: Canadian Pension Plan Takes Non-Passive Route

By Staff Report — 12 years ago

The Canadian Pension Plan Investment Board’s stature in private equity has risen at an almost dizzying pace. It made its first investment in a buyout fund just six years ago. But it’s now among the largest global players in the private markets, having committed more than C$7.1 billion ($6.2 billion) in the first three quarters […]

Continue

HarbourVest to raise $5B FoF

By Staff Report — 12 years ago

HarbourVest Partners plans to close on about $5 billion for its eighth, U.S.-focused fund-of-funds some time in the second or third quarter. About $2.5 billion of that will be earmarked for LBO funds, said a person familiar with the fund. The firm split HarbourVest Partners Fund VIII into three selections for its limited partners: buyout, […]

Continue

CalPERS taps PCG to up cleantech exposure

By Staff Report — 12 years ago

The California Public Employees’ Retirement System selected Pacific Corporate Group (PCG) to manage a $400 million cleantech fund and a $400 million emerging market fund. The cleantech program will augment CalPERS’ existing program, which has committed $200 million to seven general partners. The pension fund will be the anchor investor in PCG’s cleantech fund, which […]

Continue

Penn. SERS backs LBOs

By Staff Report — 12 years ago

A long time supporter of LBO funds, the Pennsylvania State Employees Retirement System (Penn. SERS) has selected an international group of funds to which it will commit its latest round of capital, including Bain Capital’s debut Asia fund. In all, the pension fund made nearly $385 million in commitments, of which $259 million went to […]

Continue

HarbourVest To Have $2.5B For U.S. LBO Funds

By Staff Report — 12 years ago

HarbourVest Partners LLC plans to close on about $5 billion for its eighth, U.S.-focussed fund of funds some time in the second or third quarter, and about $2.5 billion of that will be earmarked for LBO funds, said a person familiar with the fund. The firm broke down HarbourVest Partners Fund VIII LP into three […]

Continue

RCP To Target $250M For ’07 Fund Of Funds

By Staff Report — 12 years ago

RCP Advisors is ready to launch its latest fund of funds earmarked for commitments to small and mid-sized buyout funds. The likely target: $250 million, though the firm could well hit $300 million. Following the model of Adams Street Partners, the Chicago-based firm raises a new fund of funds every year. RCP IV closed at […]

Continue

PaSERS, Past Target Allocation, Backs Foreign Funds

By Staff Report — 12 years ago

A long time supporter of LBO funds, Pennsylvania State Employees Retirement System (PaSERS) has selected an international group of funds to which it will commit its latest round of capital, including Bain Capital’s debut Asia fund. This round of commitments to alternatives were: up to €100 million to Apax Europe VII, a follow on investment; […]

Continue

CalSTRS To Study Infrastructure In 2007

By Staff Report — 12 years ago

The California State Teachers’ Retirement System plans to commit about $6 billion to some 15 funds this year and, while re-ups may be the order of the day, the pension fund also has an interest in infrastructure funds, emerging managers, Asian funds and clean energy funds. The pension fund may also look into the possibility […]

Continue

Washington Commits to KKR Asia

By Staff Report — 12 years ago

The Washington State Investment Board yesterday gave preliminary approval for a $500 million commitment to KKR’s first fund focused exclusively on Asian buyouts. WSIB has committed $4.1 billion to KKR since 1982, producing $6.2 billion in realized proceeds and $4.4 billion in profits. The overall relationship’s IRR is 20.2 percent.

Continue

TRS of Texas considers direct investments

By Staff Report — 12 years ago

The Teacher Retirement System of Texas last week was scheduled to discuss a gubernatorial request that it allocate up to $600 million for direct venture capital investments into Texas-based companies and related technology endeavors. If approved, it would rank as the largest venture capital fund based in Texas. TRS currently makes all of its venture […]

Continue

Guerilla Warfare: RCP Stalks The Small Market

By Staff Report — 12 years ago

You can spot them in a New York skyscraper or maybe a West Coast pension fund office, but also in far less well-trod offices in Paris, Texas and Algoma, Wisconsin. Where other discretionary advisors are too big or too slow to go, they are knocking on the door. These are the guerilla investors, roving in […]

Continue

CalPERS Invests $500M in Small VC/PE Fund

By Staff Report — 12 years ago

The California Public Employees’ Retirement System (CalPERS) announced that it committed $500 million to Sacramento Private equity Partners, a fund-of-funds focused on venture capital and small middle-market private equity funds. Menlo Park, Calif.-based Oak Hill Investment Management will manage the fund. Charles Valdes, chairman of CalPERS’ Investment Committee, explains in a statement that CalPERS’ is […]

Continue

CalPERS invests locally in Golden State

By Staff Report — 12 years ago

The California Public Employees’ Retirement System (CalPERS) has made a $400 million commitment to funds-of-funds manager Centinela Capital Partners as part of its effort to invest more capital with emerging managers—particularly thoses that invest in California. Centinela intends to invest with private equity firms active in leveraged buyouts, expansion capital and venture capital. The firm […]

Continue

CalPERS Sets Aside $400M for Emerging Managers

By Lawrence Aragon — 12 years ago

The California Public Employees’ Retirement System (CalPERS) has made a $400 million commitment to funds-of-funds manager Centinela Capital Partners as part of its effort to invest more capital with emerging managers–particularly ones that invest in California. Centinela intends to invest with private equity firms active in leveraged buyouts, expansion capital and venture capital. Expect the […]

Continue

Growth Slows For CalPERS, CalSTRS Posts Gain

By Staff Report — 13 years ago

Return on investment is up at one giant California pension fund, but it’s down at another. The California Public Employees’ Retirement System earned 12.3% on its investments over the last year, down slightly from the 12.7% it earned during the previous year. CalPERS beat the 7.75% internal rate of return it needs to fulfill its […]

Continue

Pa. SERS Hedges Its Bets

By Staff Report — 13 years ago

The Pennsylvania State Employees’ Retirement System (PA SERS) is upping its exposure to high-risk, high-return portfolio allocations, hiring new funds of hedge funds. The strategy supplants a more traditional, actively managed equity portfolio. Pa. SERS has hired Arden Asset Management and The Rock Creek Group to manage its international fund of hedge funds. Each firm […]

Continue