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NJ Rescinds One Pledge, Trims Two Others

By Cust Serv — 10 years ago

In light of a shift in strategy dictated by its recently approved 2009 investment plan, the New Jersey State Investment Council has withdrawn a pledge to a sponsor of large European buyouts. It will also lower a pair of commitments to a U.S. mega-fund manager, taking advantage of concessions offered by the general partner. The […]

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CalSTRS Telegraphs Bump In Private Equity Allocation

By Cust Serv — 10 years ago

The California State Teachers’ Retirement System could be making more room for private equity within its considerable portfolio. According to board documents, the limited partner will likely expand its target allocation to the asset class to 12 percent from 9 percent, although the formal adoption of new targets won’t take place until July. “The bottom […]

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LACERA Picks Pathway For Mid-Market Buyout Assignment

By Cust Serv — 10 years ago

The Los Angeles County Employees Retirement Association has chosen Pathway Capital Management to manage a separate account of $300 million earmarked to commit to middle-market buyout funds over the next three years. Pathway Capital, which has offices in Irvine, Calif., West Warwick, R.I., and London, edged out Hamilton Lane for the assignment. Because no RFP […]

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New Jersey Pledges Total $150M In Pair Of Re-Ups

By Cust Serv — 10 years ago

The New Jersey State Investment Council has gone with a pair of re-ups for its latest commitments, authorizing pledges of $50 million commitment to Charterhouse Capital Partners IX LP and $100 million to Onex Partners III LP, according to Thomas Vincz, a spokesperson for the limited partner. Charterhouse Capital, based in London, sponsors management buyouts […]

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CalPERS names CEO, nears CIO pick

By Cust Serv — 11 years ago

Stausboll tapped as CEO; is Grady due to become CIO? The California Public Employees’ Retirement System last week named Anne Stausboll as its new chief executive officer, effective Jan. 12. Stausboll will become the first female CEO to lead CalPERS in its 77-year history. She will replace Ken Marzion, who had been serving as interim […]

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HarbourVest Blows Past Goal On Secondary Fund

By Cust Serv — 11 years ago

HarbourVest Partners, solidifying its place among the biggest guns of the secondary market, has reached its hard cap of $2.9 billion for Dover Street VII LP, a global secondary vehicle with an original fundraising target of $2 billion. The firm, which launched the fund in May, plans to hold a final close in the first […]

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Adams Street Thinks Time Is Right For Global Secondaries

By Cust Serv — 11 years ago

Adams Street Partners is hitting the fundraising circuit with its latest secondary fund, aiming to roughly triple the size of its predecessor. The fundraising goal for Adams Street Partners Global Opportunities Secondary Fund II is $600 million, far bigger than its $210 million predecessor formed in 2004. The Chicago-based firm, one of several fund-of-funds managers […]

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CalPERS To Up PE Allocation Target To 10 Percent In 1Q

By Cust Serv — 11 years ago

The California Public Employees’ Retirement System plans to boost its allocation target to alternative investments to 10 percent in the first quarter, part of an effort to better manage its presence in the asset class amid volatility in the public markets. The pension fund also announced additional pledges totaling nearly $800 million. As of Oct. […]

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CalPERS PE stakes under microscope

By Cust Serv — 11 years ago

London’s Preqin estimates the LP has sold $2.1B in PE assets in ’07 on the secondary market The California Public Employees’ Retirement System sold $2.1 billion of private equity assets in late 2007 in the secondary market, according to recently released private equity performance data. The data cover fund data through the second quarter of […]

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CalSTRS Selects Independent Evaluators For Proactive PE Program

By Cust Serv — 11 years ago

To add another check to its selection process, the California State Teachers’ Retirement System has chosen four firms to serve as independent fiduciaries for its nearly $1 billion Private Equity Proactive Portfolio program, earmarked for fund managers operating in emerging markets in California and elsewhere in the United States. The winners are Credit Suisse Customized […]

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CalPERS juggles capital calls

By Cust Serv — 11 years ago

CalPERS hopes to stagger capital calls in down market The nation’s largest pension fund, the California Public Employees’ Retirement System, is reaching out to general partners to stagger their capital calls. “We called the [private equity] partners for our planning purposes, and we are coordinating [the] timing of those [capital] calls with them,” said Patricia […]

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New York Commits $210M To U.S. And Asian Buyouts

By Cust Serv — 11 years ago

The New York State Common Retirement Fund, which controlled $153.9 billion at last check, recently re-upped to a middle-market buyout fund and began new relationships with a debut buyout fund and an Asian fund of funds. This latest round of commitments totaled $210 million. The limited partner pledged $100 million to Ares Corporate Opportunities Fund […]

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Pa. SERS Forms New Tie Despite Nearing Top Of Range

By Cust Serv — 11 years ago

Pennsylvania State Employees’ Retirement System has made a commitment of up to $25 million to Yucaipa American Alliance Fund II LP, earmarked for 10 to 15 control buyout investments in mid- to large-size U.S. distribution/logistics, manufacturing and retail companies. The pledge represents a new relationship for the limited partner, even though the pension fund is […]

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HarbourVest Partners passes fund-raising target

By Cust Serv — 11 years ago

Secondary brokers may be wary of HarbourVest Partners after the firm backed out of a signed deal, but investors aren’t HarbourVest Partners has surpassed its fund-raising target on Dover Street VII, a vehicle designed to invest in limited partner stakes of private equity funds, according to sources familiar with the effort. HarbourVest began raising the […]

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CalPERS Pledges $800M To Diverse Set Of Funds

By Cust Serv — 11 years ago

The California Public Employees’ Retirement System recently pledged a total of more than $800 million to an array of funds with strategies ranging from Asian growth and Italian buyouts to U.S. energy. Interestingly, the limited partner expanded upon its previous pledges abroad while reducing the size of commitments to domestic funds. This latest round of […]

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NJ Pledges $75M To Swiss Funds-Of-Funds Manager

By Cust Serv — 11 years ago

The New Jersey State Investment Council recently confirmed its high regard for opportunities in the secondary market with a fresh $75 million commitment to Swiss funds-of-funds manager Partners Group. The pledge to Partners Group Secondary Fund 2008 follows a $50 million commitment to the firm’s previous secondary fund, Partners Group Secondary 2006. Earlier this year, […]

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CalPERS considers ways to bolster assets

By Reuters News — 11 years ago

CalPERS said it may require that employers increase contributions by an estimated 2% to 4% of payroll The California Public Employees’ Retirement System (CalPERS), the largest U.S. public pension fund, said it may need to tap California public employers for more money if heavy investment losses it suffered in recent months do not reverse. CalPERS […]

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Harvard Management Hires Cogent To Pitch Secondary Sale

By Cust Serv — 11 years ago

Harvard Management Company, which looks after the university’s considerable endowment, has retained Dallas-based advisory firm Cogent Partners to pitch the sale of a secondary portfolio, according to PEHub.com, the sister Web site of Buyouts. The asking price for the available portfolio, which includes a variety of venture capital and buyout funds, is said to be […]

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