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NYSCRF Pledges $310M To Three Funds In July

By Cust Serv — 11 years ago

The $154.5 billion New York State Common Retirement Fund disclosed commitments totaling $310 million in July, including $250 million to a buyout fund and $10 million to an emerging mezzanine manager. The limited partner re-upped with Lindsay Goldberg LLC, more than doubling its $100 million pledge to the firm’s previous vehicle by committing $250 million […]

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SF Pension Backs TowerBrook For First Time

By Cust Serv — 11 years ago

The $16 billion San Francisco Employees’ Retirement System approved a commitment of $30 million in mid-August to TowerBrook Investors III LP, marking its first commitment to the buyer of mid-sized and large companies in Europe and North America. It’s unclear how the predecessor fund performed, but the one before that hit a home run. Towerbrook […]

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PSERS Jumps On Nordic Capital VII Bandwagon

By Cust Serv — 11 years ago

The Pennsylvania Public School Employees’ Retirement System embarked on a new relationship in mid-August when it committed up to €150 million ($221 million) to Nordic Capital Fund VII LP, earmarked for Scandinavian-based companies. Stockholm-based Nordic Capital seeks €3.7 billion for Fund VII, with a hard cap of €4.3 billion. As of March 2008, the firm […]

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SEIU Proposes Increased Scrutiny Of Washington State’s PE Holdings

By Cust Serv — 11 years ago

The Service Employees International Union has made a proposal for increased scrutiny of private equity investments made by the Washington State Investment Board. The proposal calls for buyout shops backed by the board to release both their own financial data and that of their portfolio companies. The information about portfolio companies would include: “Revenues, expenses, […]

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Colorado PERA Looks Within To Fill Alternatives Post

By Cust Serv — 11 years ago

Aaron Norton has replaced David Martus as senior portfolio manager in the Alternative Investment Division of the $40 billion Colorado Public Employees’ Retirement Association. Norton’s goal is to build the private equity portfolio, said Katie Kaufmanis, communications director. Martus left to join Pegasus Capital Advisors, after having spent the past eight years as a private […]

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PA SERS Commits $150M Across Strategies

By Cust Serv — 11 years ago

The Board of the $34 billion Pennsylvania State Employees’ Retirement System earlier this month approved $150 million in new commitments to distressed debt, technology and secondary funds. All investments will be funded from cash as part of the pension fund’s long-term investment plan. A €25 million ($40 million) slug will go to Avenue Europe Special […]

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Adams Street seeks bigger co-invest deals

By Cust Serv — 11 years ago

Adams Street Partners to scale up its co-investment activity with its second dedicated pool of capital Funds of funds manager and investment adviser Adams Street Partners plans to scale up its co-investment activity with its second dedicated pool of capital. The Chicago-based firm held a first close on $200 million at the end of the […]

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CalPERS Departures Augur Few Changes

By Cust Serv — 11 years ago

In the span of one week, the $244 billion California Public Employees’ Retirement System dropped two bombshells, announcing that both CEO Fred Buenrostro and CIO Russell Read are leaving. But because of the size of the pension fund, the way it sets its policies, and the enormous investment returns it has generated in recent years, […]

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PA SERS shrinks big fund commitments

By Cust Serv — 11 years ago

Pennsylvania’s second largest pension makes several noticeably smaller commitments than they have in the past The $35 billion Pennsylvania State Employees’ Retirement System made several large commitments earlier this month that were noticeably smaller than what the limited partner has doled out in recent years. That marks a continuing trend for Pennsylvania’s second largest pension […]

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CalPERS loses CIO

By Cust Serv — 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 Cust Serv — 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 Cust Serv — 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 Cust Serv — 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 Cust Serv — 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 Cust Serv — 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 Cust Serv — 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 Cust Serv — 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 Cust Serv — 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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