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Wash State Likes Lat Am, Tech Funds

By Cust Serv — 9 years ago

The $58 billion Washington State Investment Board recently pledged up to $400 million to Latin American buyouts and a health care and technology fund. Southern Cross Latin America Private Equity IV LP received a commitment of up to $100 million, and GTCR Fund X LP got a pledge of up to $300 million, a spokeswoman […]

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Oregon Wins Lower Fees From PE Firms

By Cust Serv — 9 years ago

The Oregon State Treasury has negotiated lower fees and better terms with six private equity firms, and is in talks with two other general partners to do the same. The state is taking advantage of a fundraising market in which too little capital is available for too many firms seeking it. One of the firms […]

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Oregon Getting Lower Fees From PE Firms

By Cust Serv — 9 years ago

The Oregon State Treasury has negotiated lower fees and better terms with six private equity firms and is in talks with two other general partners to do the same. One of the firms that agreed to lower its fees is The Blackstone Group. Oregon made a $200 million commitment to Blackstone Capital Partners VI LP […]

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Washington Continues Tradition Of Backing Turnarounds

By Cust Serv — 9 years ago

The $55 billion Washington State Investment Board recently pledged up to $150 million to turnaround fund Littlejohn Fund IV LP, according to a spokesperson for the state pension. This is a new relationship for the limited partner, although the state previously committed to a predecessor firm. Littlejohn & Co., a Greenwich, Conn.-based turnaround shop, invests […]

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Texas LP Commits $200M To Oaktree Funds

By Cust Serv — 9 years ago

The Teacher Retirement System of Texas recently committed a total of $200 million to two investment vehicles managed by distressed debt specialist Oaktree Capital Management, marking the limited partner’s first private equity pledges of the year, a spokesperson told Buyouts. The amount will be evenly divided between Oaktree Opportunities Fund VIII LP and its sidecar […]

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Distributions Picking Up, N.J. To Start Pledging Again

By Cust Serv — 9 years ago

The New Jersey State Investment Council, which manages $67 billion for the state’s pension funds, will likely pledge $700 million to $1 billion to private equity over the next 12 to 15 months, said Head of Private Equity Christine Pastore at a recent conference. The state has not made a commitment since November 2008. New […]

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Adams Street Partners Report Card

By David M. Toll — 9 years ago

It’s gotten harder to hide in private equity. It’s especially so for firms that, like funds-of-funds manager Adams Street Partners, manage public pension money. The early 2000s saw journalists, unions and students launch a major push to pull back the curtains on private equity performance, part of a transparency movement that took hold in the […]

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CalPERS Looking To Win More Buyout Fee Cuts

By Cust Serv — 9 years ago

The California Public Employees’ Retirement System, the biggest U.S. public pension fund, hopes to win fee cuts from other private equity firms following a deal it struck with Apollo Management to slice up to $125 million off fees, its Chief Investment Officer said on April 26. Pension funds and other investors have been able to […]

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HarbourVest Listed Vehicle Seeks Out U.K. Traders

By Cust Serv — 9 years ago

HarbourVest Global Private Equity, a listed funds-of-funds vehicle managed by Boston-based HarbourVest Partners LLC, is targeting U.K.-based investors with a secondary offering on London’s Specialist Fund Market. The aim of the secondary offering, which involves the sale of shares from old shareholders to new ones, is to boost liquidity in the shares, diversify the shareholder […]

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SF Commits To Australia, Media Funds

By Cust Serv — 10 years ago

The San Francisco Employees’ Retirement System recently approved nearly $60 million worth of private equity commitments to an Australian buyout fund and a media equity fund, among others, in an effort to meet its target allocation to the asset class. A commitment of up to A$20 million ($18.4 million) went to CHAMP Private Equity’s latest […]

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Yale’s Swensen Ups Bet On Private Equity, Commodities

By Cust Serv — 10 years ago

Yale University Chief Investment Officer David Swensen‘s losses on big bets in private equity, real estate and commodities have apparently not deterred the noted contrarian. Yale disclosed on March 18 that it had increased significantly its allocations to those sometimes risky and illiquid asset classes at the end of its last fiscal year in June […]

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New York Pledges To Emerging Managers And Asia

By Lawrence Aragon — 10 years ago

The $126 billion New York State Common Retirement Fund recently announced four pledges made in December totaling $160 million, three to emerging managers and one to a firm investing in China and India. Bunker Hill Capital received a $25 million pledge for Bunker Hill Capital II through the Pioneer Partnership Fund B, which is part […]

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Pennsylvania Fires Up Power Pledge

By Cust Serv — 10 years ago

The Pennsylvania State Employees’ Retirement System recently pledged up to $25 million to Oaktree Power Opportunities Fund III, earmarked for controlling equity investments in companies that provide equipment, software and services aiding in the generation, transmission, distribution, marketing, trading and consumption of power. Oaktree Capital Management, Los Angeles, is seeking $800 million for the fund, […]

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NY State Pledges To Clearlake Capital, DeltaPoint Capital

By Lawrence Aragon — 10 years ago

The $126 billion New York State Common Retirement Fund recently announced two pledges made in November totaling $40 million, one to an emerging manager, another to a firm investing largely in the Northeast. Clearlake Capital Group’s Clearlake Capital Partners II received a $15 million commitment through the NYSCRF Pioneer Partnership Fund – A, part of […]

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SF Has New PE Head, Sets PE Pace For 2010

By Cust Serv — 10 years ago

After searching the nation for a person to oversee its alternative and real estate asset classes, the San Francisco Employees’ Retirement System ended up choosing someone right in its own back yard. A big priority for Donald Holcher: committing a total of $225 million to $325 million to private equity in 2010. Holcher, a 27-year […]

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CPP Investment Board Shuffles The Deck

By Cust Serv — 10 years ago

In early January, president and CEO of the $123.8 billion Canada Pension Plan Investment Board, David Denison, announced a raft of promotions to be effective on April 1, 2010, the start of the limited partner’s new fiscal year. Mark Wiseman, head of private investments since 2005, will become executive vice-president, investments, reporting to Denison. Each […]

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Firms Paid $125M In Fees For CalPERS Business

By Cust Serv — 10 years ago

Investment firms paid placement agents more than $125 million in fees to win business with the California Public Employees’ Retirement System, including nearly $59 million to a firm led by a former board member of the pension fund, CalPERS said on Jan. 14. The biggest U.S. public pension fund, reporting the findings of its review […]

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CalPERS Looks To Lower Fees Paid To PE Firms

By Cust Serv — 10 years ago

The $198 billion California Public Employees’ Retirement System said in mid-December that it is exploring ways to cut expenses, such as by negotiating reduced fees with private equity firms, even as the asset class continued to provide the nation’s largest pension fund with a respectable return over the long haul. Although declines in real estate […]

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