Featured Content

Pa. SERS Pleased By PE, Lowers Target Anyway

By Cust Serv — 10 years ago

The Pennsylvania State Employees’ Retirement System, though happy with the recent return generated by its private equity portfolio, said that due to a strategic shift into fixed income investments, the private equity target allocation will be reduced from 14 percent to 12 percent. That its actual allocation stands at 22 percent suggests the pension fund […]

Continue

NY Pledges To Clean Energy Fund

By Cust Serv — 10 years ago

The New York State Common Retirement Fund has committed $100 million to Hudson Clean Energy Partners‘s inaugural fund as part of its Green Strategic Investment Program. This is a new relationship for the pension fund, which made the pledge on Oct. 30. Hudson Clean Energy Partners recently closed its first fund, Hudson Clean Energy Partners […]

Continue

CalPERS Re-Ups With Hellman & Friedman

By Cust Serv — 10 years ago

The $200 billion California Public Employees’ Retirement System has committed $300 million to Hellman & Friedman Capital Partners VII LP, representing just half of what the nation’s largest pension fund pledged to the firm’s previous fund. It was only the second commitment to a buyout fund made directly by CalPERS this year. Fund VII recently […]

Continue

Florida May Buy Stake In PE Firm

By Cust Serv — 10 years ago

The Florida State Board of Administration may steal a page from another big state institution’s playbook by making an investment directly in a private equity firm. It has hired an adviser to vet just such a proposal. The state has engaged advisory firm Evercore Partners to perform due diligence and a valuation work regarding the […]

Continue

Texas Teachers to commit $2.5B to PE

By Lawrence Aragon — 10 years ago

TRS of Texas likely to go after FoFs The $82 billion Teacher Retirement System of Texas intends to commit roughly $2.5 billion to private equity in the coming year and much of that will be channeled through funds-of-funds. The limited partner has not yet finalized which sub-strategies it will target, but one recent pledge of […]

Continue

CalPERS launches placement agent probe

By Reuters News — 10 years ago

At issue is $50M in payments by Apollo and other firms The California Public Employees’ Retirement System announced last week that it is probing fees paid by outside money managers to win its business, expanding a review of “pay-to-play” schemes at public retirement systems that has spread nationwide. The $200 billion state pension fund said […]

Continue

NY looks to abandon sole fiduciary

By Cust Serv — 10 years ago

Bill is the latest push by Cuomo and other New York officials to crack down on the corruption scandal The New York State Common Retirement Fund, which is at the center of an alleged kickback scandal, should be run by a board instead of being overseen solely by the state comptroller, Attorney General Andrew Cuomo […]

Continue

RCP launches FoF

By Cust Serv — 10 years ago

Seventh fund is targeted at $300M Chicago-based fund-of-funds manager RCP Advisors has launched its seventh vehicle, RCP Fund VII, with a $300 million target. Fund VI closed in May with $289 million in commitments, below its $350 million target. RCP Advisors specializes on investments in small to mid-market U.S. buyout funds. Typical funds the firm […]

Continue

Wash. State Pledges To Distress

By Cust Serv — 10 years ago

The $50 billion Washington State Investment Board has proven its continued faith in Oaktree Capital Management LP through two commitments totaling $400 million to funds managed by the distressed debt specialist. Oaktree Capital’s OCM Opportunities Fund VIII LP received a pledge from the limited partner of up to $250 million, while Oaktree Principal Fund V […]

Continue

CalSTRS Commits $350M In Latest Round Of Pledges

By Cust Serv — 10 years ago

The California State Teachers’ Retirement System recently disclosed five private equity pledges totaling $350 million. The money will go to a variety of strategies, from energy to mezzanine to growth equity. All of the pledges took place in the second quarter. CalSTRS committed $100 million to Energy Capital Partners II LP, a buyout fund earmarked […]

Continue

CalPERS’ performance nosedives

By Cust Serv — 10 years ago

“About what we expected,” says CIO Assets under management at the California Public Employees’ Retirement System, the nation’s largest public pension, dropped 23.4% between June 30, 2008, and June 30, 2009, its steepest ever year-over-year decline. Moreover, its private equity portfolio lost 31.4% of its value, with a value of $23 billion through March 31, […]

Continue

Florida Wants To Stretch Its Wings

By Cust Serv — 10 years ago

The Florida State Board of Administration intends to extend its geographic reach, in part by forming relationships with international managers not currently in the portfolio. A presentation made in June to the Florida State Board of Administration by Hamilton Lane, the limited partner’s private equity adviser, noted that the strategic objectives for the private equity […]

Continue

CalPERS gives OK to PE allocation boost

By Cust Serv — 10 years ago

As expected, state public pension fund ups its private allocation last week by 40% The California Public Employees’ Retirement System has raised its private equity investment target by 40%, while also taking the first steps toward snapping up distressed debt as slumping markets create some real bargains. The board of the country’s largest public pension […]

Continue

CalPERS to vote on boosting PE allocation

By Reuters News — 10 years ago

CalPERS also to take the first steps toward snapping up distressed debt as slumping markets create some real bargains The California Public Employees’ Retirement System made headlines last week when it announced that it may boost its private equity allocation from 10% to 14 percent. A vote is scheduled for the pension fund’s board meeting […]

Continue

CalPERS Sets Placement Agent Fee Policy

By Cust Serv — 10 years ago

The California Public Employees’ Retirement System on May 11 adopted a policy requiring fund managers to disclose fee data and other information related to the placement agents they employ as part of their efforts to secure pledges from the pension fund. The new guidelines follow recent revelations of alleged kickback schemes at other public pension […]

Continue

NYSCRF Pledges to VC and Overseas F-O-F

By Cust Serv — 10 years ago

The $120 billion New York State Common Retirement Fund made two private equity pledges totaling $125 million in March, one to a venture capital firm and the other to a funds-of-funds manger. New York-based DFJ Gotham Ventures received a $25 million commitment for its second fund, which is targeting $125 million. This is a new […]

Continue

NYSCRF Bans Use Of Placement Agents

By Cust Serv — 10 years ago

New York State Comptroller Thomas DiNapoli has forbidden the use of placement agents, paid intermediaries and registered lobbyists in investments with the New York State Common Retirement Fund, including flat fees and contingent fees. The ban is a response to charges, including fraud, bribery and money laundering, brought in March and April, involving illegal fees […]

Continue

Florida Maps Out Interest In Distressed, Mezz, Infrastructure

By Cust Serv — 11 years ago

The Florida State Board of Administration, which oversees the $97 billion Florida Retirement System, is looking to boost its exposure to distressed debt, mezzanine and infrastructure funds in a big way. The limited partner recently revealed the details of its strategic investments program, which had a total of about $4.5 billion in funded and unfunded […]

Continue