Plum Creek Timber Company Inc. has formed a joint venture, Twin Creeks Timber LLC, with several institutional investors to own and sustainably manage a portfolio of U.S. timberlands. Silver Creek Capital Management is the managing member and independent fiduciary of the JV. Initial investors include Washington State Investment Board, the Oregon Public Employees Retirement Fund, and the Alaska Permanent Fund Corporation. The initial portfolio, valued at approximately $560 million, will consist of 260,000 acres of Southern U.S. timberland located in five states sourced from Plum Creek. Plum Creek, who is managing Twin Creeks, will own 25 percent while the initial investors will have 75 percent.Continue
Recent vintage GGV, Union Square, Sofinnova funds power ahead at Oregon PERF.Continue
Union Square Opportunity Fund powered ahead in 2014.Continue
The Oregon Public Employees Retirement Fund paid roughly $300 million in fees to the firms [...]Continue
Late-stage bets have paid off nicely for the Oregon Public Employees Retirement Fund, according to [...]Continue
Almost half of the top 15 funds in the Oregon Public Employees Retirement Fund portfolio [...]Continue
KKR has made back roughly 80 percent of its investment in Capsugel in less than [...]Continue
Littlejohn & Company has collected $1.6 billion for its fifth fund and could hold a [...]Continue
Court Square Capital Partners is getting more money back from Rocket Software.Continue
The employees of North Portland mattress factory Sealy (in which KKR is the largest shareholder) [...]Continue
After a year-long search, Oregon’s Treasury named John Skjervem as the chief investment officer for the state’s main pension funds, which collectively manage $74 billion in assets. Skjervem replaces Ronald Schmitz, who announced last September that he was leaving…Continue
As one of the first public pension funds to commit to private equity, Oregon continues singing the praises of the asset class.Continue
When a large public pension fund dangles $900,000 in potential compensation in front of applicants, it gets a lot easier to lure top talent.
That is exactly what the $51 billion Virginia Retirement System did when it announced it hired Ronald Schmitz (pictured) as its chief investment officer, replacing Charles Grant, whose contract expired in August. Schmitz is scheduled to start at the end of October.
Schmitz was hired away from the $60 billion Oregon Public Employees Retirement System, where he has been chief investment officer since 2003. Prior to Oregon, Schmitz had a similar role at the Illinois State Board of Investment.Continue
Looking for return data? We have return data. Or rather, we have links to return data.
Click “read more” below to get links to return data from nine pensions. The editorial team of sister publication Buyouts Magazine has been hard at work compiling all these numbers into a spreadsheet for our annual look at industry returns. Altogether our database has 443 U.S. and international buyout funds and turnaround/distressed funds spanning vintage years 1981 to 2005. Of those, we have investment multiples for 366 of them. And the quartile dividing lines? These probably won’t come as a big surprise for dedicated students of industry performance. It takes an investment multiple of 2 to crach the top quartile, 1.5 is median and 1.2 marks the bottom quartile.Continue