Pension funds invest in Twin Creek Timber J.V.

By Luisa Beltran — 2 months ago

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.


Washington Commits $1B+ to Private Equity

By Gregory Roth — 4 years ago

The Washington State Investment Board, which manages more than $80 billion in pension assets, made more than $1 billion in commitments to a trio of private equity funds, two of which just started their fundraising efforts.


Washington State Bets $550 Million On Global PE

By Gregory Roth — 4 years ago

It must be international month in the Washington State Investment Board cafeteria. At its November board meeting, the $79 billion pension system made more than $550 million in commitments to two global private equity managers, including $300 million for London-based Apax Partners and its Apax Europe VIII LP, and $250 million for Actis’s latest emerging markets offering, Actis Global 4 LP.

Washington State has one of the nation’s largest private equity programs, with $15.6 billion in existing private equity assets. Private equity represents about 25 percent of its main fund’s total assets.


Top 10 Blog Posts for Past Week Focus on Founders Cashing Out Too Early, Sweeter Fund Terms, Social Food Sites, More

By Lawrence Aragon — 5 years ago

Want to catch up on what your colleagues found most interesting on peHUB last week? Here are the top 10 blog posts written by peHUB staffers that garnered the most pageviews from our regular readers from April 18 to April 22.

No. 1: Concern Grows Over Founders Cashing Out Too Much, Too Early
No. 2: Fund Terms Grow Sweeter; Bain Expected To Offer 20% Carry
No. 3: Churchill Financial Files To Form A BDC
No. 4: Hungry VCs Like the Taste of Social Food Sites
No. 5: Charlesbank, H.I.G. Sell Vision Source After Nearly A Year
No. 6: Global Secondary Market Expected to Surpass $25B, as Asian Deals Take Off
No. 7: Gets Another Big Name Advisor And $6M In Cash
No. 8: Social Scene: Hard-to-Get Seats at Obama’s Facebook Town Hall, Foundry Dudes Rock a New Band, 13-Year-Old’s Entreprenurial Spirit Inspires
No. 9: Silver Lake Kraftwerk Confirms Atluru And Fichtner As Partners
No. 10: Washington State Re-Ups With $300 Million to Providence Equity Partners


Washington State Re-Ups With $300 Million to Providence Equity Partners

By Gregory Roth — 5 years ago

The Washington State Investment Board today approved a $300 million commitment to a new fund being raised by Providence Equity Partners, the Providence Equity Partners VII, L.P.

Liz Mendizabal, who heads up Public Affairs for the Washington State pension, said the state has had a longstanding relationship with Providence. “We have confidence in them and have been pleased with the results,” she said.

The Olympia, Wash.-based pension, which manages $79.4 billion in assets, last made a commitment to Providence of $250 million to its previous fund, the Providence Equity Partners VI, L.P. That fund, which ultimately raised $12 billion, closed in 2007, just before the financial crisis.


Top 10 Hub Posts This Week

By David M. Toll — 5 years ago

Want to catch up on what your colleagues found most interesting on peHUB this week? Here are the posts written by our staff that garnered the most pageviews from March 21 to March 25.

1. Slideshow: Top 10 Largest First Rounds Of Internet Companies This Year by Larry Aragon

2. Meet the First ‘Social Media Analyst on Wall Street’ by Connie Loizos

3. Which Buyout-backed IPO in 2010 is the Best Performer? by Eamon Beltran

4. And the Winner of Mid-market Deal of the Year Is… by David Toll

5. Andreessen Horowitz Brings Aboard a Face Familiar to the VC Industry by Connie Loizos

6. By the Numbers: Washington State Investment Board’s Buyout Performance by David Toll

7. Yuri Milner Said To Purchase $70M Silicon Valley Home by Mark Boslet

8. If It’s Pizza You’re Ordering, MidOcean’s Had Enough by Bernard Vaughan

9. Looking For High-Growth, Low-Profile Startups? Check out Momentum Index by Connie Loizos

10. Did StepStone’s PCG ties Cost It The New Mexico Advisor Deal by Jon Marino