CalSTRS board wants to see more co-invest data prior to PE-staff increasePosted: 02/01/2019 |
Subscription Required California State Teachers’ Retirement System is considering a staff recommendation to increase its private equity staff by 60 percent, but board members say they want more data on performance and savings before going forward. CalSTRS PE head Margot Wirth wants to increase the PE staff to 40 from about 25 to help the pension pursue […] | | Read more... | |
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Johns Hopkins endowment shopped a PE portfolio in ’18Posted: 01/30/2019 |
Subscription Required Johns Hopkins’s endowment fund was shopping a portfolio of private equity fund stakes after a new chief investment officer took over the program, three sources told Buyouts. The portfolio, valued at up to $500 million, was on the market last year, sources said. It’s not clear whether the portfolio traded or the endowment pulled it […] | | Read more... | |
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Pearl Fund, non-real-estate opportunity zone fund, joins fundraising frayPosted: 01/29/2019 |
Subscription Required Pearl Fund, a venture capital-focused opportunity zone fund, is targeting $50 million to invest in early-stage companies. The fund will focus on technology in opportunity zones in New York, northeast Pennsylvania and northern New Jersey. Brian Phillips, promoter of Pearl Fund, is a serial early tech entrepreneur. He founded Information Technologies Group and sold it […] | | Read more... | |
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Maine PERS PE co-invests post highest returns; mulls pledge to Carlyle infraPosted: 01/28/2019 |
Subscription Required Maine Public Employees Retirement System’s private equity co-investment program produced the highest returns among all co-investment programs, documents obtained via public-records request by ActiveLPs show. The 16 PE co-investments, accounting for almost half (49 percent) the $459 million total co-investments, produced an IRR of 23 percent as of Sept 30, 2018. By comparison, Maine’s infrastructure […] | | Read more... | |
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Altman Foundation eyes secondary market as it builds up PE portfolioPosted: 01/28/2019 |
Subscription Required Altman Foundation, with $270 million in AUM, wants to build secondary-market exposure as a way to access funds at lower commitment sizes, according to John Townsend, vice president and treasurer. “If we pick the right manager with the right strategy at the small/low end of the market, or a manager with good proprietary deal flow […] | | Read more... | |
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Fresh Profile: Falcon, formed by SK Capital founders, has recruited PE talent to compete for dealsPosted: 01/25/2019 |
Subscription Required Falcon Private Holdings, the family office of SK Capital Founders Jamshid Keynejad and Barry Siadat, is bulking up its direct-investment portfolio. The FO was formed almost 10 years ago and its portfolio included Aristech Surfaces, Ascend Performance Materials and a handful of smaller businesses acquired by Keynejad. In 2017, the Boca Raton, Florida-based family office brought […] | | Read more... | |
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Pritzker-backed PPC acquires KabaFusion, its second healthcare investmentPosted: 01/24/2019 |
Subscription Required Pritzker family-backed Pritzker Private Capital added KabaFusion, a provider of acute and specialty home infusion services, to its fast expanding list of acquisitions. PPC’s portfolio includes another healthcare company PathGroup, focused on pathology services. “We like ‘higher efficiency, higher efficacy’ healthcare businesses,” said Michael Dal Bello, investment partner. PPC, which acquires middle-market companies for Pritzker Group […] | | Read more... | |
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Allianz eyes recurring-revenue software as part of recession-resistant strategyPosted: 01/23/2019 |
Subscription Required Allianz Capital Partners is tilting its U.S. private equity investments toward value-oriented strategies that can thrive even during a potential downturn. ACP, the alternative-assets arm of Allianz Group, has made recent commitments to a smaller software-and consumer-focused fund and a deep-value transatlantic fund. It sees those types of investments as typical of the kind of […] | | Read more... | |
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Longtime LP at Texas Teachers’, Thawley, moves to UTIMCOPosted: 01/22/2019 |
Subscription Required Brad Thawley, a longtime PE-investment officer with Teacher Retirement System of Texas, joined UTIMCO on the private-markets team at the start of the year, according to sources. Thawley left Texas Teachers’ around year-end as a senior investment director. He worked at Texas Teachers’ since 2005, according to his LinkedIn profile. The profile has been updated […] | | Read more... | |
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CIM launches ambitious $5 bln opportunity zone fundPosted: 01/21/2019 |
Subscription Required CIM Group has set an ambitious goal for a new investment strategy, targeting $5 billion for an opportunity zone fund, the largest such pool in the market. Los Angeles-based CIM Group, founded in 1994 by Avi Shemesh, Richard Ressler and Shaul Kuba, owns and operates urban real estate, real estate-related assets and infrastructure assets. The company also raises private capital […] | | Read more... | |
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