CIOs of large public systems explain how new managers can get their moneyPosted: 02/08/2019 |
Subscription Required Large public pensions are always on the lookout for new talent and smaller managers, and the CIOs of four large pension systems recently shared advice to firms looking to break in. The CIOs of the $151 billion Florida State Board of Administration, $150 billion Teacher Retirement System of Texas, $120 billion New York State Teachers’ […] | | Read more... | |
|
Fresh Profile: Adi’s FO seeks to invest in life sciences in IsraelPosted: 02/08/2019 |
Subscription Required Adi Family Office, which invests the wealth of Adil Adi, founder of Worldlink, is seeking life-science startup opportunities in Israel, where it’s found a fertile investment environment. For a host of reasons Israel has been compelled to develop technologies around life sciences, cybersecurity and agriculture, Adi said. “We have been actively engaged in getting to […] | | Read more... | |
|
HPS 4th mezz pool targets $8 bln; Louisiana Teachers’ pledgesPosted: 02/08/2019 |
Subscription Required HPS Investment Partners is back with its fourth mezzanine fund, targeting $8 billion, Teachers’ Retirement System of Louisiana documents show. Louisiana Teachers’ committed $100 million to HPS’s new fund. HPS’s previous mezzanine-debt fund raised $6.6 billion, the largest debt fund in 2016. Its second mezzanine fund closed at $5 billion in 2013. HPS, formed in 2007 as […] | | Read more... | |
|
Slower GP deployment hampers NH’s 2019 PE pacing planPosted: 02/07/2019 |
Subscription Required New Hampshire Retirement System will commit less than a quarter of its annual pacing for private equity and private debt in 2019, a presentation by NEPC, its investment consultant, shows. That’s because several funds to which the pension system committed in 2017 and 2018 had not started drawing capital. These funds would be considered vintage-year […] | | Read more... | |
|
Emerging managers offer FOs a path to build alternatives exposurePosted: 02/07/2019 |
Subscription Required Multigenerational family offices seeking to invest in alternatives might look to emerging managers who deliver desired returns with less complexity, risk and resources than co-investments, direct investments and secondaries. That’s the upshot of Cambridge Associates’ report “Private Investing for Private Investors.” FOs should not lament the lack of access to established and prominent funds, the […] | | Read more... | |
|
Louisiana Teachers’ mulls re-ups to Blackstone, SummitPosted: 02/06/2019 |
Subscription Required Teachers’ Retirement System of Louisiana at its Feb. 7 meeting will consider re-ups to the latest funds from Blackstone Group and Summit Partners. Blackstone’s eighth flagship fund targeting $20 billion will make 15 to 20 control investments of $50 million to $1 billion each. The fund will invest in large buyouts, carveouts and buy-and-builds; it […] | | Read more... | |
|
NYS Teachers committed $646 mln to PE in Q4Posted: 02/05/2019 |
Subscription Required New York State Teachers’ Retirement System committed $646 million to six private equity funds in Q4. The $119.9 billion system has an 8 percent target allocation to PE, and the recent commitments included a mix of different geographic and strategic focuses. From Oct. 1 through year-end NYS Teachers’ committed: $200 million to TSG8, which closed […] | | Read more... | |
|
NYS Common closed 2018 strong, pledged total $6.3 bln to PEPosted: 02/05/2019 |
Subscription Required New York State Common Retirement Fund committed more than $1.1 billion to private equity funds in December, bringing its total 2018 commitment to the asset class up to $6.3 billion. The $207 billion pension fund committed: $400 million to Brookfield Asset Management’s Brookfield Capital V fund, which has a target size of $8.5 to $9 […] | | Read more... | |
|
Texas Teachers works to smooth path for emerging managers into core portfolioPosted: 02/04/2019 |
Subscription Required As Teacher Retirement System of Texas gears up for its 13th annual emerging-manager conference, it is expanding its own program to smooth the transition for young managers into its core private equity portfolio. The system, a pioneer in EM programs, will inject $1 billion into what it calls its Emerging Manager Select program. Texas Teachers […] | | Read more... | |
|
Oregon plans cost-saving co-investments, ~$3 bln in PE commitmentsPosted: 02/04/2019 |
Subscription Required Oregon Investment Council approved a private equity pacing target of $2.5 billion to $3.5 billion for 2019 and plans to use co-investment to reduce fees in its PE portfolio. Oregon’s 22.1 percent PE allocation is already over its 17.5 percent target, but the pension plans to maintain the same pacing target as last year, with […] | | Read more... | |
|
