Commonfund opens diversity office to boost LP dialogue around womenPosted: 11/20/2018 |
Subscription Required Diversity in private equity is an issue that has slowly gained more attention, but meaningful change won’t likely happen until the limited-partner community fully pushes its managers to make change. Women represented only 17.9 percent of PE employees globally and just 17.1 percent in the U.S., Preqin reported last year. Of the 9.4 percent that […] | | Read more... | |
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Emerging Manager Roundup: Novalpina, Health Velocity, Base10 Partners and morePosted: 11/20/2018 |
Subscription Required Emerging managers raised more than $1.1 billion in the past week. Four firms raised over $100 million. No firm raised as much as Novalpina Capital. The private equity firm raised more than $328 million and targets over $1.1 billion. The other PE firm to cross the $100 million mark was Corbin Capital Partners. Its first […] | | Read more... | |
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Illinois Municipal backs second Abry fund in 2018Posted: 11/19/2018 |
Subscription Required Illinois Municipal Retirement Fund at its Nov. 16 meeting disclosed a $50 million re-up to Abry Partners’ ninth flagship fund. The target on Abry’s latest fund is unclear. Its eighth fund closed at $1.9 billion in 2014. Abry had been in the market this year, raising its fourth advanced-securities fund with a $1.5 billion target. […] | | Read more... | |
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Connecticut re-ups with revised Muller & Monroe diversity-focused fund-of-fundsPosted: 11/16/2018 |
Subscription Required Connecticut re-upped with Muller & Monroe Asset Management in a fund focused on commitments in Connecticut-based women and minority managers that has a few new features. Treasurer Denise Nappier committed $50 million to Connecticut Private Horizons Fund managed as a separate account by Muller & Monroe. The fund strategy differs significantly from previous funds Muller & Monroe manages for Connecticut. […] | | Read more... | |
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Prescott Group’s first PE fund attracts big family officePosted: 11/15/2018 |
Subscription Required Prescott Group, a real estate investment firm, is raising its first private equity fund, with a hard cap of $250 million. Among its early investors is a $6 billion family office that committed $25 million to the fund, a source familiar with the fund said. About 90 percent of the fund will be used to […] | | Read more... | |
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SF Equity Partners transitions from independent sponsor, raises PE fundPosted: 11/15/2018 |
Subscription Required San Francisco Equity Partners, transitioning from a family-backed independent sponsor to a private equity firm, is raising a fund targeting $125 million, according to a Form D. The firm, led by Scott Potter, began as a European family-backed independent sponsor in 2005, a source familiar with the firm said. Later, the firm began seeking additional […] | | Read more... | |
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Blackstone buys ~$1 bln PE portfolio from LACERAPosted: 11/15/2018 |
Subscription Required Blackstone Group acquired a portfolio of private equity stakes valued at about $1 billion from Los Angeles County Employees’ Retirement Association, sources told Buyouts. Greenhill Cogent was secondary adviser on the deal. Blackstone’s secondaries group, Strategic Partners, acquired the portfolio. Exactly what’s in the portfolio is unclear. LACERA’s request for proposals said it had about 130 […] | | Read more... | |
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CalPERS commits ~$1.5 bln to PE in August and SeptemberPosted: 11/14/2018 |
Subscription Required California Public Employees’ Retirement System in August and September committed about $1.5 billion to five private equity funds, including $650 million to Hellman & Friedman’s latest fund, documents show. The $350 billion pension fund has grappled with a range of new approaches to private equity to meet an allocation target of 10 percent, but it continues to […] | | Read more... | |
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Emerging Manager Roundup: ICONiQ, SGG, BlackGold, Greenspring and morePosted: 11/14/2018 |
Subscription Required Emerging managers raised more than $1.6 billion in the past few weeks. Eight firms raised over $100 million, six of which were private equity firms. ICONiQ, which has powerful Silicon Valley executive connections such as Mark Zuckerberg, out-raised all other emerging managers. Its third co-investment vehicle raised over $224 million. With its acquisition of Cim […] | | Read more... | |
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Ardian picks up billion-dollar-plus portfolio from Florida SBAPosted: 11/14/2018 |
Subscription Required Ardian acquired a portfolio of mostly private equity stakes, and a small amount of venture, from Florida State Board of Administration, sources told Buyouts. The portfolio was valued at around $1.3 billion, sources said. Evercore was secondary adviser on the deal, which hit the market in October, Buyouts reported. Florida packaged some strong buyout-fund exposure in the […] | | Read more... | |
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