Emerging Manager Roundup: White Deer Energy, DBAY, Tuatara, Autotech and morePosted: 02/14/2019 |
Subscription Required Emerging managers raised $1.7 billion over the past few weeks, the lowest two-week volume of the year. Six PE firms raised over $100 million. No firm raised as much as White Deer Energy. Its third flagship closed at $557 million and will target middle-market energy companies. London-based DBAY Advisors raised over $244.7 million for its […] | | Read more... | |
|
Nebraska council: `19 commitments mainly re-ups; will maintain PE pacingPosted: 02/13/2019 |
Subscription Required Nebraska Investment Council aims for re-ups to potential buyout funds from Leonard Green and Wynnchurch Capital, and a special-situations fund from HarbourVest’s Dover Street, to maintain its $150 million pacing target for 2019. It also hopes to add another manager to its venture capital portfolio, a Feb. 14 presentation by Aon shows. The PE-pacing plan […] | | Read more... | |
|
Denominator effect could curtail NJ pension’s PE commitments this yearPosted: 02/12/2019 |
Subscription Required New Jersey’s state pension system is planning a jump in its private equity allocation beginning in 2020, although its 2019 pacing remains in doubt as it balances its strategic plan with a 12 percent regulatory cap on PE. The $78 billion pension system is near its maximum allocation to PE and private debt. Low or […] | | Read more... | |
|
CalPERS: PE was top performer in a rough 2018Posted: 02/11/2019 |
Subscription Required Private equity was the best performing asset class for California Public Employees’ Retirement System in 2018, returning 12.5 percent at a time when almost all other assets were negative. The value of CalPERS’s portfolio declined 3.5 percent in calendar 2018, documents released in advance of the pension fund’s February meeting show. But without PE’s double-digit […] | | Read more... | |
|
Alaska Permanent: PE strong in H1 as volatile public market pressured returnsPosted: 02/11/2019 |
Subscription Required Alaska Permanent Fund’s private equity portfolio posted the highest fiscal-first-half return among all asset classes, even as public-market volatility drove down its total returns to negative 3.19 percent. In addition, its $1.6 billion co-investment portfolio, which has generated returns of 63.4 percent annually since inception in 2014, was a significant contributor to the PE results, […] | | Read more... | |
|
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... | |
|
