Fresh profile: Carlson Private Capital’s ex-PE execs thrive on long-term viewPosted: 04/26/2019 |
Subscription Required Carlson Private Capital Partners is a unique creature in the private equity space. “We would consider ourselves a direct investment platform that’s backed by a single family, so in a lot of ways that’s basically a family office,” CEO and Managing Partner Andrew Cantwell told Active LPs. “We’re essentially operating like a family office.” The […] | | Read more... | |
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Five Questions with Cresset’s Avy Stein on Opportunity ZonesPosted: 04/25/2019 |
Subscription Required Avy Stein is co-founder and co-chairman of Cresset Capital, which he started with Eric Becker in 2017. Cresset launched out of what Stein called a “tremendous disruption” taking place in the family office space, with increased demand for more sophisticated financial products along with the usual menu of FO services. Cresset is eager to take […] | | Read more... | |
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Vermont commits $150 mln to PE, adds Siguler Guff as second GPPosted: 04/24/2019 |
Subscription Required Vermont Pension Investment Committee at its April meeting committed $150 million to two private equity funds, deepening its relationship with HarbourVest and adding a second GP to its portfolio. The $4.4 billion pension plan is a relatively recent investor in PE, and HarbourVest has been its only GP since it began investing in the asset class. […] | | Read more... | |
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Baltimore Fire & Police commits $60 mln to PEPosted: 04/24/2019 |
Subscription Required Baltimore Fire & Police Employees’ Retirement System at its March meeting approved $60 million to special situations and secondaries private equity managers, meeting minutes show. The board approved recommendations from consultant NEPC to allocate funds into four substrategies, Baltimore’s director of communications, Amy Baskerville, told Active LPs. Recommendations include: $15 million to $18 million to […] | | Read more... | |
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OPZ Bernstein courts FOs in big opportunity-zones pushPosted: 04/23/2019 |
Subscription Required OPZ Bernstein, part of Bernstein Cos of Washington, looks to make a big splash on opportunity zones, and family offices have a huge role to play. The firm recently closed its first deal, a $50 million so-called adaptive-reuse project in Cincinnati, changing an office building into multifamily housing. “We’ve already funded our first opportunity-zone investment,” said Craig […] | | Read more... | |
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Iowa to commit up to $700 mln in PE in 2019Posted: 04/22/2019 |
Subscription Required Iowa Public Employees’ Retirement System at its March meeting authorized Pathway Capital Management, its sole PE manager, to commit up to $700 million to the asset class for 2019, an investment-board meeting agenda shows. Pathway has already pledged more than a third ($263 million) of the allotted fund to Pathway Private Equity Fund XXV, IPERS […] | | Read more... | |
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Single-family offices more interested in alternatives, PE than multi-family offices: studyPosted: 04/19/2019 |
Subscription Required Single family offices are allocating about 60 percent of their assets to alternatives, compared to 44 percent for multi-family offices, according to a study released last month by Family Wealth Report, sponsored by FundCount. Overall, the study, examining 44 family offices worldwide, mostly in North America, found an average 53 percent exposure to alternatives. Private […] | | Read more... | |
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New Mexico ERB backs Raine Group’s third fundPosted: 04/19/2019 |
Subscription Required New Mexico Educational Retirement Board at its April meeting committed $40 million to a Raine Group growth equity fund, Bob Jacksha, the system’s chief investment officer, told Buyouts. Raine Partners III focuses on entertainment, gaming, sports, lifestyle and digital media and internet companies in North America. Raine Group’s third fund received a $75 million commitment […] | | Read more... | |
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Washington State commits $2.6 bln to private marketsPosted: 04/19/2019 |
Subscription Required Washington State Investment Board committed $2.6 billion to private markets, including a two large re-ups and a new partnership with a renewable energy fund. At its April 18 meeting, Washington reported three commitments under delegated staff authority and two partnerships that had been vetted by its private markets committee. Under delegated staff authority, Washington committed […] | | Read more... | |
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Beninvest FO makes innovative blockchain push with DiamHoldingPosted: 04/18/2019 |
Subscription Required Inserting a unique nano-sized identifier in a diamond may seem to the layman like an unusual project, but for Benoit J.P. Flammang, a longtime private investor and one of the partners at Beninvest, his single-family office, it made perfect sense. “I’m personally linked, not active, but linked to the jewelry industry,” Flammang told Active LPs. […] | | Read more... | |
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