JAB’s Becht retires; family office and coffee powerhouse adds 3 partnersPosted: 01/15/2019 |
Subscription Required Lambertus Becht, partner and chairman at JAB Holding Co, which invests on behalf of Germany’s Reimann family, is retiring, a news release said. Fabien Simon, Ricardo Rittes and Jacek Szarzynski will join the JAB partnership. JAB is also opening a new office in Sao Paulo, Brazil. JAB invests the wealth of four members of the Reimann […] | | Read more... | |
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Virginia Retirement commits to Abry; PE highest returning asset classPosted: 01/14/2019 |
Subscription Required Virginia Retirement System at its Jan. 14 meeting disclosed a $35 million commitment to Abry Partners’ ninth fund, targeting $2.1 billion. Last year Virginia also acquired a combined $31 million of stakes in ABRY Partners VII and VIII on the secondary market, ActiveLPs reported. Founded in 1989 by ex-Bain & Co execs Andrew Banks and […] | | Read more... | |
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Texas Municipal emerges as LP of choice for small and mid-market managersPosted: 01/14/2019 |
Subscription Required Texas Municipal Retirement System, just four years into launching its new PE program, has built itself into an LP of choice for the smaller side of the market. Small managers are one of the more popular strategies large LPs are pursuing, with several big institutions like CalPERS and CalSTRS carving out separate allocations just to […] | | Read more... | |
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Fresh family profile: Conde Nast owner’s venture arm seeks early stage opportunitiesPosted: 01/11/2019 |
Subscription Required Advance Venture Partners, the venture capital arm of Conde Nast’s owner, the Newhouse family, wants to hire an associate to focus on early-stage growth investments in the consumer and enterprise landscape. That’s familiar territory for the family that made its fortune in media, software and technology. Newhouse family’s business Advance Publications owns a portfolio of media and technology companies that […] | | Read more... | |
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Alameda County mulls new relationship with GenstarPosted: 01/10/2019 |
Subscription Required Alameda County Employees’ Retirement Association is mulling a $33 million commitment to Genstar Capital Partners’ ninth fund targeting $5 billion. Genstar invests in North American middle-market businesses in financial services, software, industrial technology and healthcare, targeting companies with enterprise values between $250 million and $1.25 billion. Nebraska Investment Council committed $50 million to Genstar’s ninth […] | | Read more... | |
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Santa Barbara Co. committed $62.3 mln to PE in ’18, added Thoma BravoPosted: 01/09/2019 |
Subscription Required The $3 billion Santa Barbara County Employees Retirement System committed $62.3 million to private equity in 2018, adding Thoma Bravo to its roster of general partners in the asset class. The system made seven commitments last year, a report produced for its December meeting shows. All the commitments went to existing relationships, except for Thoma […] | | Read more... | |
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New Mexico SIC ’18 PE lagged pacing target as it struggled to access preferred fundsPosted: 01/09/2019 |
Subscription Required New Mexico State Investment Council committed less than half its pacing target for 2018 private equity as it carefully selected opportunities and missed out on some of its preferred choices because of a sharply competitive fundraising environment. SIC committed $285 million, compared with the target range of $550 million to $650 million, across funds from […] | | Read more... | |
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Texas TRS commits more to KKR, ApolloPosted: 01/08/2019 |
Subscription Required Teacher Retirement System of Texas committed nearly $1.9 billion to private markets in December, including additional allocations for KKR and Apollo, which run large separate accounts for the pension. For the month, Texas TRS committed $985 million to real-assets strategies, $425 million to energy, natural resources and infrastructure strategies, and $412 million to PE. In […] | | Read more... | |
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Iconiq, family office to tech billionaires, hires BlackRock exec as CIOPosted: 01/08/2019 |
Subscription Required Nugi Jakobishvili, global head of alternative solutions at BlackRock, joined multifamily office Iconiq as chief investment officer in January, two sources confirmed to ActiveLPs. Iconiq, often referred to as Facebook Founder Mark Zuckerberg’s family office, has a client list including Facebook’s Dustin Moskovitz, Sheryl Sandberg, her late husband Dave Goldberg, Twitter’s Jack Dorsey and LinkedIn’s Reid […] | | Read more... | |
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CalPERS senior executive seen as ‘instrumental’ to PE strategy resignsPosted: 01/08/2019 |
Subscription Required California Public Employees’ Retirement System’s chief operating investment officer, Elisabeth Bourqui, resigned Monday, after less than a year on the job, a CalPERS spokeswoman confirmed. Bourqui, who had previously been head of pension assets and liabilities management at the Swedish-Swiss company ABB Group, began working for CalPERS in May 2018. At the time, her hiring […] | | Read more... | |
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