New Mexico reaches into 2019 pot to ensure space in Blackstone real estate megapoolPosted: 12/04/2018 |
Subscription Required New Mexico State Investment Council does not like to miss opportunities to invest with its preferred managers. The fund at its Nov. 29 meeting committed $100 million to Blackstone Group’s ninth real estate fund, making the allocation early out of its 2019 target. The sovereign fund had already used up its 2018 allocation target, Jack […] | | Read more... | |
|
New Jersey commits to TPG Rise Fund II, TSG consumer fundPosted: 12/04/2018 |
Subscription Required New Jersey State Investment Council approved $275 million in private equity commitments at its November meeting, backing TPG’s second social-impact fund and a middle-market consumer fund. The $79.4 billion state pension system committed up to $125 million to Rise Fund II, which is part of the TPG Growth platform. Rise Fund, which has a $3.5 […] | | Read more... | |
|
LPs seek sector specialization, especially in healthcare: surveyPosted: 12/03/2018 |
Subscription Required Many limited partners are seeking additional expertise in specific industry sectors, and a majority see healthcare and pharma as areas rich in opportunity, according to a new survey. Nearly one in five LPs are planning to allocate additional resources to sector specialization, according to Coller Capital’s Global Private Equity Barometer for winter 2018-2019. Coller surveyed 100 […] | | Read more... | |
|
FO L2Capital, independent sponsor Lakewood partner to buy recruiterPosted: 12/03/2018 |
Subscription Required L2Capital Partners, Bob Levine’s family office, in partnership with independent sponsor Lakewood Capital bought Orion ICS and its subsidiary Novotus on Monday. Previously Orion Talent, the executive-search firm connects businesses with military candidates for recruitment needs. Clients include engineering companies like Siemens, construction, medical, paper and food industries, among others. Orion acquired recruiting-process outsourcer Novotus in 2016 to […] | | Read more... | |
|
MassPRIM forms new relationship with JMI EquityPosted: 11/30/2018 |
Subscription Required Massachusetts Pension Reserves Investment Management Board at its Nov. 29 meeting committed $105 million to two managers, investing in software-focused growth equity and venture capital. The $77.2 billion pension system approved a commitment of up to $75 million to JMI Equity Fund IX and $30 million to Flagship Pioneering Special Opportunities Fund II. MassPRIM had […] | | Read more... | |
|
Illinois Municipal broadens PE focus as it mulls reducing assumed returnsPosted: 11/30/2018 |
Subscription Required Illinois Municipal Retirement Fund’s board at its Dec. 14 meeting will consider reducing its assumed rate of investment returns, driven by concern about higher market volatility and decreasing returns across asset classes. The pension system has maintained 7.5 percent assumed returns for 25 years. This is the second time the pension system’s actuarial consultant, GRS Retirement […] | | Read more... | |
|
Koch family’s investment arm invests in family-backed Getty ImagesPosted: 11/29/2018 |
Subscription Required Koch Equity Development, the investment arm of privately owned Koch Industries, is investing $500 million in family-owned Getty Images for a non-controlling stake in the stock-photo company. It’s unclear how big Koch’s holding is in Getty, which is laboring under a heavy debt load. The Getty family is retaining control over the company, a statement […] | | Read more... | |
|
NYS Common ushers in new relationships with Crestview, Reverence CapitalPosted: 11/28/2018 |
Subscription Required The $207 billion New York State Common Retirement Fund committed $200 million to Crestview Partners in September, adding a new manager to its roster of private equity partners. The fund, managed by State Comptroller Thomas DiNapoli, committed to Crestview Partners IV, which focuses on North American middle-market businesses within its core sector verticals. Crestview is a new […] | | Read more... | |
|
New Mexico SIC’s PE commitments fall short of pacing for 2018Posted: 11/28/2018 |
Subscription Required New Mexico State Investment Council’s private equity portfolio increased by almost $400 million but commitments fell short of the pacing target in 2018. Contributions exceeded distributions by almost $100 million and the portfolio made gains of $300 million, said Richard Pugmire, managing director at Pavilion Alternatives Group, New Mexico SIC’s investment adviser, at the Nov. […] | | Read more... | |
|
Opportunity zones offer family offices access to impact, tax breaksPosted: 11/27/2018 |
Subscription Required McNally Capital, a family office, began identifying ways to take advantage of a new federal tax rule meant to encourage investment in underserved communities by tracking Amazon’s search for its headquarters. The rule, included in the Tax Cuts and Job Acts in December 2017, allows private investors to roll their capital gains into a Qualified […] | | Read more... | |
|
