New Mexico SIC commits to Vista, backs two real estate fundsPosted: 09/27/2018 |
Subscription Required New Mexico State Investment Council’s board at its Sept. 25 meeting approved a $50 million re-up to Vista Equity Partners’ seventh fund, targeting $12 billion. The sovereign fund previously committed $100 million each to Vista Equity’s fifth and sixth funds. The smaller re-up this time is due to concentration guidelines in the policy that limit […] | | Read more... | |
|
Family offices increase PE allocations; co-investments a big attraction, study saysPosted: 09/26/2018 |
Subscription Required Private equity is a preferred strategy among family offices, and North American FOs led the way with high PE allocations in their portfolios. Additionally, family offices increased their private equity allocation by almost four percentage points in 2017 from 2016. Eighty percent thought the asset class performed in-line or exceeded their expectations. That was the upshot […] | | Read more... | |
|
Social Capital to invest only internal capital, cease operations as venture firmPosted: 09/26/2018 |
Subscription Required Social Capital said it would cease operations as a venture firm, no longer accept capital from outside sources, and shrink by about 40 percent in size. The firm, plagued by a steady stream of departures in the past year, including Co-Founders Mamoon Hamid and Ted Maidenberg, provided the news in a blog post and interview […] | | Read more... | |
|
Impact Engine targets $100 mln for debut PE fund, raises capital from family officesPosted: 09/25/2018 |
Subscription Required Impact Engine, an investor in early-stage and Series A impact ventures, is raising its first hybrid PE fund, targeting $100 million. The fund will invest in emerging PE funds and make direct investments. Impact’s debut impact-focused PE fund has already raised $10 million, primarily from family offices, a source familiar with the company said. Impact […] | | Read more... | |
|
MIT’s endowment closes accelerator fund at $204.5 mlnPosted: 09/24/2018 |
Subscription Required The Engine Accelerator, Massachusetts Institute of Technology’s first fund for so-called tough tech, officially closed at $205.2 million, according to a recent report from the school’s treasurer for the year ended June 30, 2018. The Engine initially announced in September 2017 that it had raised $200 million for its first fund, according to a previous […] | | Read more... | |
|
CalPERS names Ben Meng CIOPosted: 09/24/2018 |
Subscription Required California Public Employees’ Retirement System named Ben Meng chief investment officer, succeeding CIO Ted Eliopoulos. Meng, 48, has been deputy CIO at China’s State Administration of Foreign Exchange for three years. He previously worked a seven-year stint at CalPERS. In that earlier tenure, he served as investment director of asset allocation, and was previously a portfolio manager […] | | Read more... | |
|
Baltimore’s Fire & Police pension’s direct fund investments boost PE performancePosted: 09/21/2018 |
Subscription Required Baltimore Fire & Police Employees’ Retirement System’s strategy of investing directly in private equity funds is generating strong performance, a presentation by its investment adviser, Summit Strategies Group, said. The pension system began investing in PE in 2005, and the PE portfolio construction has shifted significantly in the past two years. Baltimore’s F&P pension system started committing directly to […] | | Read more... | |
|
Pennsylvania pensions push back on claims of underreported PE feesPosted: 09/21/2018 |
Subscription Required Pennsylvania Public School Employees’ Retirement System and Pennsylvania State Employees’ Retirement System may have paid almost three times the reported fees to their private equity general partners. The two pension systems paid almost $6 billion in PE fees in the past 10 years, with only $2.2 billion reported, said Ludovic Phalippou, professor of finance at Oxford University. The systems had reported […] | | Read more... | |
|
West Monroe enters the fray for PE co-investmentsPosted: 09/20/2018 |
Subscription Required West Monroe Partners, a business and consulting firm, has established a co-investment group that will join transactions with its private equity clients. The effort is being led by Chris Darragh, vice-president at West Monroe, and managing partner Brian Jacobsen, who joined in June from Grand Crossing Capital. Grand Crossing is the investment company of the family […] | | Read more... | |
|
PA SERS approves PE commitments despite governor’s requestPosted: 09/19/2018 |
Subscription Required Pennsylvania State Employees’ Retirement System appeared to defy the governor’s wishes for the state’s two public pension funds to halt high-management-fee investments while a committee studies the costs of the system’s investment programs. Earlier this month, the board of the state’s public-workers pension approved $175 million in commitments across three funds: $75 million to Vista Equity PartnersFund […] | | Read more... | |
|
