Texas TRS hires emerging manager director from Illinois TeachersPosted: 02/22/2019 |
Subscription Required Teacher Retirement System of Texas hired Kirk Sims from Illinois Teachers Retirement System to lead its emerging manager program. The $150 billion Texas Teacher pension has an active emerging manager program, with $3.7 billion committed since inception, and another $2.1 billion invested with firms that had graduated from the EM Program, including Vista Equity Partners. The pension launched an […] | | Read more... | |
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CDPQ’s PE group deploys C$9 bln in 2018, earns 16.6 pct returnPosted: 02/21/2019 |
Subscription Required Caisse de dépôt et placement du Québec deployed more than C$9 billion ($6.8 billion) in the global private equity market in 2018, ending the year with net assets of C$42.9 billion. PE investments generated a net return of 16.6 percent last year, exceeding a benchmark of 8.7 percent, according to the pension fund’s financial report. […] | | Read more... | |
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How much do you really know about family offices?Posted: 02/20/2019 |
Subscription Required If you’re like us, you probably think you know quite a bit about family offices. Read on to see how your beliefs stack up against the findings of our analysis of our family office database. The database has quickly grown to 376 profiles, so we thought it would be fun to dig into the data […] | | Read more... | |
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TH Lee fund revamp stalls amid price wranglingPosted: 02/20/2019 |
Subscription Required One of the largest GP-led fund restructurings in the market has apparently stalled, five sources told Buyouts in recent interviews. Thomas H. Lee Partners’ restructuring of its sixth fund, an $8.1 billion fund raised in 2006, is delayed and the parties may be renegotiating pricing, sources said. The buyers leading the deal are Coller Capital, Neuberger […] | | Read more... | |
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CalPERS eyes secondaries, co-investing to boost PE exposurePosted: 02/20/2019 |
Subscription Required California Public Employees’ Retirement System is looking for more traditional ways to boost its exposure to private equity, including buying secondaries and increased co-investing. Even as CalPERS explores plans to launch its own captive private equity funds, the $354 billion retirement system could benefit from opportunistic reengagement with secondaries and co-investment, according to its PE […] | | Read more... | |
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In fast-moving cannabis investing, family offices hit obstaclesPosted: 02/18/2019 |
Subscription Required Family offices have been eager and leading investors in the growing cannabis market, using their advantages over traditional PE to explore opportunities. But investors and family office executives say many FOs also face obstacles as they try to put their money down in a complex logistical and legal environment. Family offices are “not equipped to […] | | Read more... | |
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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... | |
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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... | |
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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... | |
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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... | |
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