With new consultant in place, LACERS aims to reshape PE portfolio Posted: 11/02/2018 |
| Subscription Required Los Angeles City Employees Retirement System approved a 2019 strategic plan recommended by its new consultant, aiming to significantly speed up pacing, rethink limits on commitment sizes and consider secondary sales as it reshapes its portfolio. The $17 billion retirement system ... | | Read more... | |
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University of California plans to boost PE pace to ~$2 bln a year Posted: 11/01/2018 |
| Subscription Required University of California is ramping its private equity pace as the asset class generated returns in excess of 20 percent for fiscal 2018. The $4.4 billion private equity portfolio, spread across UC’s pension and endowment funds, has changed significantly in the past few [...] | | Read more... | |
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Harvard endowment’s PE generates highest returns for 2018 on lower allocation Posted: 10/31/2018 |
| Subscription Required Harvard University endowment’s private equity portfolio returned 21 percent, the highest among all asset classes for the fiscal year ended June 30, 2018. Harvard’s endowment returned 10 percent for fiscal 2018, up from 8.1 percent the year earlier. “Asset allocation — or risk level [...] | | Read more... | |
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Capital Constellation backs Motive Partners in third deal of year Posted: 10/30/2018 |
| Subscription Required Institutional-investor-backed Capital Constellation on Monday announced a strategic partnership with Motive Partners, which invests in financial-services-focused technology businesses. This is the third 2018 investment for Capital Constellation, a collaboration of Alaska Permanent Fund, RMPI Railpen, the U.K.’s largest pension fund, and investment adviser Wafra on behalf of Public Institution for Social Security of Kuwait, the national retirement […] | | Read more... | |
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Japan Investment Corp: $2 bln fund targets U.S. biotech, drug discovery Posted: 10/29/2018 |
| Subscription Required Japan Investment Corp, the new state-backed fund, set up a $2 billion fund, JIC-US, to invest in biotech and drug-discovery startups. California-based JIC-US will use a venture capital fund to invest in seed and early-stage companies as a GP or LP, according to a news release. It will also consider joint investments. JIC-US will make use of a […] | | Read more... | |
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KSL takes flight with $100 mln commitment from NJ; JLL gets $200 mln Posted: 10/26/2018 |
| Subscription Required New Jersey Division of Investment committed up to $300 million to two private-markets strategies, investing in small and middle-market buyouts as well as travel-and-leisure businesses. The state, which has $79.43 billion in combined pension assets, also reported that it was somewhat behind its private-markets pacing targets for the year, although a spokesman said that it still […] | | Read more... | |
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Emerging Manager Roundup: C-III, New MainStream, March and more Posted: 10/26/2018 |
| Subscription Required Emerging managers raised more than $2.4 billion in the past few weeks. Nine firms raised over $100 million. Six of those nine were private equity firms. Real estate service company C-III Capital Partners outraised all other firms. It raised more than $487 million of a targeted $600 million. New MainStream Capital, created as a spinoff […] | | Read more... | |
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Fresh Profile: Rubenstein’s family office is doing deals, adding staff Posted: 10/26/2018 |
| Subscription Required David Rubenstein’s Declaration Capital, a recent addition to the family office world, is actively investing in companies and building out its team. Rubenstein co-founded Carlyle Group with William Conway and Daniel D’Aniello in 1987. The private equity behemoth currently has $210 billion in assets under management and 31 offices across six continents. Rubenstein and Conway […] | | Read more... | |
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Connecticut plans $50 mln commitment to support local, diverse and emerging PE firms Posted: 10/26/2018 |
| Subscription Required Connecticut State Treasurer Denise Nappier is considering a $50 million allocation to Connecticut Private Equity Horizons Fund, which focuses on small and mid-market funds that are managed by women-owned, minority-owned, emerging or Connecticut-based investment firms. Nappier presented the investment opportunity at the Oct. 24 meeting of the $30 billion Connecticut Retirement Plans and Trust Funds’ investment advisory committee, […] | | Read more... | |
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PA SERS commits $100 mln to new TSG relationship Posted: 10/25/2018 |
| Subscription Required Pennsylvania State Employees’ Retirement System’s board at its Oct. 23 meeting moved to commit up to $100 million to TSG Consumer Partners’ eighth fund. This is a new relationship for the pension system, part of its strategy of making fewer and larger commitments to best-in-class funds, according to PA SERS’s 2018-19 investment plan. How much TSG8 […] | | Read more... | |
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Tricor Pacific Capital renews brand with unveiling of family office Posted: 10/25/2018 |
| Subscription Required Tricor Pacific Capital, which for nearly two decades operated as a North American private equity investor, has returned to the market as a family office. The new Tricor, led by Managing Partner Rod Senft, who co-founded the PE firm in 1996, was officially unveiled this week. Its goal is to invest Senft family and partner capital […] | | Read more... | |
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PA PSERS releases its first carried-interest report; GPs earned 19.4 pct Posted: 10/24/2018 |
| Subscription Required Pennsylvania Public School Employees’ Retirement System issued its first carried-interest report and said its GPs earned 19.41 percent of investment profits as carry from the program’s 1985 inception through 2017. The report, presented by Chief Investment Officer James Grossman at the Oct. 12 board meeting, reflects the agency’s continued execution on a 2017 plan to […] | | Read more... | |
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More funds sprout in Asia, but LPs still want North American PE Posted: 10/23/2018 |
| Subscription Required GPs are raising more and more Asia-focused funds, but LPs remained focused on pursuing North American private equity opportunities, according to recent research from Preqin. In its latest quarterly report on PE and venture capital, Preqin found that 44 percent of all funds in market are targeting Asia, including six of the 10 largest funds, […] | | Read more... | |
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