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Boosted by good performance and increased demand for investment talent, chief investment officer salaries at family offices increased 14 percent in 2018. The majority of CIOs were paid a mix of discretionary and formulaic bonuses and received additional non-cash benefits. Seventy-eight percent of CIO roles were held by non-family members. Ninety-two percent of the CIOs […]

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California Public Employees’ Retirement System, the largest pension system in the country and a major investor in private equity, has a leadership controversy on its hands. CalPERS has dealt with its share of leadership scandals. The latest situation involves its chief executive, Marcie Frost, who has been accused of falsifying her educational background on a document […]

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Yale University endowment’s leveraged buyouts portfolio beat previous-year returns and received a higher allocation for 2019. The LBO portfolio returned 10.1 percent over 10 years as of June 30, 2018, up from 8.8 percent for the year-earlier period. It returned 12.1 percent over 20 years as of the same date, a news release said. Yale expected LBOs […]

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Orange County Employees’ Retirement System is negotiating two private equity commitments that would put it at $330 million in total commitments to the asset class for the year, meeting its target for 2018. OCERS plans to commit $75 million to a large tech buyout fund and $25 million to a large generalist buyout fund, according […]

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Texas Municipal Retirement System at its Sept 27-28 meeting committed $110 million to sophomore funds from Tritium Partners and Main Post Partners. The pension system re-upped $60 million to Tritium’s second fund targeting $375 million. This fund will make 12 to 14 control investments in U.S.-based middle-market growth/buyouts companies in internet/information services, supply chain/logistics and business/financial services businesses. Tritium will invest $15 […]

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North Dakota State Investment Board sold a $25 million commitment in Corsair Capital’s fourth fund to Hamilton Lane, a source close to the pension system confirmed. North Dakota pension trust’s PE portfolio has underperformed mainly because of investments made before 2013, David Hunter, the pension system’s CIO, has told ActiveLPs. “Although the North Dakota State Investment Board generally […]

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Emerging managers raised nearly $1.8 billion in the past few weeks. Seven firms raised over $100 million. Balance Point Capital raised over $375 million toward the $400 million hard cap for its third flagship fund. The firm focuses in the lower-middle market. Caspian Private Equity, focused on U.S. private equity and real estate markets, raised […]

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New Hampshire Retirement System at its Sept. 21 meeting committed $100 million to funds from Warburg Pincus and Thoma Bravo. NHRS re-upped $50 million to Warburg Pincus Global Growth Fund. Technically its 13th flagship fund, Warburg’s growth fund could raise up to $15 billion and hold a final close this year, Buyouts reported in March. […]

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Alaska Permanent Fund Corp named its director of investments, real assets and absolute return, Marcus Frampton, chief investment officer. Frampton, who joined Alaska Permanent in 2012, had taken over as interim CIO after Russell Read resigned in July to pursue an opportunity in London. The search for CIO included outside candidates, and “after considering many highly qualified […]

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John Ruffolo, CEO of OMERS Ventures, is leaving the firm, Ontario Municipal Employees Retirement System said. Ruffolo, who is also leaving his role as executive managing director of OMERS Platform Investments, the pension system’s innovation arm, will remain in an advisory capacity until Dec. 31, the statement said. The statement did not indicate why Ruffolo is stepping down. Ruffolo founded […]