CalPERS plays down ambitious plan to become direct PE investorPosted: 11/13/2018 |
Subscription Required California Public Employees’ Retirement System clarified goals for a revamp of its private equity investing, saying its proposed “direct” investment vehicles will work exactly like a “tried and true” separately managed account. CalPERS has been grappling with how to keep its PE allocation near its 10 percent target, which would require a commitment pace of […] | | Read more... | |
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San Diego city pension aims to commit $125 mln in fiscal 2019Posted: 11/13/2018 |
Subscription Required The $8 billion San Diego City Employees’ Retirement System expects to commit $125 million to private equity and infrastructure funds through a StepStone-managed account, triple the $39 million StepStone allocated in the past year. SDCERS commits to PE and infrastructure through two accounts, one managed by StepStone and one by GCM Grosvenor. Each manager is responsible […] | | Read more... | |
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CPPIB emerges as buyer of $1.7 bln Ontario Teachers’ PE portfolioPosted: 11/13/2018 |
Subscription Required A big secondaries deal just went down north of the border: Canada Pension Plan Investment Board bought a portfolio of private equity stakes valued at about US$1.7 billion sold by Ontario Teachers’ Pension Plan, sources told Buyouts. The deal was done by CPPIB’s North American team, one source said. Greenhill Cogent was secondary adviser on the deal. […] | | Read more... | |
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CalSTRS pushes for more diversity in its investment portfolioPosted: 11/13/2018 |
Subscription Required California State Teachers’ Retirement System wants to see diversity throughout an investment firm, not just among ownership, according to its CIO. CalSTRS prides itself on its pursuit of diversity, but its old policies need to be updated to account for broadening definitions that now commonly include groups like Pacific Islanders and sexual orientation groups, CIO […] | | Read more... | |
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Cresset, led by ex-Willis Stein, Sterling Partners execs, forms impact-related partnershipPosted: 11/12/2018 |
Subscription Required Cresset Capital, formed by ex-Willis Stein and Sterling Partners executives, formed a partnership to take advantage of a government program meant to encourage investment in low-income communities. Cresset-Diversified QOZ Fund, a partnership of Cresset and LCM Opportunity, closed its first deal and will hold a first close by early December. The fund, targeting $500 million, aims […] | | Read more... | |
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Fresh Profile: Simon Group wants to work with entrepreneursPosted: 11/09/2018 |
Subscription Required Sam Simon’s family office Simon Group Holdings acquired a company in the military and defense sector, has invested in energy technology and provided capital for real estate projects in the last two months. Expect more from Simon’s family office that was set up in 2006 but started investing in earnest in 2013. Simon Group invests in private equity […] | | Read more... | |
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University of New Hampshire commits to Sun Capital and Greenspring, mulls CIOPosted: 11/08/2018 |
Subscription Required University System of New Hampshire committed a combined $10 million to funds from Sun Capital Partners and Greenspring Associates at its Oct. 25 finance committee for investments meeting. The university committed $5 million to Sun Capital in what is a new relationship. Sun Capital is targeting $2.2 billion for its seventh fund, not much more […] | | Read more... | |
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Meet the new LP calling the shots in ConnecticutPosted: 11/07/2018 |
Subscription Required Fundraising GPs should add a new name to their Rolodex: Shawn Wooden, Connecticut’s Treasurer-elect who defeated Republican Thad Gray Nov. 6. Connecticut gives its treasurer final say on investment decisions, making it one of the last states to leave that power in the hands of a single person, as opposed to a board. So Wooden, […] | | Read more... | |
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Muller & Monroe raising second emerging manager fund for CalSTRSPosted: 11/06/2018 |
Subscription Required Muller & Monroe Asset Management’s new emerging manager fund for the California State Teachers’ Retirement System raised $251.25 million, according to a Form D. Muller & Monroe is part of CalSTRS’s emerging managers strategy. Other managers that work on the strategy are Bank of America’s Capital Access Funds Management (later acquired by HarbourVest Partners) and Invesco Capital Partners. CalSTRS committed $250 […] | | Read more... | |
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PE industry mourns death of LP pioneer Jay FewelPosted: 11/06/2018 |
Subscription Required John Bullock “Jay” Fewel, who led private equity for the Oregon state treasury for many years and was considered one of the pioneering limited partners, died on Oct. 13. He was 63. Fewel spent 25 years at the treasury, starting his career in 1989 and retiring in 2014. Fewel helped grow Oregon’s alternatives program, particularly […] | | Read more... | |
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