CalSTRS adds new PE benchmarks, discusses hiring plansPosted: 05/09/2019 |
Subscription Required California State Teachers’ Retirement System approved new benchmarks for its private equity investments, hoping to better capture its expected returns from fund-of-fund mandates and new strategies like long-hold investments. The CalSTRS investment committee approved the PE policy at its May 8 meeting, updating benchmarks for three traditional PE-asset classes — buyout, venture capital and debt-related — as […] | | Read more... | |
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LeapFrog hauls in $700 mln for Fund III, expands FO exposurePosted: 05/09/2019 |
Subscription Required LeapFrog Investments closed its third fund on $700 million, beating its original target, with a plan to continue its goal of making impact investments in Africa and Asia. The fund, which LeapFrog called the largest-ever PE fund by a dedicated impact-fund manager, has already made five investments: WorldRemit, a digital remittances company, NeoGrowth, an India-focused credit […] | | Read more... | |
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SF to boost investment team, eyes more co-investingPosted: 05/08/2019 |
Subscription Required San Francisco Employees’ Retirement System plans to increase its investment staff by 73 percent in the next six years, citing strong investment results, the system said at its April meeting. Part of that increase would stem from the system expanding its PE co-investments. Over 10 years, SFERS will be seeking more co-investments and expects their size to increase […] | | Read more... | |
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Florida to lift in-state tech-investment fund to $1 blnPosted: 05/07/2019 |
Subscription Required Florida State Board of Administration is lining up a $125 million commitment that would push up its in-state technology investment program to $1 billion. Hamilton Lane is responsible for most of Florida Growth Fund, which covers venture, growth and mezzanine debt investments in private businesses with significant presence in Florida. A planned new commitment would […] | | Read more... | |
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CalPERS again extends deadline for consultant proposalsPosted: 05/07/2019 |
Subscription Required California Public Employees’ Retirement System extended its request for proposals for investment consultants by almost a week, the second extension that the $354 billion system made in two months. The deadline was extended from to May 22 from May 17, a memo by Jennifer Renda, CalPERS’s contracts officer, shows. Proposals originally were due April 30, […] | | Read more... | |
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Family offices looking to farmland for stable investmentsPosted: 05/06/2019 |
Subscription Required For family offices, where maintaining wealth is often a top priority, investing in farmland has made good sense for the past few years. “Farmland always has a rent,” said Chris Morris, co-founder and managing director of LandFund Partners, a Nashville investment firm that buys land primarily in Mississippi and Arkansas. “Farmland is a productive asset; […] | | Read more... | |
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Florida SBA in Q1: Pledges in 3 currencies total $247 mlnPosted: 05/03/2019 |
Subscription Required Florida State Board of Administration committed $247 million to five private equity funds during the first quarter of 2019. Q1 Board commitments include: 286 million Swedish kronor ($30 million) to Summa Equity’s second fund. The fund closed in February at a hard cap of $681 million. Summa Equity II focuses on Nordic and European companies […] | | Read more... | |
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NYS Common commits $650 mln to Blackstone and Freeman SpogliPosted: 05/02/2019 |
Subscription Required New York State Common Retirement Fund at its March meeting committed $650 million to private equity funds focused in North American, European and Asian markets. The board pledged $150 million to FS Equity Partners VIII, a middle-market consumer and distribution fund from Freeman Spogli & Co. CRF committed $500 million to Blackstone Group’s global private […] | | Read more... | |
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Forbes Family Trust open to further expansion after Optima, AM Global dealsPosted: 05/02/2019 |
Subscription Required Forbes Family Trust grabbed headlines last week when it acquired Optima Fund Management, just months after buying AM Global Family Investment Office. When Active LPs asked CEO Keith Bloomfield if any more acquisitions were on the horizon, he did not rule it out. “Currently we have no plans to do so, but we’re always open to […] | | Read more... | |
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Cresset acquires Cypress, hints at future OZ deals in the worksPosted: 05/02/2019 |
Subscription Required Cresset Asset Management said Thursday it acquired the San Francisco registered investment adviser Cypress Wealth Advisors. Terms weren’t disclosed. Barbara Young, Cypress’s founder, CEO and CIO, will become a partner at Cresset. Cypress adds more than $500 million in AUM, Cresset said. This acquisition comes a few weeks after Cresset acquired Evanston Advisors, which also had […] | | Read more... | |
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