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Illinois Municipal Retirement Fund is searching for a general investing consultant to focus on its major asset classes. The fund disclosed the search at its February meeting, during which the pension board also said it committed $105 million to private equity funds. Candidates for the consulting contract have until March 26, 2019, to submit proposals. […]

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State of Michigan Investment Board committed $1.5 billion to private-markets investments in Q4, including $300 million to TPG Sixth Street Partners’ credit fund for late-stage growth companies. The board, which manages $69.5 billion in retirement-fund assets, has an 18 percent allocation to PE and an 11.5 percent allocation to real return and opportunistic investments, which […]

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Los Angeles County Employees Retirement Association at its January meeting approved $270 million in commitments. The system also gave an update on a secondary sale of a chunk of its PE portfolio. LACERA voted to commit up to $100 million to LAV Biosciences Fund V, which focuses on venture, growth and public equity in the […]

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Ohio Police & Fire Pension Fund plans to deploy $120 million to private equity this year, a 25 percent decrease from its pace last year, the pension said at its January meeting. The commitments would help sustain the pension’s private market program at or near its 8 percent target allocation, which it has reached, according to […]

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Eric Albertson is senior investment director in charge of secondaries at Aberdeen Standard Investments. He spoke with Buyouts about his firm’s approach to finding value in the secondary PE marketplace. Aberdeen tends to focus on the smaller end of the secondary market. What kinds of opportunities are you seeing? We will use secondaries sporadically throughout […]

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Pennsylvania State Employees’ Retirement System at its February meeting committed $225 million to private equity funds targeting North American, European and Chinese markets. The system committed $75 million to the third fund of Primavera Capital Group, the Chinese investment firm focused on PE and cross-border investments. PA SERS committed $75 million to Providence Equity’s fourth strategic growth fund, […]

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Emerging managers raised $1.6 billion over the past few weeks, continuing a late-winter lull. Four private equity firms and one venture firm raised over $100 million. GreatPoint Ventures outraised all firms with more than $245.6 million for its second innovation fund. The venture firm was founded by entrepreneurs. On the private equity side, Bonaccord wasn’t […]

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Texas Municipal Retirement System at its February meeting recommended $250 million in PE commitments to funds including the financial and tech sectors. If approved, the funds would fall in line with TMRS’s goal to add 15 funds in the next few years. As of January 2019, it had 35 PE funds in its portfolio, Buyouts previously […]

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Massachusetts Pension Reserves Investment Management Board approved a 1 percentage point increase in its target allocation to private equity at its February meeting, while also committing $480 million to new PE strategies. MassPRIM, which manages $69.3 billion in its pension trust, voted to increase its private equity allocation to 12 percent from 11 percent, with […]

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OMERS appointed Mark Shulgan to head the Canadian pension fund’s new growth-equity platform, Buyouts has learned. OMERS announced Shulgan’s hire as a managing director in September, though at the time did not mention the new strategy. He will now run OMERS Growth Equity, recently set up for long-term investing in high-growth companies committed to innovation in sectors like healthcare and tech, […]