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Massachusetts Pension Reserves Investment Management Board at its Nov. 29 meeting committed $105 million to two managers, investing in software-focused growth equity and venture capital. The $77.2 billion pension system approved a commitment of up to $75 million to JMI Equity Fund IX and $30 million to Flagship Pioneering Special Opportunities Fund II. MassPRIM had […]

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Illinois Municipal Retirement Fund’s board at its Dec. 14 meeting will consider reducing its assumed rate of investment returns, driven by concern about higher market volatility and decreasing returns across asset classes. The pension system has maintained 7.5 percent assumed returns for 25 years. This is the second time the pension system’s actuarial consultant, GRS Retirement […]

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Koch Equity Development, the investment arm of privately owned Koch Industries, is investing $500 million in family-owned Getty Images for a non-controlling stake in the stock-photo company. It’s unclear how big Koch’s holding is in Getty, which is laboring under a heavy debt load. The Getty family is retaining control over the company, a statement […]

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The $207 billion New York State Common Retirement Fund committed $200 million to Crestview Partners in September, adding a new manager to its roster of private equity partners. The fund, managed by State Comptroller Thomas DiNapoli, committed to Crestview Partners IV, which focuses on North American middle-market businesses within its core sector verticals. Crestview is a new […]

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New Mexico State Investment Council’s private equity portfolio increased by almost $400 million but commitments fell short of the pacing target in 2018. Contributions exceeded distributions by almost $100 million and the portfolio made gains of $300 million, said Richard Pugmire, managing director at Pavilion Alternatives Group, New Mexico SIC’s investment adviser, at the Nov. […]

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McNally Capital, a family office, began identifying ways to take advantage of a new federal tax rule meant to encourage investment in underserved communities by tracking Amazon’s search for its headquarters. The rule, included in the Tax Cuts and Job Acts in December 2017, allows private investors to roll their capital gains into a Qualified […]

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Armada Investment Group, Daniel Aegerter’s family office, is looking for growth and special situations investments to diversify its portfolio. Aegerter established his family office in 2000 after the sale of his U.S.-based company TRADEX Technologies to Ariba (that was subsequently acquired by SAP Technologies). Aegerter was only 31 years at the time and at $5.6 billion, […]

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McNally Capital, the family office of the McNally family, was founded in 2008 by Ward McNally. The family’s wealth comes from Rand McNally & Co, at one time the world’s biggest mapmaker. McNally’s direct investment portfolio includes Feddata, Dedicated Computing, Genesys Aerosystems, Europa Sports Products, ITS Logistics and Advanced Micro Instruments. Frank McGrew, managing director, […]

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Connecticut Treasurer-elect Shawn Wooden named Duane Hill, co-founder of TSG Capital Group, part of his 10-member transition committee to advise him on personnel, operational and policy-related matters. TSG, formerly Equico Capital Corp, was a minority enterprise small business investment company. The name change took place in 1994 when Hill, Equico’s president, and Cleveland Christophe, co-founder, led a […]

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New Hampshire Retirement System plans to stick with NEPC as its investment consultant, pending final approval by the board in December. NEPC has been general investment consultant for the $8.7 billion system since the start of 2013, and it will take a fee cut in exchange for a two-year extension. Originally signed to a three-year […]