Michigan pension system aims to lift PE exposure in ’19Posted: 01/03/2019 |
Subscription Required State of Michigan Investment Board at its December meeting reported $435 million in third-quarter PE commitments, aiming to increase its exposure to the asset class in 2019. The board, which manages $73.1 billion in assets in four state retirement plans, set an 18 percent target allocation to private equity for 2019. It just about reached […] | | Read more... | |
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Ohio P&F, keeping focus on middle market, re-ups to Harvest PartnersPosted: 01/02/2019 |
Subscription Required Ohio Police & Fire Pension Fund maintained its focus on the middle market, ending 2018 with a $50 million re-up to Harvest Partners’ eighth fund, targeting $3.25 billion. The pension system committed more than 60 percent of its $160 million private-markets allocation to middle-market private equity funds. This included $30 million to Littlejohn & Co’s sixth fund, […] | | Read more... | |
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San Bernardino pledges $40 mln to Aberdeen secondaries fund, clears pacing planPosted: 12/28/2018 |
Subscription Required San Bernardino County Employees’ Retirement Association’s investment committee committed $40 million to a PE secondaries fund managed by Aberdeen Standard Investments, while also approving a pacing plan that would commit another $500 million to the asset class in 2019. The $10.4 billion retirement plan has a target allocation of 16 percent to private equity with […] | | Read more... | |
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Endowments eye special situations, growth equity for 2019Posted: 12/27/2018 |
Subscription Required Endowments and foundations are optimistic about private markets going into 2019 and they view special-situations and growth-equity strategies as offering the most medium-term upside, a recent survey by NEPC shows. Endowments and foundations remain fairly bullish on private equity, although expectations seem to have tempered a bit: 51 percent of respondents said PE would outperform other […] | | Read more... | |
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Fresh Profile: Arlon Group invests in potatoes, pizzas and all things foodPosted: 12/27/2018 |
Subscription Required Arlon Group is the investment office of the Fribourg family, reportedly one of the oldest business dynasties in New York. Simon Fribourg in 1813 founded a small grain-trading company in Arlon, Belgium. More than a century later the family brought Continental Grain Co to the U.S. with an office in New York and a seat on the Chicago Board of Trade […] | | Read more... | |
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Emerging Manager Roundup: Perceptive, Reverence, ADV, Matrix and morePosted: 12/26/2018 |
Subscription Required Emerging managers raised more than $3.3 billion in the past few weeks. Six private equity firms and one venture capital firm raised over $100 million. Sophomore opportunities funds seemed to be popular among active PE fundraisers. Perceptive Advisors led all money raised, closing its second credit opportunities fund at $675 million. Reverence Capital was just […] | | Read more... | |
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Five Questions with Ethan Vogelhut of Schroder AdveqPosted: 12/26/2018 |
Subscription Required Schroder Adveq, a global asset manager, invests in U.S. small and middle-market buyouts through various strategies. Ethan Vogelhut, head of buyout investments Americas, spoke with ActiveLPs. What kind of managers does Schroder invest with? We invest in small- and middle-market buyouts because we believe they have better pricing and returns. We invest in primary, co-investment […] | | Read more... | |
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LPs feel pressure to close in primary, co-investing commitments as speed is seen as keyPosted: 12/21/2018 |
Subscription Required Many LPs requested co-investment deals this year, but few executed those opportunities in 2018, according to Hamilton Lane’s GP Dashboard for 2018/2019. More than 105 GPs, two-thirds (66 percent) of them from North America, with a total of $1.2 trillion assets in management, participated in the survey. Indeed, a majority of GPs whose LPs asked to see co-investment deals […] | | Read more... | |
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Commission urges PA pensions to reduce illiquids, create central investment officePosted: 12/20/2018 |
Subscription Required A central investment office would create synergies for assets managed by Pennsylvania Public School Employees’ Retirement System and Pennsylvania State Employees’ Retirement System. And the agencies should revisit and reduce their allocations to illiquids because the asset class could cause problems during volatile periods. These recommendations were announced Dec. 20 by Rep. Mike Tobash (R-Pennsylvania), […] | | Read more... | |
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CalPERS staff calls for less transparency for proposed in-house PE programPosted: 12/19/2018 |
Subscription Required California Public Employees’ Retirement System’s two new proposed private equity vehicles would need to be less transparent than the rest of the pension system to be able to properly make private investments, according to investment staff at the system’s December meeting. General Counsel Matthew Jacobs said at the CalPERS board meeting this month that too […] | | Read more... | |
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