OPZ Bernstein courts FOs in big opportunity-zones pushPosted: 04/23/2019 |
Subscription Required OPZ Bernstein, part of Bernstein Cos of Washington, looks to make a big splash on opportunity zones, and family offices have a huge role to play. The firm recently closed its first deal, a $50 million so-called adaptive-reuse project in Cincinnati, changing an office building into multifamily housing. “We’ve already funded our first opportunity-zone investment,” said Craig […] | Read more... | |
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Iowa to commit up to $700 mln in PE in 2019Posted: 04/22/2019 |
Subscription Required Iowa Public Employees’ Retirement System at its March meeting authorized Pathway Capital Management, its sole PE manager, to commit up to $700 million to the asset class for 2019, an investment-board meeting agenda shows. Pathway has already pledged more than a third ($263 million) of the allotted fund to Pathway Private Equity Fund XXV, IPERS […] | Read more... | |
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Single-family offices more interested in alternatives, PE than multi-family offices: studyPosted: 04/19/2019 |
Subscription Required Single family offices are allocating about 60 percent of their assets to alternatives, compared to 44 percent for multi-family offices, according to a study released last month by Family Wealth Report, sponsored by FundCount. Overall, the study, examining 44 family offices worldwide, mostly in North America, found an average 53 percent exposure to alternatives. Private […] | Read more... | |
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New Mexico ERB backs Raine Group’s third fundPosted: 04/19/2019 |
Subscription Required New Mexico Educational Retirement Board at its April meeting committed $40 million to a Raine Group growth equity fund, Bob Jacksha, the system’s chief investment officer, told Buyouts. Raine Partners III focuses on entertainment, gaming, sports, lifestyle and digital media and internet companies in North America. Raine Group’s third fund received a $75 million commitment […] | Read more... | |
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Washington State commits $2.6 bln to private marketsPosted: 04/19/2019 |
Subscription Required Washington State Investment Board committed $2.6 billion to private markets, including a two large re-ups and a new partnership with a renewable energy fund. At its April 18 meeting, Washington reported three commitments under delegated staff authority and two partnerships that had been vetted by its private markets committee. Under delegated staff authority, Washington committed […] | Read more... | |
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Beninvest FO makes innovative blockchain push with DiamHoldingPosted: 04/18/2019 |
Subscription Required Inserting a unique nano-sized identifier in a diamond may seem to the layman like an unusual project, but for Benoit J.P. Flammang, a longtime private investor and one of the partners at Beninvest, his single-family office, it made perfect sense. “I’m personally linked, not active, but linked to the jewelry industry,” Flammang told Active LPs. […] | Read more... | |
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Missouri school pension slows PE pacing after $1 bln pledge in 2018Posted: 04/17/2019 |
Subscription Required Missouri school pension system plans to commit up to $825 million to private equity funds and co-investments in 2019, after committing more than $1 billion to the asset class in 2018. Public School and Education Employee Retirement Systems of Missouri, which has a combined $44 billion in assets, hired Pathway Capital Management to oversee its […] | Read more... | |
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South Carolina looks for fee savings in co-investments, secondariesPosted: 04/16/2019 |
Subscription Required South Carolina Retirement System Investment Commission plans to reduce its private equity fees by committing more to co-investments and secondaries. The system said a new co-investment platform will help move the needle on fees. CIO Geoffrey Berg said at the commission’s April 11 meeting that the state had recently concluded negotiations on a co-investment platform with […] | Read more... | |
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Stonehage Fleming adds ex-Lehman exec Becton Davis to financial teamPosted: 04/16/2019 |
Subscription Required The U.K. family office Stonehage Fleming said it hired Becton Davis as a group chief financial officer. He has been with Stonehage since February, according to his LinkedIn page. Davis comes to Stonehage Fleming after seven years as CFO at Close Brothers Asset Management. Before that, Davis was a vice president at Lehman Brothers from 2003 to […] | Read more... | |
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Connecticut Backs WCAS flagship fundPosted: 04/16/2019 |
Subscription Required Connecticut Office of the State Treasurer at its April meeting considered a $125 million commitment to Welsh, Carson, Anderson & Stowe’s 13th fund, according to a letter by State Treasurer Shawn Wooden. WCAS XIII is a North American buyout fund focused on middle-market healthcare and technology companies, targeting $3.75 billion with a $4 billion hard cap, a […] | Read more... | |
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