Oregon defends paying high PE fees, commits to GenstarPosted: 03/14/2019 |
Subscription Required Oregon Treasury committed $350 million to private equity and credit investments, and its chief investment officer made the case that paying high PE fees has helped add billions to the state’s retirement fund over the years. The investment council, which manages the $74.5 billion state retirement fund and its $1.5 billion common school fund, committed […] | | Read more... | |
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NYC pension lifts EM program in PE by two-thirds to $1.5 blnPosted: 03/14/2019 |
Subscription Required New York City Retirement System added $600 million to its emerging-managers program in private equity, New York City Pension Fund and City Comptroller Scott Stringer said. The increase brings the program’s total assets to $1.5 billion. Total assets for small and emerging investment managers expanded to $8.8 billion across all asset classes, a 57 percent increase […] | | Read more... | |
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CalPERS seeks to refresh its pool of investment consultantsPosted: 03/13/2019 |
Subscription Required California Public Employees’ Retirement Plan published a request for proposals for investment consultants, seeking bids for general investment services and three specialized private-markets asset classes. The new contracts would begin in July 2020 and would enable CalPERS to refresh all its consulting contracts at once rather than issuing four separate RFPs on differing timelines. The $354 […] | | Read more... | |
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San Francisco pension forms relationship with Genstar, commits to impact investingPosted: 03/13/2019 |
Subscription Required San Francisco Employees’ Retirement System pledged $225 million to funds from ABRY Partners, Genstar Capital and TPG, according to a memo from CIO William Coaker prepared for its March 13 meeting. The pension invested $75 million in Genstar Capital Partners IX and Genstar IX Priority Co-invest program in January. The pool’s ninth fund received $56.2 […] | | Read more... | |
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Texas ERS considers changing PE performance benchmarkPosted: 03/12/2019 |
Subscription Required Employee Retirement System of Texas, like several other U.S. public systems, is considering changing the way it measures the performance of its private equity program, a recorded discussion from the system’s March meeting shows. The board wants to move from its current benchmark, MSCWI ACWI IMI plus 300 basis points, to Wilshire TUCS Peer Universe Benchmark. […] | | Read more... | |
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CalPERS seeks green light to set up captive PE fundsPosted: 03/12/2019 |
Subscription Required California Public Employees’ Retirement System will seek permission to proceed with the creation of two direct private equity funds, scheduling an initial vote on the concept for its March 18 investment committee meeting. The plan, discussed for nearly a year, would create a new CalPERS-controlled organization of two new funds with the pension system as […] | | Read more... | |
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LACERS clears path for higher commitments, secondary PE salesPosted: 03/11/2019 |
Subscription Required Los Angeles City Employees’ Retirement System approved an investment policy that raises the limits on commitment sizes, though the pension plans to “ease into” the higher commitments. The $17 billion retirement system at its Feb. 26 meeting approved three commitments totaling $95 million. The commitments were the first ones recommended by private equity consultant TorreyCove, which […] | | Read more... | |
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PA PSERS re-ups $150 mln to Searchlight’s latest flagshipPosted: 03/11/2019 |
Subscription Required Pennsylvania Public School Employees’ Retirement System at its March meeting committed more than $415 million in private equity, real estate and absolute return. PA PSERS committed $150 million to Searchlight Capital’s Fund III, which focuses on middle-market companies in communication services, IT, consumer discretionary and more in North America and Western Europe. Searchlight is targeting […] | | Read more... | |
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Illinois MRF kicks off search for investment consultant, commits to Clearlake, VersantPosted: 03/08/2019 |
Subscription Required 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. […] | | Read more... | |
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Michigan goes big: $1.5 bln to private markets in Q4Posted: 03/08/2019 |
Subscription Required 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 […] | | Read more... | |
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