PA SERS commits $100 mln to new TSG relationshipPosted: 10/25/2018 |
Subscription Required Pennsylvania State Employees’ Retirement System’s board at its Oct. 23 meeting moved to commit up to $100 million to TSG Consumer Partners’ eighth fund. This is a new relationship for the pension system, part of its strategy of making fewer and larger commitments to best-in-class funds, according to PA SERS’s 2018-19 investment plan. How much TSG8 […] | | Read more... | |
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Tricor Pacific Capital renews brand with unveiling of family officePosted: 10/25/2018 |
Subscription Required Tricor Pacific Capital, which for nearly two decades operated as a North American private equity investor, has returned to the market as a family office. The new Tricor, led by Managing Partner Rod Senft, who co-founded the PE firm in 1996, was officially unveiled this week. Its goal is to invest Senft family and partner capital […] | | Read more... | |
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PA PSERS releases its first carried-interest report; GPs earned 19.4 pctPosted: 10/24/2018 |
Subscription Required Pennsylvania Public School Employees’ Retirement System issued its first carried-interest report and said its GPs earned 19.41 percent of investment profits as carry from the program’s 1985 inception through 2017. The report, presented by Chief Investment Officer James Grossman at the Oct. 12 board meeting, reflects the agency’s continued execution on a 2017 plan to […] | | Read more... | |
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More funds sprout in Asia, but LPs still want North American PEPosted: 10/23/2018 |
Subscription Required GPs are raising more and more Asia-focused funds, but LPs remained focused on pursuing North American private equity opportunities, according to recent research from Preqin. In its latest quarterly report on PE and venture capital, Preqin found that 44 percent of all funds in market are targeting Asia, including six of the 10 largest funds, […] | | Read more... | |
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San Diego stressed by Blackstone’s New Mountain stakePosted: 10/22/2018 |
Subscription Required Blackstone has acquired a 9 percent stake in private equity firm New Mountain Capital, and one LP says that the move speaks to an overheated market for private equity deals. San Diego County Employees’ Retirement Association has spoken recently about its hesitance to put more money into PE while valuations are high and limited partners are hungry […] | | Read more... | |
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Sacramento pension puts Carlyle on watchlist over Asia real estate movePosted: 10/22/2018 |
Subscription Required Sacramento County Employees’ Retirement System added Carlyle Group to its watchlist following the firm’s decision to exit the Asia real estate business by year-end. Investment managers on the watchlist are subject to enhanced scrutiny and even termination upon board approval of a staff recommendation, according to pension documents. Carlyle manages multiple closed-end opportunistic real estate funds […] | | Read more... | |
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Five Questions with Andrew Bernstein of Capital DynamicsPosted: 10/19/2018 |
Subscription Required Andrew Bernstein, managing director and co-head of private equity at Capital Dynamics, is at the helm of expanded initiatives at the $15 billion global asset manager. How do you define the middle market? Our focus, across all strategies, remains in middle-market funds. We are not so concerned with the overall fund size. Instead we focus […] | | Read more... | |
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Ohio PERS lowers return expectation to 7.2 pctPosted: 10/18/2018 |
Subscription Required The $101.4 billion Ohio Public Employees Retirement System has lowered its pension plan’s assumed rate of investment return to 7.2 percent from 7.5 percent, based on a more pessimistic near-term view of the capital markets. OPERS also reduced the assumed rate of return for its Health Care Fund, to 6 percent from 6.5 percent. The lower […] | | Read more... | |
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Fairview Capital loses third partner in two years — but not faith of Connecticut pensionPosted: 10/18/2018 |
Subscription Required Fairview Capital has lost its third partner in two years — but not the faith of a key LP. Doug Boains is the latest; he departed in August after nearly a dozen years with the firm. The departures have raised concern at Connecticut Retirement Plans and Trust Funds, which has invested $743 million in Fairview across six […] | | Read more... | |
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Smith family does first direct investment, plans two deals a yearPosted: 10/17/2018 |
Subscription Required Hillcrest Holdings, the holding company for the Midwest-based Smith family, has acquired Converged Security Solutions, its first investment outside of its traditional trucking business. Hillcrest partnered with independent sponsor Akoya Capital on the deal. Herald and Miriam Smith started Cedar Rapids Steel Transport out of a refurbished chicken coop in 1955. From there Cedar Rapids, or CRST International as […] | | Read more... | |
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