Prescott Group’s first PE fund attracts big family officePosted: 11/15/2018 |
Subscription Required Prescott Group, a real estate investment firm, is raising its first private equity fund, with a hard cap of $250 million. Among its early investors is a $6 billion family office that committed $25 million to the fund, a source familiar with the fund said. About 90 percent of the fund will be used to […] | | Read more... | |
|
SF Equity Partners transitions from independent sponsor, raises PE fundPosted: 11/15/2018 |
Subscription Required San Francisco Equity Partners, transitioning from a family-backed independent sponsor to a private equity firm, is raising a fund targeting $125 million, according to a Form D. The firm, led by Scott Potter, began as a European family-backed independent sponsor in 2005, a source familiar with the firm said. Later, the firm began seeking additional […] | | Read more... | |
|
Blackstone buys ~$1 bln PE portfolio from LACERAPosted: 11/15/2018 |
Subscription Required Blackstone Group acquired a portfolio of private equity stakes valued at about $1 billion from Los Angeles County Employees’ Retirement Association, sources told Buyouts. Greenhill Cogent was secondary adviser on the deal. Blackstone’s secondaries group, Strategic Partners, acquired the portfolio. Exactly what’s in the portfolio is unclear. LACERA’s request for proposals said it had about 130 […] | | Read more... | |
|
CalPERS commits ~$1.5 bln to PE in August and SeptemberPosted: 11/14/2018 |
Subscription Required California Public Employees’ Retirement System in August and September committed about $1.5 billion to five private equity funds, including $650 million to Hellman & Friedman’s latest fund, documents show. The $350 billion pension fund has grappled with a range of new approaches to private equity to meet an allocation target of 10 percent, but it continues to […] | | Read more... | |
|
Emerging Manager Roundup: ICONiQ, SGG, BlackGold, Greenspring and morePosted: 11/14/2018 |
Subscription Required Emerging managers raised more than $1.6 billion in the past few weeks. Eight firms raised over $100 million, six of which were private equity firms. ICONiQ, which has powerful Silicon Valley executive connections such as Mark Zuckerberg, out-raised all other emerging managers. Its third co-investment vehicle raised over $224 million. With its acquisition of Cim […] | | Read more... | |
|
Ardian picks up billion-dollar-plus portfolio from Florida SBAPosted: 11/14/2018 |
Subscription Required Ardian acquired a portfolio of mostly private equity stakes, and a small amount of venture, from Florida State Board of Administration, sources told Buyouts. The portfolio was valued at around $1.3 billion, sources said. Evercore was secondary adviser on the deal, which hit the market in October, Buyouts reported. Florida packaged some strong buyout-fund exposure in the […] | | Read more... | |
|
CalPERS plays down ambitious plan to become direct PE investorPosted: 11/13/2018 |
Subscription Required California Public Employees’ Retirement System clarified goals for a revamp of its private equity investing, saying its proposed “direct” investment vehicles will work exactly like a “tried and true” separately managed account. CalPERS has been grappling with how to keep its PE allocation near its 10 percent target, which would require a commitment pace of […] | | Read more... | |
|
San Diego city pension aims to commit $125 mln in fiscal 2019Posted: 11/13/2018 |
Subscription Required The $8 billion San Diego City Employees’ Retirement System expects to commit $125 million to private equity and infrastructure funds through a StepStone-managed account, triple the $39 million StepStone allocated in the past year. SDCERS commits to PE and infrastructure through two accounts, one managed by StepStone and one by GCM Grosvenor. Each manager is responsible […] | | Read more... | |
|
CPPIB emerges as buyer of $1.7 bln Ontario Teachers’ PE portfolioPosted: 11/13/2018 |
Subscription Required A big secondaries deal just went down north of the border: Canada Pension Plan Investment Board bought a portfolio of private equity stakes valued at about US$1.7 billion sold by Ontario Teachers’ Pension Plan, sources told Buyouts. The deal was done by CPPIB’s North American team, one source said. Greenhill Cogent was secondary adviser on the deal. […] | | Read more... | |
|
CalSTRS pushes for more diversity in its investment portfolioPosted: 11/13/2018 |
Subscription Required California State Teachers’ Retirement System wants to see diversity throughout an investment firm, not just among ownership, according to its CIO. CalSTRS prides itself on its pursuit of diversity, but its old policies need to be updated to account for broadening definitions that now commonly include groups like Pacific Islanders and sexual orientation groups, CIO […] | | Read more... | |
|
