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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Emerging Manager Roundup: Morningside, Maiora, Samantha WangPosted: 10/17/2018 |
Subscription Required Emerging managers raised at least $2 billion in the past few weeks. Venture capital led the way, raising more than $1.1 billion. Hong Kong-based Morningside Ventures made up most of that venture fundraising. It raised more than $700 million across three funds. On the public equity front, no fund raised as much as Maiora Asset […] | | Read more... | |
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Commonfund adds $100 mln in feeder to recently closed fundPosted: 10/16/2018 |
Subscription Required Commonfund Capital raised additional capital for a feeder to its recently closed fund and sophomore secondary and co-investment funds, according to SEC Form D filings. Commonfund’s Capital Venture Partners XII feeder fund raised $100 million from one investor, the filing said. Its 12th venture capital fund closed at $432 million in October, Buyouts reported. Commonfund is […] | | Read more... | |
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Montana sells chunk of PE portfolio, backs two new fundsPosted: 10/15/2018 |
Subscription Required Montana Board of Investments recently sold off a $70 million chunk of its private equity portfolio, part of an overall plan to reduce its exposure to funds of funds that were used to build out its portfolio in the previous decade. The board, which manages $11.2 billion in its consolidated asset pension pool, also made […] | | Read more... | |
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