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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Connecticut mulls $100 million for VC funds and startupsPosted: 10/15/2018 |
Subscription Required Connecticut State Treasurer Denise Nappier is mulling a $100 million re-up to Constitution V Fund, which invests in venture capital funds. The fresh commitment would create two additional investment pools in the existing Constitution Fund V, according to documents from the treasurer’s office. The $150 million Constitution Fund V, split into two parts called Series […] | | Read more... | |
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Fresh Profile: Hicks family office’s PE arm raises funds for food and beverage investmentsPosted: 10/12/2018 |
Subscription Required Hicks Equity Partners, the private equity arm of Thomas Hicks’s holding company Hicks Holdings, raised more than $24 million for two specialty funds, a Form D said. Hicks became famous for the Dr Pepper deal his PE firm, Hicks & Haas, executed in the 1980s. And he faced intense media scrutiny later for his sports investments in the Texas Rangers, Dallas Stars, Liverpool soccer […] | | Read more... | |
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Iowa PERS hires Kalytix, begins process for internal investment managementPosted: 10/10/2018 |
Subscription Required Iowa Public Employees’ Retirement System hired Kalytix Partners for consulting services to set up its internal investment management system, a press release said. The pension system issued a request for proposal in April. The three finalists were C&A Consulting, Funston Advisory and Kalytix. IPERS awarded the contract to Kalytix for a flat fee of $110,000 […] | | Read more... | |
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