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Spurred by declining growth worldwide and lower interest rates and returns, Asia-Pacific sovereign-wealth funds are increasingly allocating to alternative strategies. Most sovereign funds invest directly in private markets but will partner with specialist PE managers for new and esoteric strategies, a recent Cerulli Associates report said. Private equity firms with unique strategies, strong track records […]

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Pennsylvania Public School Employees’ Retirement System is mulling a re-up to Bain Capital’s fourth Asia fund, its October meeting agenda said. Bain Capital is targeting $4 billion for this fund, Reuters reported in April. The pension system committed $480 million to four Bain funds over the years. PA PSERS committed $130 million to Bain’s third […]

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Investors in third-quarter 2018 were simultaneously frustrated by the power held by in-demand general partners and yet competing for their approval across a wide variety of fund types. GPs raised $135.8 billion over the first three quarters of 2018, versus $174.9 billion in the year-earlier period. While 2018 isn’t on pace to match 2017’s frenzied […]

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Stanford University’s investment portfolio generated an 11.3 percent return as of June 30, 2018, down almost 14 percent from the previous-year return of 13.1 percent. While Stanford beat Harvard University, which generated returns of 10 percent, it did not perform as well as other peers. Massachusetts Institute of Technology returned 13.5 percent, University of Pennsylvania returned 12.9 percent, Yale University returned 12.3 […]

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Public pensions tracked by Active LPs committed more than $5.9 billion to private equity funds in Q3. Massachusetts Pension Reserves Investment Management Board led the way, committing at least $600 million in the third quarter. During the quarter it backed Hellman & Friedman IX, Lovell Minnick Equity Partners V and TCV X. New Jersey Division […]

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Arizona Public Safety Personnel Retirement System is mulling a $45 million re-up to  Castle Creek Capital’s seventh fund. The pension system also finalized a $40 million direct commitment and a $20 million co-investment reserve to Littlejohn & Co’s sixth fund. In addition, it committed $50 million and a $20 million co-investment reserve to Vivo Capital’s ninth fund in July/August, its […]

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Boosted by good performance and increased demand for investment talent, chief investment officer salaries at family offices increased 14 percent in 2018. The majority of CIOs were paid a mix of discretionary and formulaic bonuses and received additional non-cash benefits. Seventy-eight percent of CIO roles were held by non-family members. Ninety-two percent of the CIOs […]

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California Public Employees’ Retirement System, the largest pension system in the country and a major investor in private equity, has a leadership controversy on its hands. CalPERS has dealt with its share of leadership scandals. The latest situation involves its chief executive, Marcie Frost, who has been accused of falsifying her educational background on a document […]

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Yale University endowment’s leveraged buyouts portfolio beat previous-year returns and received a higher allocation for 2019. The LBO portfolio returned 10.1 percent over 10 years as of June 30, 2018, up from 8.8 percent for the year-earlier period. It returned 12.1 percent over 20 years as of the same date, a news release said. Yale expected LBOs […]

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Orange County Employees’ Retirement System is negotiating two private equity commitments that would put it at $330 million in total commitments to the asset class for the year, meeting its target for 2018. OCERS plans to commit $75 million to a large tech buyout fund and $25 million to a large generalist buyout fund, according […]