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Emerging managers raised more than $3.3 billion in the past few weeks. Six private equity firms and one venture capital firm raised over $100 million. Sophomore opportunities funds seemed to be popular among active PE fundraisers. Perceptive Advisors led all money raised, closing its second credit opportunities fund at $675 million. Reverence Capital was just […]

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Schroder Adveq, a global asset manager, invests in U.S. small and middle-market buyouts through various strategies. Ethan Vogelhut, head of buyout investments Americas, spoke with ActiveLPs. What kind of managers does Schroder invest with? We invest in small- and middle-market buyouts because we believe they have better pricing and returns. We invest in primary, co-investment […]

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Many LPs requested co-investment deals this year, but few executed those opportunities in 2018, according to Hamilton Lane’s GP Dashboard for 2018/2019. More than 105 GPs, two-thirds (66 percent) of them from North America, with a total of $1.2 trillion assets in management, participated in the survey. Indeed, a majority of GPs whose LPs asked to see co-investment deals […]

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A central investment office would create synergies for assets managed by Pennsylvania Public School Employees’ Retirement System and Pennsylvania State Employees’ Retirement System. And the agencies should revisit and reduce their allocations to illiquids because the asset class could cause problems during volatile periods. These recommendations were announced Dec. 20 by Rep. Mike Tobash (R-Pennsylvania), […]

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California Public Employees’ Retirement System’s two new proposed private equity vehicles would need to be less transparent than the rest of the pension system to be able to properly make private investments, according to investment staff at the system’s December meeting. General Counsel Matthew Jacobs said at the CalPERS board meeting this month that too […]

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Texas Municipal Retirement System at its Dec. 6 meeting re-upped $50 million to Updata Partners’ sixth fund, targeting $300 million. The pension system, which started its PE program in late 2015, committed $457 million to 10 PE funds, 8.6 percent under its $500 million pacing for 2018. Eight commitments were re-ups while CapVest Partners and Main Post Partners were new relationships […]

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Rhode Island State Investment Commission at its Dec. 12 meeting re-upped $50 million to Nautic Partners’ ninth fund, targeting $1.25 billion. The re-up is substantially larger than its commitments to previous Nautic funds. The commission committed $20 million to each of Nautic’s fifth, sixth, seventh and eighth funds. “That’s the amount we have been commiting […]

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Public pensions tracked by Active LPs committed more than $2.3 billion to private equity funds during the fourth quarter of 2018. Florida State Board of Administration led the way, committing the most to private equity in the fourth quarter, according to our tallies. It committed $550 million across three funds: Hellman & Friedman IX, Gallatin […]

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Illinois Municipal Retirement Fund at its Dec. 14 meeting re-upped $75 million to Baring Private Equity Asia’s seventh fund, targeting $5.5 billion. The pension system had committed $75 million to Baring’s sixth fund, which raised $3.9 billion in 2014. Baring invests in middle and large company buyouts in Asia. Its sixth fund will invest $300 […]

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Family offices invest in emerging managers because they see greater opportunity to build meaningful relationships. “Ours is not the family office to come to if you are KKR or TPG,” said Forrest Tempel, partner at Reynolds Capital Partners, who spoke on a family office panel at Buyouts Insider’s PartnerConnect Texas conference Dec. 12. Reynolds Capital invests $1 million to $20 million and could be […]