Fresh Profile: AGI Partners and its buy-and-build strategyPosted: 05/17/2019 |
Subscription Required AGI Partners is a lower-middle-market-focused independent sponsor pursuing what Partner David Acharya, calls a “very simple” strategy: buy and build. “We find a good platform company; we find a good management team. Then we find complementary add-ons, but we also focus on overall value creation,” he told Active LPs. AGI makes direct investments into TMT, business marketing services […] | | Read more... | |
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Fresh Profile: Breakwater Investments likes emerging credit managers, partnering with other FOsPosted: 05/17/2019 |
Subscription Required Breakwater Investments is the family office for Canada’s McKeil family, created after they sold their 60-year-old marine-transportation business to TorQuest Partners in 2016. Much of Breakwater’s work reflects the family’s nautical background — it helps run a shipyard business the family still owns, with five locations in Ontario and eastern Canada. “We’re involved in ensuring […] | | Read more... | |
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Carlyle’s Rubenstein touts EM investment, explains launch of FOPosted: 05/17/2019 |
Subscription Required David Rubenstein, co-executive chairman of Carlyle Group, said the time is right for investors to put their money in emerging markets. “The bloom is off the rose” for emerging markets, which means the segment is right for contrarian bets, he said in a keynote speech this week at the EMPEA/IFC Global Private Equity conference in […] | | Read more... | |
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Virginia Retirement creates $150 mln credit mandate with KKRPosted: 05/16/2019 |
Subscription Required Virginia Retirement System at its May 13 meeting said it made commitments to and terminated its relationship with funds within its credit-strategies program, the system’s communications strategy manager, Virginia Sowers, told Active LPs. The system committed $150 million to KKR’s Real Estate Credit Opportunity Partners Fund II, which “invests in the junior bonds… of commercial mortgage-backed […] | | Read more... | |
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Chaifetz Group of Chicago looks to keep investments close to homePosted: 05/15/2019 |
Subscription Required Chaifetz Group is based in Chicago, on one of the seven floors in NBC Tower claimed by ComPsych, the employee-assistance-program provider founded by Richard Chaifetz and the source of the wealth this multibillion-dollar single-family office has managed and invested since it was founded in 2010. Ross Chaifetz, Richard’s son and director of venture capital at […] | | Read more... | |
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CalPERS developing a plan to reboot PE co-investmentsPosted: 05/14/2019 |
Subscription Required California Public Employees’ Retirement System in June will present the board with a new co-investment strategy, including a new method for vetting co-investment opportunities and deciding how active to be on a deal, according to CIO Ben Meng. CalPERS stopped co-investing in 2016, as part of the same long-term review of PE that led it to […] | | Read more... | |
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Louisiana Teachers commits up to $275 mln to private marketsPosted: 05/14/2019 |
Subscription Required Teachers’ Retirement System of Louisiana at its May meeting pledged up to $275 million across asset classes, Executive Liaison Director Lisa Honore told Buyouts. Louisiana committed $100 million to Platinum Equity’s fifth flagship fund, targeting $8 billion. New Enterprise Associates XVII, a venture fund targeting $3.6 billion, according to an SEC filing, and focusing on healthcare and technology, […] | | Read more... | |
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Amid OZ enthusiasm, experts worry about gentrificationPosted: 05/14/2019 |
Subscription Required Opportunity zones have made a huge splash in the wealth-management and family-office space. Firms are moving full speed ahead to take advantage, with some calling the enabling U.S. law a once-in-a-lifetime opportunity. While the law is part of President Donald Trump’s tax-cut bill, the section creating OZs was bipartisan, originally part of a bill introduced by Sen. Tim […] | | Read more... | |
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PA SERS backs Ares and Permira in latest round of PE fundingPosted: 05/13/2019 |
Subscription Required Pennsylvania State Employees’ Retirement System at its April meeting committed $875 million to private equity funds, in line with its 2018-2019 investment plan, meeting documents show. The investment plan set its annual pacing for new PE commitments at $650 million to reach its target allocation of 16 percent. Its current annual pacing sits at $750 […] | | Read more... | |
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CalPERS hires Altamont’s Ruiz as PE director, closing 2-year vacancyPosted: 05/13/2019 |
Subscription Required California Public Employees Retirement System hired an executive from Altamont Capital Partners to lead its private equity program, a post that had been vacant for more than two years. Greg Ruiz is the new managing director, CIO Ben Meng said at the May 13 investment committee meeting. “Greg has worked his whole career in private equity, most recently as a principal […] | | Read more... | |
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