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Abhishek Sharma, founder and CEO of Foundation Holdings, the Dubai investment firm focused on the GCC region and India, sees the 2008 financial crisis as a learning experience for family offices in the region. “It created a severe dent in the trust across the entire system,” Sharma wrote to Active LPs in response to questions. […]

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Pennsylvania Public School Employees’ Retirement System approved $425 million in private equity and private credit commitments, documents from its May meeting show. The board committed $75 million to Incline Equity Partners’ Elevate Fund, targeting $300 million. The pool focuses on the lower-middle market and invests in distribution services, business services and specialized light manufacturing sectors. PA PSERS previously committed […]

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During a panel at Buyout Insider’s Family Office Connect conference on May 22, Kamil Homsi, founder of Global Realty Capital, said investors had not been given enough time to fully understand Opportunity Zone investments and meet looming deadlines, and that efforts were already underway to extend the program to 2032. Homsi was asked about how […]

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Tricor Pacific Capital wrapped up the inaugural deal of its new diversified investments strategy, acquiring a provider of maintenance welding solutions. The Canadian family office bought Rockmount Research & Alloy, a Vancouver, Washington, maker and distributor of branded consumable industrial welding-alloy tools and accessories. Terms weren’t disclosed for the deal, which was finalized in March. […]

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In its effort to slow down private-market commitments this year, Ohio Police & Fire Pension Fundat its May meeting backed only one PE fund. The board recommended a $20 million commitment to Stone Point Capital’s Trident VIII fund. The pool, hard-capped at $6.5 billion, focuses on financial services in North America and Western Europe. Ohio P&F […]

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Call it a fundraising frenzy. 22 emerging managers raised more than $9.4 billion from May 8 through May 22, according to Buyouts data. BDT Capital was most responsible for the surge. The firm, founded by former Goldman Sachs banker Byron Trott, raised $6.3 billion for its third fund. The Chicago firm is reported to target […]

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Amid the excitement over Opportunity Zones at the second day of Buyouts Insider’s Family Office Connect conference in New York, some doubts about OZs as they are currently constituted seeped in. Chris Milner, head of real estate investment management for Cantor Fitzgerald, mentioned his firm’s joint OZ venture with Silverstein Properties, but said his firm now […]

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When family offices and private equity firms work with independent sponsors, one question that arises is who pays broken-deal fees. The answer seems to be — not family offices, according to a panel discussion at Buyouts Insider’s Family Office Connect conference in New York on May 21. While FOs are not likely to pay dead-deal fees, […]

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Family offices usually result from families selling off profitable businesses. Cordish Private Ventures, founded in 1998, is different — it is just one part of Cordish Cos, a family enterprise still active in its core real-estate-development business, as well as gaming and sports-anchored entertainment. Moreover, while many FOs seek more direct investments, Cordish focuses mostly on […]

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CAZ Investments, a multifamily office with about $1.3 billion under management, earlier this month made a play on Uber’s stock. “We had not invested in the private markets, but based on the dislocation that occurred post the IPO, we [initiated] a position in Uber in one of our vehicles,” Chairman and CIO Christopher Zook told Active LPs. Uber […]