South Carolina looks for fee savings in co-investments, secondaries Posted: 04/16/2019 |
| Subscription Required South Carolina Retirement System Investment Commission plans to reduce its private equity fees by committing more to co-investments and secondaries. The system said a new co-investment platform will help move the needle on fees. CIO Geoffrey Berg said at the commission’s April 11 meeting that the state had recently concluded negotiations on a co-investment platform with […] | | Read more... | |
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Stonehage Fleming adds ex-Lehman exec Becton Davis to financial team Posted: 04/16/2019 |
| Subscription Required The U.K. family office Stonehage Fleming said it hired Becton Davis as a group chief financial officer. He has been with Stonehage since February, according to his LinkedIn page. Davis comes to Stonehage Fleming after seven years as CFO at Close Brothers Asset Management. Before that, Davis was a vice president at Lehman Brothers from 2003 to […] | | Read more... | |
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Connecticut Backs WCAS flagship fund Posted: 04/16/2019 |
| Subscription Required Connecticut Office of the State Treasurer at its April meeting considered a $125 million commitment to Welsh, Carson, Anderson & Stowe’s 13th fund, according to a letter by State Treasurer Shawn Wooden. WCAS XIII is a North American buyout fund focused on middle-market healthcare and technology companies, targeting $3.75 billion with a $4 billion hard cap, a […] | | Read more... | |
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Cresset, led by ex-Willis Stein, Sterling Partners execs, adds Shevlin, others to opportunity zone push Posted: 04/15/2019 |
| Subscription Required Cresset has added Jeremy Shevlin, Whitney Webb and Jason Mussetter to its Denver, San Diego and Minneapolis regional offices, respectively. Shevlin confirmed his hiring to ActiveLPs and his LinkedIn page says he has been working for Cresset in the Denver area since January as a regional managing director. Cresset announced his hiring March 12. Before joining Cresset, Shevlin ran a multifamily office […] | | Read more... | |
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Board members want CalPERS to start co-investing Posted: 04/15/2019 |
| Subscription Required California Public Employees’ Retirement System board members are pushing for the system to start co-investing in private equity, even if it means rewriting rules to enable staff to move decisively when opportunities arise. The $362 billion pension discussed co-investments at its April 15 meeting, a month after getting preliminary approval to pursue a novel PE restructuring. […] | | Read more... | |
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MiddleGround hires ex-FO exec Paras for business development Posted: 04/15/2019 |
| Subscription Required MiddleGround Capital, a spinout from Monomoy Capital, hired Christen Paras, an executive from family office CoBe Capital, to run business development, according to a person with knowledge of the firm. Paras’s LinkedIn profile has been updated with the new role, saying she joined MiddleGround in April. Paras joined MiddleGround as the firm moves through its […] | | Read more... | |
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Texas C&D re-ups with Genstar, Spark Capital in 2019 Posted: 04/15/2019 |
| Subscription Required Texas County & District Retirement System committed $341 million to private equity funds in 2019 to date, according to its website. Board commitments include: $10 million to EIV Capital’s co-invest Fund I, which targets the energy industry; $20 million to Spark Capital VI, which focuses on startups. Spark’s sixth fund has a target size of $400 million; […] | | Read more... | |
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South Carolina commits $75 mln to Providence Posted: 04/12/2019 |
| Subscription Required South Carolina Retirement System Investment Commission at its April meeting re-upped with Providence Strategic Growth Capital Partners. The board committed $75 million to Providence Strategic Growth IV, which focuses on growth and small buyout investments in the software and technology sector in North America, a meeting agenda showed. The pool’s fourth fund targeted $2 billion […] | | Read more... | |
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CREO Syndicate brings unique model to family office space Posted: 04/12/2019 |
| Subscription Required In a field defined by maintaining and increasing massive amounts of wealth, CREO Family Office Syndicate stands out: a public charity that works with FOs in the private equity space, focused on an overriding mission that transcends the search for wealth. And it looks ready to make waves. CREO — Cleantech, Renewable Energy and Environmental […] | | Read more... | |
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Texas School Fund re-ups with PE manager Neuberger Berman Posted: 04/12/2019 |
| Subscription Required Texas Permanent School Fund approved a new three-year contract with private equity manager Neuberger Berman, extending a relationship that gives Neuberger discretionary control over 30 percent of its PE investments. The $44 billion school fund has a 13 percent target allocation to PE, and it has contracted with Neuberger Berman as its PE adviser since […] | | Read more... | |
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