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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 […]

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Texas Municipal Retirement System at its Sept 27-28 meeting committed $110 million to sophomore funds from Tritium Partners and Main Post Partners. The pension system re-upped $60 million to Tritium’s second fund targeting $375 million. This fund will make 12 to 14 control investments in U.S.-based middle-market growth/buyouts companies in internet/information services, supply chain/logistics and business/financial services businesses. Tritium will invest $15 […]

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North Dakota State Investment Board sold a $25 million commitment in Corsair Capital’s fourth fund to Hamilton Lane, a source close to the pension system confirmed. North Dakota pension trust’s PE portfolio has underperformed mainly because of investments made before 2013, David Hunter, the pension system’s CIO, has told ActiveLPs. “Although the North Dakota State Investment Board generally […]

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Emerging managers raised nearly $1.8 billion in the past few weeks. Seven firms raised over $100 million. Balance Point Capital raised over $375 million toward the $400 million hard cap for its third flagship fund. The firm focuses in the lower-middle market. Caspian Private Equity, focused on U.S. private equity and real estate markets, raised […]