Dietrich Knauth

Private equity performed well for San Francisco over the past quarter The $24 bln fund is losing its manager director for private markets The new commitments are venture capital and growth strategies San Francisco Employees’ Retirement System in August and September made $126 million in private equity commitments, targeting growth and venture capital strategies. SFERS, […]

Why this is important: San Jose pension sees opportunity to leverage access to startups in its backyard Plans barbell approach that pairs early-stage, late-stage investments, avoiding middle rounds San Jose hired consultant to help design VC program Contact San Jose P&F: retirement.dept@sanjoseca.gov Contact Ashby Monk at Stanford: stanfordgpc@stanford.edu The $3.7 billion San Jose Police and […]

System plans to leverage local startups and business development offices to get access to early-stage companies Would use “barbell” approach that pairs early-stage and late-stage investments, avoiding middle rounds San Jose hired a separate consultant to help design its venture capital program The $3.7 billion San Jose Police and Fire Pension Plan, hoping to leverage […]

Why this is important: NYS Common plans sharp rise in staff; aims to find permanent CIO AUM: $207.4 billion Responses to RFI for staffing-market data due by Sept. 20 CIO Fuller stepped down this summer; Titarchuk is interim CIO New York State Common Retirement Fund is researching professional search firms, gearing up for an “aggressive” […]

Responses to RFI due by Sept. 20 $207 bln system plans “aggressive staff increase” CIO Vicki Fuller stepped down this summer New York State Common Retirement Fund is researching professional search firms, gearing up for an “aggressive” increase in investment staff, including an effort to hire a permanent chief investment officer. The $207.4 billion retirement […]

Why this is important: System plans shift toward growth; shift in non-U.S. allocation toward China AUM: $27.5 bln; PE target allocation: 13 pct; actual: 13.3 pct Has used co-investments to reduce fees Wants to stay concentrated with fewer managers Contact for a meeting: Kelley Davenport, assistant to the executive director, kelley.davenport@ers.texas.gov Employees Retirement System of Texas approved its […]

$27.5 bln system plans shift towards growth Used co-investments to reduce fees in recent years Wants to stay concentrated with fewer managers Employees Retirement System of Texas approved its 2019 private equity tactical plan, earmarking $1 billion in planned commitments for the coming year and $5.6 billion in commitments over the next five years. The $27.5 billion […]

Focus on PE fund sizes below $750 mln Preqin: 59 pct of capital raised in Q1 went to 10 largest PE funds Smaller companies mean better chance for outsized returns: Aberdeen Scott Reed is co-head of private equity USA at Aberdeen, based in the Boston office. He joined Aberdeen in 2015 from FLAG Capital Management. […]

Audax, Harbourvest, Bain, and Abry secured new commitments from Virginia Retirement System The system plans to maintain an aggressive pacing even as deals become more expensive Virginia raised its private equity allocation from 9 pct to 10 pct between March and June The $78.6 billion Virginia Retirement System committed $423 million to private equity since its […]

Why is this important: Montana doubles down on Deerpath, names new executive director AUM: $11.3 bln; PE allocation 11.1 pct; target range 9-15 pct Pledges to Asia-focused funds, direct-lending strategy Budget chief Villa succeeds Executive Director Ewer Contact for a meeting: Dana Chapman, dchapman@mt.gov   Montana Board of Investments at its recent meeting reviewed four private […]