Justin Mitchell

New York State Teachers’ Retirement System’s private equity program had 12.1 percent returns in fiscal year 2019, below its 15.4 percent benchmark, according to materials posted on its website ahead of the board’s Oct. 30 investment committee meeting. NYS Teachers’ three-year, five-year and 10-year returns all missed their benchmarks as well. Three-year returns were 15.8 […]

Bridge Investment Group has launched its second opportunity zone fund, according to sources familiar with the firm and a Form D fundraising document. The target for Fund II is half the size of Fund I’s original target, which represents an adjustment in the firm’s original opportunity zone strategy, a source told Buyouts. Bridge filed a […]

CalPERS's Meng discusses the pension plan's approach to recruiting private equity professionals.

State of Michigan Retirement System saw about 14 percent private equity returns in fiscal year 2019 across the funds it oversees, well above its 12.8 percent benchmark, according to documents posted online for the state investment board’s September meeting. The total value of Michigan’s PE portfolio as of June 30 was about $13.4 billion, spread […]

KPS Capital Partners closed its first-ever mid-cap fund on just over $1 billion alongside its fifth flagship pool, which hit its hard cap of $6.12 billion. KPS Special Situations Fund V beat its original $5 billion target, while KPS Mid-Cap Fund beat its $750 million goal. The fundraising proceeded quickly. PPMs were distributed on Sept. […]

The State of Wisconsin Investment Board had robust private equity results for fiscal year 2019 and made about $855 million in private equity commitments in the second quarter, according to updates given to the board during September meetings. The board invests on behalf of the Core Trust Fund of Wisconsin Retirement System. Wisconsin’s four separate […]

Bookend Capital Partners attracted a commitment from at least one major pension for its debut fund, Buyouts has learned. The State of Wisconsin Investment Board committed $50 million to Bookend Capital I in the second quarter of 2019, according to meeting materials. The money is from the $103.3 billion Core Trust Fund for the Wisconsin Retirement […]

A pioneering separate-account program formed by Texas’ state teachers’ pension fund with KKR & Co. and Apollo Global Management took a dive in private equity performance over the past year, although long-term returns appear stable, Director of Strategic Partnerships and Research Michael Pia told the board at its September meeting. Private equity in the program returned […]

Henry Jones defeated challenger J.J. Jelincic, a critic of the system’s private equity efforts, to hold onto his seat on the Board of Administration for California Public Employees Retirement System, CalPERS announced Friday. According to a CalPERS press release, Jones received 76,570 votes, or 65.82 percent of the vote, while Jelincic received 39,495 votes or 34.18 […]

Alaska Permanent Fund Corporation committed $200 million to a new in-state investment program. “The goal of the Emerging Manager Program is to seed new private equity or venture capital fund managers in Alaska,” spokesperson Paulyn Swanson told Buyouts in an email. An Alaska statute already instructs Alaska Permanent to prefer in-state investments as long as they […]