Justin Mitchell

University of California’s endowment had a 27.4 percent return on its $1.9 billion private equity portfolio in fiscal 2018-2019, while its pension saw a 13.7 percent return on its $4.1 billion portfolio, according to a report released ahead of its Board of Regents meeting this week. The office of UC Chief Investment Officer Jagdeep Bachher […]

Switzerland-based investment manager Unigestion held the first close for its second direct private equity fund in August, a source told Buyouts. Unigestion Direct II raised close to €300 million ($330.2 million) of a €600 million ($660.5 million) target, the source said. Further closings are coming for both new and existing clients, the source said. The […]

Cresset raised $280 million for its qualified opportunity zone (QOZ) fund towards a revised target of $400 million to $450 million, with a plan to close at the end of this year, Managing Director Nick Parrish told Buyouts. The Cresset-Diversified QOZ Fund was launched last year in partnership with Larry Levy‘s Diversified Real Estate Capital. […]

New York State Common Retirement Fund made $510 million in private equity commitments in July, according to a document posted on the New York State Comptroller’s website. The investments were: • $100 million to New York Business Development Commission, which underwrites loans to small businesses in New York state, which closed on July 12; • […]

California State Teachers’ Retirement System made $5.5 billion in private equity commitments in the first half of 2019, according to a presentation released ahead of the $241 billion pension fund’s meeting this week. The allocations are: $43 million to LAV V, a $750 million global venture capital fund run by Lilly Asia Ventures and focused […]

Hirtle, Callaghan & Co recently hired Stephen Vaccaro as director of private equity as part of its “long-term commitment” to the asset class, the firm told Buyouts. Vaccaro was previously with the University of Pennsylvania’s endowment, where he was director of the office of investments. The University’s endowment was worth $13.8 million at the end of fiscal […]

California Public Employees Retirement System’s Board of Administration chose to keep revising a draft of a controversial code of conduct for board members at its meeting this month after push-back from certain members. The code was first introduced at CalPERS’s offsite meeting in July, drafted by board members Jason Perez and Rob Feckner. That meeting […]

Massachusetts Pension Reserves Investment Management Board added Sarah Zatoonian to its private equity team in June as an investment analyst, according to the notes for its Aug. 13 meeting. Zatoonian is a graduate of the College of the Holy Cross, from which she has dual bachelor’s degrees in economics and classics. She also worked in […]

California Public Employee Retirement System is one of the busiest private equity limited partners in the business. The system, which had about $376.2 billion in assets as of Aug. 16, completed nine commitments totaling $3.6 billion in the first half of 2019, according to a report presented to the board at its August board meeting […]

Candidates to help run California Public Employees Retirement System’s planned direct investment funds backed out due to an article that named two people associated with Silver Lake as being in the running, according to Henry Jones, president of CalPERS’s board. Jones divulged the recruiting challenges at a Retired Public Employees Association of California picnic in Santa […]