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Fittingly, the majority of University of Texas Investment Management Company‘s best-performing funds are managed by firms based in Texas. The top four performing funds by cash-on-cash return multiple (distributions divided by contributed capital) are all based in the Lone Star State. Dallas-based Wingate Partners‘ maiden and third funds led the way. The 1987-vintage Wingate Partners LP generated a cash-on-cash return multiple […]

Jason Wood focuses on co-investments Worked at Zurich Alternative Asset Management for three years Not clear if Zurich is directly replacing Wood Jason Wood, a director at Zurich Alternative Asset Management, left recently and joined AIG Investments, according to a source and Wood’s LinkedIn profile. Lauren Kochendarfer, a spokeswoman with AIG, confirmed that Wood joined AIG […]

New Flyer Industries to pay $480 mln for MCI KPS purchased bus maker in 2010 Company was losing money at the time KPS Capital Partners is set to earn a 3x return on its pending $480 million sale of Motor Coach Industries (MCI) to New Flyer Industries Inc, according to a source. During its roughly five-year ownership […]

Firm closed previous fund in 2011 In talks with LPs about a $5.5 bln target Not clear when fund will officially launch Berkshire Partners is talking to limited partners about its next flagship fund with a target of $5.5 billion, according to two LPs who have heard the pitch. It’s not clear if Fund IX is officially […]

Despite a weak fundraising market in the third quarter, a murderers’ row of some of the industry’s most sought after general partners is expected to return to market at some point in the next year, according to data from Buyouts and Bison. LPs expect technology specialist Silver Lake to return to market with the fifth iteration […]

Leonard Green back in market with Fund VII Expects first close in first quarter No hard cap set yet Leonard Green & Co is targeting $7.5 billion for its seventh fund, according to two limited partners who have heard the pitch. The firm anticipates holding a first close on Fund VII in the first quarter, the […]

To get a feel for emerging managers in the market, Buyouts did a roundup of debut and sophomore efforts that have been fundraising this year. We then compiled the top 20 by target size. The largest of all the funds from emerging managers was Searchlight Capital’s second fund. Searchlight Capital II LP is almost halfway toward its goal of raising $1.8 billion — […]

Firm: Pantheon Fund: AMG Pantheon Fund LLC Target: Fund registered to sell $500 mln Pantheon’s new AMG Pantheon Fund marks the manager’s first product built from the ground up for retail investors under the same regulatory regime as publicly traded mutual funds. “It’s intended to be a long-term vehicle for people to come into and let their […]

Pension pays $147 mln in total PE expenses Total includes staff salaries, operating costs CalSTRS more cost-conscious after revelation it doesn’t track carry The California State Teachers’ Retirement System paid $135.7 million in private equity management fees in 2014, according to a November investment cost report. Those fees comprised the bulk of the $147 million in total […]

It has been a good year for the relatively young private equity portfolio of the New Mexico Educational Retirement Board. Performance data released at its October meeting shows that it received almost a fifth of its total distributions to date in just the first six months of 2015. From the beginning of this year through the […]