Contra Cost County Employees’ Retirement System has committed $50 million to funds-of-funds manager Adams Street Partners’s 2009 program, according to LBO Wire. Adams Street expects to raise as much as $2.1 billion for the 2009 effort.
Edwards Angell Palmer & Dodge has opened an office in Gainesville, Fla., to deepen its practice serving the life sciences, biotechnology and venture capital industries.
Fulbright & Jaworski, a New York-based law firm, formed a Global Subprime and Credit Crisis Practice Group. It will be steered by five co-heads of various disciplines within the firm.
Kingdom Zephyr Africa Management, a pan-African private equity firm, has held a $325 million first close for its second fund, which is targeting $500 million. Limited partners include International Finance Corp. and the Development Bank of Southern Africa.
Los Angeles County Employees’ Retirement Association committed $75 million to Madison Dearborn Capital Partners’s latest fund. The pension is close to maximizing its roughly $2.87 billion private equity allocation for 2008. Chicago-based PE firm Madison Dearborn has a $10 billion target for its sixth fund.
Los Angeles Fire and Police Pensions is preparing to commit $20 million to two secondaries funds managed by Landmark Equity Partners and ARCIS Group, according to LBO Wire. Landmark Equity is seeking $2 billion for its U.S. mid-market-focused fund, while ARCIS Group is seeking $550 million for its European vehicle.
The Blackstone Group has scheduled a first close on its sixth fund for July 25, according to LBO Wire. The firm expects between $6 billion and $7 billion in commitments.
The San Diego City Employees’ Retirement System has issued an RFP for a discretionary private equity advisor. This would be the $5 billion system’s first foray into private equity, and it is anticipating a 5 percent allocation.
Veronis Suhler Stevenson is raising upwards of $300 million for its second structured credit fund, which provides non-control capital to mid-market media companies to assist with acquisitions, product launches, buyouts and other corporate and owner initiatives. It already has secured $132.5 million in commitments.