Firms & Funds

RCP Advisors LLC surpassed its fundraising target by nearly $18 million as it wrapped up the final close for RCP Fund VIII LP at $267.7 million, the latest in its series of funds of funds aimed at the lower middle market.

Mill City Capital plans to raise up to $200 million for its second buyout fund in three years after the Minneapolis-based mid-market buyout shop spun out of Goldner Hawn Johnson & Morrison, according to a filing with regulators.

The Illinois Teachers’ Retirement System, which oversees $39 billion in assets, has committed a combined $420 million to three firms, including Apollo Global Management, New Mountain Capital and ICV Partners, according to Dave Urbanek, a pension spokesman.

The University of California’s venture capital portfolio made solid progress last year with a substantial majority of its recent vintage funds posting solid gains and several showing stand out performance. Among the funds with the biggest gains were Arch Venture Fund VII, Bessemer Venture Partners VII Institutional and Updata Venture Partners IV, all from 2007 […]

Pension: California Public Employees’ Retirement System Total Assets: $265 billion (Aug. 15, 2013) PE Assets: $31.4 billion (June 30, 2013) PE Allocation / Target: 12% / 14% (June 30, 2013) Chief Investment Officer: Joe Dear The $265 billion California Public Employees’ Retirement System, the largest pension in the United States, approved its largest private equity […]

Incline Equity Partners topped its target by more than $50 million in the middle-market firm’s first fundraising since spinning out of PNC Financial Services Group Inc in 2011. The Pittsburgh firm closed Incline Equity Partners III LP in August with $301.1 million in commitments.

Silver Lake Sumeru, the mid-market arm of technology specialist Silver Lake, agreed to pay about $220 million for a majority stake in financial software specialist BlackLine Systems Inc in a transaction that taps dwindling capital from the firm’s 2007 debut fund, according to people familiar with the deal.

A first-time survey by law firm Goodwin Procter LLP of 66 growth equity transactions between 2008 and the first half of 2012 revealed a larger portion of the total deal value available for clawbacks for investors compared to traditional buyouts, if a dispute arises.

Apollo Global Management LLC has drawn $8.4 billion in commitments towards a $12 billion target for Apollo Investment Fund VIII LP, making the flagship fund the top money-raiser among U.S.-based sponsors tracked by Buyouts so far in 2013.