Firms & Funds

The California State Employees’ Retirement System (CalPERS) last week became the nation’s first public pension system to disclose management fees paid to private equity and venture capital partnerships, following the settlement of a lawsuit brought in September by the California First Amendment Coalition (CFAC). CFAC, a non-profit association of media organizations and related entities, began […]

The California Public Employees’ Retirement System (CalPERS) is getting dragged back into court over its refusal to disclose certain private equity fund investment information. Last Tuesday, the California First Amendment Coalition (CFAC) filed suit in San Francisco Superior Court, requesting that CalPERS be forced “to release all reports showing the amount of fees paid to […]

The California Public Employees’ Retirement System (CalPERS) Board of Administration has voted to adopt a modest revision to its asset allocation mix that better reflects the system’s current investment holdings in an effort to reduce risk and save on transaction costs. The revised asset allocation mix calls for a 1% increase in both the pension […]

The California Public Employees’ Retirement System (CalPERS) is forging ahead in the risky arena of hedge funds. The nation’s largest pension fund announced this month it would double its hedge fund assets from $1 billion to $2 billion. CalPERS, which began investing in hedge funds four years ago, calls the program a success. “Hedge funds […]

The battle over how New Jersey invests its state pension funds has intensified as the New Jersey State Investment Council approved a plan to invest 13% of its $66 billion in assets into alternative investments. The plan would allocate five percent, or about $3.3 billion, of its assets going to private equity. The plan faces […]

The investment committee of the California Public Employees’ Retirement System (CalPERS) authorized $306 million of new commitments to five private equity funds at its meeting last week in Sacramento, Calif. The pensioner added two buyout funds, a secondaries fund and two international private equity funds. CalPERS invested $200 million in Hellman & Friedman Capital Partners […]

Israel’s Pitango Venture Capital closed its fourth fund with $300 million after less than a year of fund-raising. Its close of the fund marks the end of a two-year fund-raising drought in Israel. After a banner year in 2001, when Israeli firms raised $1.3 billion, fund-raising came to an abrupt halt in 2002, when firms […]

For the second year running, the California State Teachers’ Retirement System (CalSTRS) posted gains for its $116 billion investment portfolio, setting a positive tone for the pension fund as it enters a new fiscal year. Overall, the pension fund’s value jumped 17.4% during the 2003-04 fiscal year. As of June 30, its private equity portfolio […]

Rick Hayes, an advocate for public LPs, earlier this month tendered his resignation as head of private equity investments for CalPERS to become a managing partner at Oak Hill Capital Management. Hayes could not be reached for comment, but a spokesman for CalPERS, the nation’s largest pension fund, confirmed that Hayes had resigned as senior […]

Scaling back an ambitious plan to create an international private equity portfolio that reached from the Far East to Latin America, the California State Teachers’ Retirement System’s CalSTRS investment committee last Wednesday opted instead to stay put in Canada, the United Kingdom and Europe and to make new investments in Australia and Japan. According to […]