Firms & Funds

The California Public Employees’ Retirement System (CalPERS) is once again changing the way public pension funds do business. The fund, which manages $170 billion in assets, this month closed its $500 million CalPERS Corporate Partners Fund that was originally announced last June. The fund is a joint venture with Pacific Corporate Group (PCG), a fund […]

The California Public Employees’ Retirement System (CalPERS) is once again changing the way public pension funds do business. The fund, which manages $170 billion in assets, this month closed its $500 million CalPERS Corporate Partners Fund that was originally announced last June. The fund is a joint initiative with Pacific Corporate Group (PCG), a fund […]

The California Public Employees Retirement System (CalPERS) this month reportedly agreed to purchase a minority stake in The Carlyle Group Inc. as part of an agreement to invest up to $850 million with the Washington, D.C.-based private equity firm. In addition, the public pension fund also agreed to purchase a minority stake in Texas Pacific […]

The Washington State Investment Board this month preliminarily agreed to commit to two private equity funds that will make investments mainly in Europe. Fund managers at Apax Partners & Co. and HarbourVest Partners LLC met with and managed to woo the private market committee, which is a subset of the investment board, to the amount […]

The Florida State Board of Administration’s alternative program, stunted by a period of internal restructuring (BUYOUTS Nov. 22, 1999, p. 4), intends to hire its first international private equity manager and fund of funds manager for a new alternative investments program in the next six to nine months. Additionally, the Board will continue to explore […]

Oregon State Treasury is betting big on technology buyouts. The $35 billion pension recently committed $100 million to Thomas Weisel Partners LLC and a total of $350 million to two Texas Pacific Group funds which will jointly target buyouts in the tech sector, among other sectors. Thomas Weisel has set a cap of more than […]

Standard Life Investments held an August first close for European Strategic Partners (ESP), the euro1 billion-target fund-of-funds vehicle it launched last November. The format of ESP has been somewhat refined since initial plans for the fund were announced last spring, highlighting the increasingly sophisticated approach investing institutions – particularly in Europe – are bringing to […]

HarbourVest Partners, LLC is marketing its sixth fund-of-funds targeting U.S. investments. The launch is significant because it signals HarbourVest’s further movement away from committing to buyout partnerships and direct deals. If it reaches its $2 billion target, HarbourVest Private Equity Partners VI, L.P. is planning to invest $500 million in larger buyout funds, $250 million […]

Last year’s credit crunch created such a boom in business for Liberty Partners that it asked for and received an additional $200 million last month from its sole limited partner, the Florida State Board of Administration. Florida now has committed $800 million to the New York buyout firm, said Peter Bennett, president of Liberty. Mr. […]

Switzerland’s Vontobel Group in August launched 5E Holding (5E), a quoted fund-of-funds targeting Central and Eastern Europe. 5E, which stands for Excellence in Eastern European Emerging Equity, seeks to raise CHFr 250 million to CHFr 350 million (ecu 150 million-210 million). The offer was scheduled to close at the end of August. 5E will seek […]