LPs

The following hires, promotions and appointments are for the April 6, 2015, issue of Buyouts.

Private equity firms are hitting their fund targets in a shorter amount of time than at any other point since 2008, according to data released by Preqin on April 1. 

ONLYThe Teacher Retirement System of Texas (TRS) allocated $2 billion each to separate accounts with Apollo Global Management and Kohlberg Kravis Roberts & Co at its March 26 meeting, spokeswoman Juliana Fernandez Helton said in an email.

The California State Teachers’ Retirement System committed more than $1.4 billion to private equity during the second half of 2014, according to a Pension Consulting Alliance report included in the retirement system’s April 3 meeting materials.

 The SEC accused Lynn Tilton and her firm Patriarch Partners of fraud Monday, alleging the firm and its outspoken founder misled investors by assigning false valuations to loans held by three of its CLO funds.

Los Angeles City Employees’ Retirement System’s private equity portfolio distributed a little more than $30 million in its last fiscal year, about 24 percent less than it received from distributions in the prior fiscal year, according to retirement system documents.

The Carlyle Group has more than $9 billion of dry powder at its disposal for opportunities in the energy sector, said Deputy Chief Investment Officer and Managing Director Kewsong Lee.

SEC scrutiny of the private equity industry has aided limited partners seeking greater transparency and reduced fees from fund managers, LPs said at the Buyouts East conference on March 24.

FundsVenor Capital Management plans to hold a first close for its second special situations fund on between $200 million and $250 million in April, according to Pennsylvania Public School Employees’ Retirement System documents and a market source. The firm set a $300 million target and a $500 million hard cap for Venor Special Situations Fund II.