LPs

Freescale Semiconductors’ private equity sponsors will barely make money on the company’s sale to NXP Semiconductors NV for $16.7 billion. But considering Freescale’s troubled history, sources close to the deal consider that an accomplishment.

HGGC held a final close on $1.33 billion on March 4 for its second fund. Steve Gelsi asked HGGC CEO Rich Lawson five questions.

The Oregon Investment Council allocated up to $1.05 billion across eight private equity funds in January and February, putting the retirement system almost halfway toward its annual commitment target of $2.4 billion.

The following hires, promotions and appointments are for the March 23, 2015, issue of Buyouts.

ARThe University of Michigan Board of Regents disclosed more than $50 million of new commitments to private market funds in its March 19 materials.

The death of a 58-year-old maintenance worker triggered a U.S. Department of Labor Occupational Safety and Health Administration inquiry that could result in as much as $272,250 of penalties for Hussmann Corp., a Clayton Dubilier & Rice portfolio company, according to an OSHA report. 

The Pennsylvania Public School Employees’ Retirement System committed up to $658.7 million to private funds at its March 12 meeting, including more than $250 million for U.S. and European debt funds, according to the retirement system’s website.

The Pennsylvania State Employees’ Retirement System continued its push for more exposure to international alternative funds with a $50 million commitment to Chinese private equity firm Primavera Capital Group, according to a press release.

The Public Employees Retirement Association of New Mexico committed up to $150 million to a separate account managed by 57 Stars at its March 10 meeting, Portfolio Manager Joaquin Lujan said in an email.

The California Public Employees’ Retirement System allocated $100 million to invest alongside the Blackstone Group’s tactical opportunities platform in January, according to the retirement system’s March 16 meeting materials.