LPs

Several major limited partners finalized plans to ramp up their commitment pacing in 2015 recently, setting the stage for another banner year for fundraising. But with general partners coming off the strongest fundraising year since 2008, a fresh outpouring of commitments could push dry powder levels to uncomfortable heights. 

The SEC ended a three-year investigation into private equity-backed Cobalt International Energy last month, opting not to penalize the oil and gas company for alleged Foreign Corrupt Practices Act (FCPA) violations relating to its stake in oil wells in Angola. 

The SEC has no plans to ease up on its investigation into the misallocation of fees and expenses by buyout shops, but regulators say the industry has made strides in improving transparency and the terms offered to investors.

The following hires, promotions and appointments are for the March 9, 2015, issue of Buyouts.

I find it strange TPG Capital’s bridge fund was not drawn. TPG last year raised TPG Strategic Partnership Interim Fund designed only for the most intimate of TPG investors. The firm raised $2 billion from, as I understand it, three LPs – the state pensions of Oregon and Washington State and a sovereign wealth fund. […]

After growing her fund administration firm PEF Services LLC to more than 130 funds and 40-plus employees since co-founding it in 2002, CEO Anne Anquillare has also become an active proponent of a more manageable regulatory framework for middle-market private equity firms.

The director of the Teacher Retirement System of Texas’s emerging manager program answers five questions, including what TRS looks for in emerging managers, if the funds it has committed to share any traits, and what the future holds.

The ballooning size of Vista Equity Partners latest fund, its largest to date at $5.8 billion, will have no effect on the firm’s performance or strategy, said founder Robert Smith at the Columbia Business School Private Equity & Venture Capital Conference on March 6.

Private Equity Growth Capital Council Communications Director Ken Spain has left the industry group to lead external communications for Koch Industries, the controversial energy and chemical company led by brothers Charles Koch and David Koch.

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.