Paine & Partners’ deal pipeline for its $893 million flagship fund includes more than 30 investment opportunities, firm President Kevin Schwartz said. Paine & Partners Capital Fund IV held a final close on Dec. 18, beating its original target by $93 million.
Oaktree Capital Management expects to invest as much as 75 percent of its latest $3 billion real estate offering in commercial real estate and non-U.S. assets, according to a fund presentation made available by the Ohio Highway Patrol Retirement System. Ohio Highway Patrol committed $10 million to the fund in December.
Kayne Anderson Capital Advisors is targeting $1.5 billion for an energy income fund that will invest in natural gas assets, according to a summary of key terms provided by a limited partner.
The Ohio Highway Patrol Retirement System named private equity as its top “area of focus” in 2015, according to December 18 meeting materials made available by the retirement system.
Healthcare and business services specialist Welsh, Carson, Anderson & Stowe held a first close on $1.7 billion for its 12th flagship fund in December, with plans for additional “rolling” closes in 2015, according to a market source.
As regulatory and LP pressure builds on private equity firms in the post Dodd-Frank era, GPs should anticipate using at least 5 percent of their revenue for compliance, said Todd Cipperman, founding principal of Cipperman Compliance Services.
The Oregon Public Employees Retirement Fund paid roughly $300 million in fees to the firms that manage its private equity portfolio in 2013. Consider it a bargain.
“While we’re not yet back to the pre-financial crisis golden years of private equity fundraising, we are getting close,” State Board of Administration of Florida Senior Investment Officer John Bradley told board members at a meeting in Tallahassee in September.
The University of Michigan Board of Regents committed $80 million to private equity funds that will invest in distressed debt and energy assets at its Dec. 18 meeting, according to documents released by the endowment.
The Washington State Investment Board committed $400 million to private equity at its Dec. 18 meeting, allocating $250 million to KSL Capital Partners and $150 million to Endeavour Capital, spokeswoman Kate Sandboe said in an email.
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