News and Analysis

All but 10 of the general partners in the California State Teachers’ Retirement System’s (CalSTRS) $4.4 billion private equity portfolio have agreed to waive confidentiality agreements to allow the pension fund to disclose how their investments are performing. CalSTRS will release an updated list of internal rates of return (IRRs) at the March 5 meeting […]

A former vice president in Salomon Smith Barney’s investment banking division, David Loglisci, has taken charge of New York State Common Retirement Fund’s $6.5 billion private equity portfolio. He replaced Paula Chester as director of private equity investment January 2. Loglisci has not yet announced changes to the fund’s investment strategy, nor has he made […]

Bucking a trend that has pulled nearly $1 billion from new limited partners into the private equity arena, Yale University’s $10.5 billion endowment has scaled back its private equity allocation by $800 million to $1.84 billion. After two years of write-downs and only a handful of commitments to new funds, the 30-year old private equity […]

The Washington State Investment Board last month indicated it would not buy a stake in Kohlberg Kravis Roberts & Co. The news follows reports in October that both the Washington State Investment Board and the Oregon Investment Council, which each manage roughly $40 billion and $48 billion in assets respectively, were in talks to buy […]

Putting $12 billion to work would be difficult even in good times. In a down market with low valuations and scarce exit opportunities, the task is downright ominous. Add to that a slew of new consultants, gatekeepers, fund managers and staff to manage the portfolio, and you’ve got the California State Teachers’ Retirement System (CalSTRS). […]

The California State Teachers’ Retirement System (CalSTRS) was hit with a Public Records Act request by San Jose Mercury News earlier this month. It asks the pension fund to disclose the performance of its $4.4 billion private equity portfolio. To date, the Sacramento-based pension has not made any fund performance data public, but it has […]

It started in 1997 with a real estate deal gone wrong. Yale University’s $10.7 billion endowment had taken partial ownership of a Colorado ranch that had millions of dollars worth of spring water bubbling underground. However, local residents and environmentalists opposed Yale’s plan to tap the water for profits, prompting the ranch’s owners to spend […]

VCs: First the bad news. The world at large may soon have access to internal rates of return (IRRs) for the 250 private equity funds in the California Public Employees’ Retirement System’s (CalPERS)$20 billion private equity portfolio. On the flip side, it appears unlikely that venture capitalists will be forced to explain how those IRRs […]

Since April, the California State Teachers’ Retirement System has devised a new business plan, named a set of investment advisers and approved a series of investment principles, but, until this month, it had not added a single name to its $4.4 billion private equity portfolio. After a four-month long period of hibernation, the $100 billion […]

Global private equity firm HarbourVest Partners has closed its fourth fund at $2.8 billion. HarbourVest International Private Equity Partners IV will comprise two separate partnerships and will be invested predominantly in Europe. Around $374 million has been allocated to direct investments, while $2.326 billion is reserved for the fund-of-funds and secondaries business. The firm has […]