News and Analysis

Pension: California State Teachers’ Retirement System Assets Managed: $170 billion (July 31, 2013) PE Assets Managed: $21.8 billion PE Allocation / Target: 12.8% / 13% Chief Investment Officer: Chris Ailman The $170 billion California State Teachers’ Retirement System, as part of a “subtle” shift to its long-term allocation targets, boosted the amount of money it […]

The financial stress has been apparent for two years or more at Energy Future Holdings Corp, and now Moody’s Investors Service Inc has put a timetable on the Texas utility’s likely reorganization. The credit rating agency said last week that at least some units of the company are likely to file for bankruptcy by the end of the year.

American banks, which have been shedding their private equity operations because of the Volcker Rule, may be able to use an exemption in the financial reform law at least to get back into the lower end of the middle market.

Brookfield Asset Management is nearing the final close of its second infrastructure fund and is set to hit its hard cap of $7 billion, according to three sources, making it one of the biggest private infrastructure funds ever raised.

The New York State Common Retirement Fund, which oversees $159 billion in assets, committed just under $350 million to a pair of Europe-based private equity funds in July, according to Eric Sumberg, spokesman for Thomas DiNapoli, the New York State Comptroller and sole fiduciary of the state’s biggest pension. The pension had $13.8 billion invested in private equity, about 8.6 percent of its assets, as of March 31. That is slightly below the pension’s 10 percent private equity target.

The Canada Pension Plan Investment Board, which manages C$188.9 billion in assets, made some management changes earlier this year on its private investments team.

Pension: New York State Common Retirement Fund Assets Managed: $159 Billion (June 30, 2013) PE Assets Managed: $13.8 Billion (March 31, 2013) PE Allocation / Target: 8.6% / 10% (March 31, 2013) Chief Investment Officer: Vicki Fuller The New York State Common Retirement Fund, which oversees $159 billion in assets, committed just under $350 million […]

Commonfund Capital has closed its latest energy and natural resources fund of funds, Commonfund Capital Natural Resources Partners IX LP, raising $507 million, slightly more than the original $500 million target. Fund IX had been raising money for more than a year, according to Keith Luke, president of Commonfund Securities.