News and Analysis

Doubles size of CLO operation Credit Suisse provides leverage Two arms function differently The business development company Kohlberg Capital Corp. has nearly doubled the size of its collateralized loan obligation business by acquiring CLO manager Trimaran Advisors LLC and equity interests in Trimaran’s funds. Trimaran Advisors, with $1.5 billion of assets under management, joins $2 […]

Snapshot Firm: Advent International Fund: Advent International Global Private Equity VII LP Target: $9.4 Billion Assets Under Management: $26 Billion Advent International, a Boston-based firm known for its global focus, is gearing up to start formally raising its seventh private equity fund, Advent International Global Private Equity VII LP, a behemoth targeting $9.4 billion that […]

Georgia’s public pensions, long prohibited by law from investing in alternative investments like private equity, may now be closer to allowing such investments after the state Senate voted 50-to-4 to change the rules. The bill nevertheless excludes any allocation changes to the state’s biggest pension fund, the $48 billion Georgia Teachers’ Retirement System. The state […]

Conversus Capital LP could hasten its wind-down by offering itself to the highest bidder. Conversus, the world’s largest publicly traded fund of funds, said Monday that it has begun a formal review of its strategic options, including a possible sale. The company, launched in 2007 as a spin-out of Bank of America Corp., has struggled […]

America’s largest and most influential pension fund has laid down the law on all private equity firms hoping to stay in its good graces or land new commitments. The $235 billion California Pubic Employees’ Retirement System told private equity firms Monday that from March 1 forward, they will have to comply with its new ILPA-style terms […]

Pension System: Washington State Investment Board Assets Managed: $80 Billion (Dec. 31, 2011) Private Equity Assets: $15.2 Billion (Main Trust Fund, Dec. 31, 2011) Private Equity Allocation: 26% (Main Trust Fund, Dec. 31, 2011) Private Equity Target Range: 21% to 29% (Main Trust Fund) Chief Investment Officer: Gary Bruebaker The Washington State Investment Board, which […]

Pension System: California State Teachers’ Retirement System Assets Managed: $145 Billion (Dec. 31, 2011) Invested Private Equity Capital: $21.3 Billion (Dec. 31, 2011) Current PE Allocation/Target: 14.7 Percent/12 percent Chief Investment Officer: Christopher Ailman The $145 billion California State Teachers’ Retirement System, the nation’s second largest pension fund, is actively considering making large separate account […]

Buyout firms are tightening their focus on increasingly specialized niches as the industry matures and competition intensifies, Deepak Agrawal says. “People are looking for opportunities beyond what they’ve invested in in the past,” said Agrawal, a co-founder and managing director at Gotham Consulting Partners LLC. Energy investors may try to capitalize on developments in oil […]