News and Analysis

Private equity’s expansion outside of North America has been brisk. The European markets were quick to catch on in the early 1990s, and more recently the Asian markets have stepped up their private equity investment pace. To capitalize on the rising tide that is now gripping the region, Hamilton Lane has opened up a new […]

The California State Teachers’ Retirement System (CalSTRS) has begun to explore private equity investment in regions where it has never gone before-Asia, Eastern Europe and Latin America. If the pension fund adopts a plan that was proposed by consultants McKinsey & Co., its $5.2 billion private equity program could span the globe. The nation’s third […]

Hamilton Lane Advisors sold 40% of the company to outside investors last month, with an eye toward future industry consolidation. Hartley Rogers, former co-head of Credit Suisse First Boston’s U.S. private equity department, led the purchasing syndicate and will become Hamilton Lane’s new vice chairman. The Bala Cynwyd, Pa.-based gatekeeper began entertaining investment offers in […]

The Los Angeles County Employees Retirement Association (LACERA) will up its private equity investments by $600 million, almost tripling its investments in the asset class, according to a new plan adopted by the pension fund’s investment committee last week. LACERA currently has $370 million, or 5.2% of its assets, in alternative investments, a class that […]

Responding to concerns from union members that it was investing in companies that privatize their public sector jobs, the California Public Employees’ Retirement System’s (CalPERS’) investment committee will consider a policy that would restrict its ability to invest with private equity funds that finance those privatizers. After a brief discussion in mid-November in San Diego, […]

Private equity firm HarbourVest Partners has sealed the long-rumored deal with UBS for a significant share of its private equity portfolio. The deal nets HarbourVest 52 limited partner interests in both venture capital and buyout funds. The commitments that UBS made in the portfolio total $1.3 billion. UBS started an auction process for the deal […]

Boston-based HarbourVest Partners announced the promotion of 11 investment professionals in its primary and secondary investment teams as the private equity firm is seeing an increase in secondary deal flow this year. Meanwhile, reports are circulating that the firm is poised to close a large secondary deal potentially valued at up to $1 billion. HarbourVest […]

Though it’s currently caught up in the traditional political morass of passing the state’s budget, the government of Pennsylvania is likely to approve a compromise version of a $250 million program to encourage venture capital investment in the state. Initially, Pennsylvania Gov. Edward Rendell proposed a plan to raise $250 million in bonds for a […]

The California State Teachers’ Retirement System (CalSTRS) will slow the pace of its ambitious private equity program that was just approved by the fund’s investment committee in July. CalSTRS now plans to nearly double the size of its $4.7 billion private equity program over the next five years, committing up to $8.7 billion to buyout […]

Concerned that private contractors are pushing public sector employees out of a job, the California Public Employees’ Retirement System (CalPERS) is considering a new investment policy that would bar it from investing with firms that back those companies. The new policy might effect future investments in companies that privatize education, health care, prisons and other […]