The New Jersey State Investment Council cleared the last hurdle before a final vote to allow the state’s $72 billion pension fund to allocate as much as 38 percent to alternative investments like private equity, hedge funds and real estate. That is 10 percentage points higher than the current 28 percent cap. A final vote […]
Firm: Insight Venture Partners Fund: Insight Venture Partners Fund VII Target: $1.5 billion Fund: Insight Ventures Coinvestment Fund II Target: $450 million Insight Venture Partners has set up two funds with about $2 billion to manage, marking the latest in a rapid series of announcements from investors of billion-dollar fundraising totals as the industry as […]
The California Public Employees’ Retirement System, the biggest U.S. public pension fund, sees itself buying more stakes directly in assets such as roads and airports as it targets $5 billion in infrastructure investments, one of its portfolio managers said. “Direct investment is definitely a goal of our (infrastructure) program. We have a target of $5 […]
The number of LBO-sponsored companies in Standard & Poor’s “weakest links” report shrank by half in a year, continuing the recent trend of portfolio companies saying goodbye to the report that looks at entities tagged as most in danger of debt default. The latest report, “Global Weakest Links And Default Rates: Weakest Links Increased Modestly […]
A pair of resignations at the California Public Employees Retirement System, the nation’s largest pension fund, is paving the way for CalPERS’s chief investment officer, Joseph Dear, to restructure the team that manages the pension fund’s $32 billion in alternative investments. Joncarlo Mark, a senior portfolio manager in the Alternative Investment Program who has worked […]
Firm: Levine Leichtman Capital Partners Fund: Levine Leichtman Capital Partners SBIC Fund LP Target: $75 million Placement Agent: None Levine Leichtman Capital Partners is close to raising $75 million for a fund organized as a small business investment company, a structure that is often used to provide mezzanine financing although the strategy of this particular […]
California’s two giant pension funds are in the process of changing the way they allocate assets following their combined $168 billion in losses between October 2008 and March 2009 (they have since recouped about $103 billion). Last week, the $146 billion California State Teachers’ Retirement System approved a new strategy of incorporating a new set […]
The giant California Public Employees’ Retirement System acknowledged that federal authorities, including the Securities and Exchange Commission and California-based federal prosecutors, have requested millions of documents as part of a probe into bribery allegations that have shaken the giant pension fund. The disclosure was mentioned in materials released at CalPERS’s Feb. 14 board meeting and […]
Wilshire Private Markets Group Year entered alternatives: 1984 Investment strategy: Direct, secondary and co-invest relationships in buyouts, distress and venture capital in North America, Europe and Asia-Pacific Key officers: Kevin Nee, president of Wilshire Private Markets Group; Karl Beinkampen, chief investment officer; Gary Gabriel, managing director responsible for the Asia-Pacific region Assets under management: $6.2 […]
The state of California has no shortage of financial woes, but returns for its two biggest public pension systems are back to levels not seen since the 2008 economic implosion. Indeed, in quick succession, the $146.4 billion California State Teachers’ Retirement System and the $225.7 billion California Public Employees’ Retirement System reported meaningful gains in […]
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