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 […]
Cuyahoga Capital Partners LLC is in the preliminary stages of planning a fundraising for a new fund-of-funds vehicle focused on mid-market and lower mid-market buyout funds, a source with knowledge of the firm’s plans told Buyouts. The fund will also seek to back emerging managers. The Cleveland-based firm has not yet set a target for […]
Management at AlpInvest Partners NV is expressing no small amount of glee at the sale of their company, Europe’s largest private equity investor, to The Carlyle Group by its Dutch pension fund owners, APG and PGGM. For the first time, AlpInvest’s management stands to gain a direct equity stake in firm, something that is nearly […]
Cuyahoga Capital Partners LLC is in the preliminary stages of planning a fundraising for a new fund-of-funds vehicle focused on mid-market and lower mid-market buyout funds, a source with knowledge of the firm’s plans told Buyouts. The fund also will seek to back emerging managers. The Cleveland-based firm has not yet set a target for […]
The California Public Employees’ Retirement System is tweaking its asset allocation strategy, reducing its allocation to fixed income and boosting its allocations to highly liquid and inflation-linked assets, as a way to improve the risk-adjusted performance of its $220 billion-asset fund. Administrators of the nation’s largest public pension fund are betting the new approach will […]
An acquisition of funds-of-funds manager AlpInvest Partners N.V. by The Carlyle Group would make the latter more attractive to investors if the firm goes public next year as is widely expected. A source familiar with the deal talks confirmed to Buyouts on Dec. 23 that the Washington, D.C.-based firms is in talks to buy the […]
Anticipating higher payouts to retirees in the years ahead, the Pennsylvania State Employees’ Retirement System plans to throttle back its allocation to buyouts and venture capital in favor of more conventional stocks and bonds. The board, meeting in December, adjusted its allocations to various asset classes, “in order to meet the liquidity needs arising from […]
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