Sale of diary products company earns firm a 2x return
Ukraine-headquartered Horizon Capital has closed its second fund on US$390m. Emerging Europe Growth Fund II exceeded its US$300m target, with commitments from existing investors such as The Church Pension Fund, Amanda Capital, CV Starr and FMO, as well as attracting new LPs like Industriens Pension (Denmark), Alpha Associates (Switzerland), UTIMCO (USA), and the International Finance […]
French private equity firm Pechel Industries Partenaires has reached a final close on its third fund, Pechel Industries III, with a total of €165m raised. The Paris-based lower mid-market investor will target development capital and LBO opportunities in its home country.
CalPERS hopes to stagger capital calls in down market The nation’s largest pension fund, the California Public Employees’ Retirement System, is reaching out to general partners to stagger their capital calls. “We called the [private equity] partners for our planning purposes, and we are coordinating [the] timing of those [capital] calls with them,” said Patricia […]
The New York State Common Retirement Fund, which controlled $153.9 billion at last check, recently re-upped to a middle-market buyout fund and began new relationships with a debut buyout fund and an Asian fund of funds. This latest round of commitments totaled $210 million. The limited partner pledged $100 million to Ares Corporate Opportunities Fund […]
Pennsylvania State Employees’ Retirement System has made a commitment of up to $25 million to Yucaipa American Alliance Fund II LP, earmarked for 10 to 15 control buyout investments in mid- to large-size U.S. distribution/logistics, manufacturing and retail companies. The pledge represents a new relationship for the limited partner, even though the pension fund is […]
Institution: New Mexico State Investment Council Assets Under Management: $16 billion Leader: Gary Bland, state investment officer Size of Private Equity Portfolio: $1.3 billion, with another $2 billion+ in outstanding commitments Private Equity Allocation: 9.6 percent Target Allocation: 8 percent ($1.3 billion), with a range of 6 percent to 12 percent Private Equity Consultant: Aldus […]
Secondary brokers may be wary of HarbourVest Partners after the firm backed out of a signed deal, but investors aren’t HarbourVest Partners has surpassed its fund-raising target on Dover Street VII, a vehicle designed to invest in limited partner stakes of private equity funds, according to sources familiar with the effort. HarbourVest began raising the […]
The California Public Employees’ Retirement System recently pledged a total of more than $800 million to an array of funds with strategies ranging from Asian growth and Italian buyouts to U.S. energy. Interestingly, the limited partner expanded upon its previous pledges abroad while reducing the size of commitments to domestic funds. This latest round of […]
The New Jersey State Investment Council recently confirmed its high regard for opportunities in the secondary market with a fresh $75 million commitment to Swiss funds-of-funds manager Partners Group. The pledge to Partners Group Secondary Fund 2008 follows a $50 million commitment to the firm’s previous secondary fund, Partners Group Secondary 2006. Earlier this year, […]
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