Dietrich Knauth

Biggest new pledge to CVC’s latest Asia fund Smaller commitments to local venture, a first fund 2019 pacing slower than December After a busy finish to 2018, New York State Common Retirement Fund took a more moderate approach to PE pacing in the first two months of 2019. The $207 billion fund committed a total […]

Why this is important: Texas TRS commits big to Blackstone megafund AUM: $154 bln; PE portfolio $21.2 bln Teacher Retirement System of Texas committed more than $700 million to private equity in March, with Blackstone Group taking home most of the new commitment dollars. The $154 billion retirement system committed $600 million to Blackstone Capital Partners […]

Placed $600 mln with Blackstone Capital Partners VIII $154 bln pension also committed to Crestview, KKR Texas TRS has a 13.8 pct allocation to PE Teacher Retirement System of Texas committed more than $700 million to private equity in March, with Blackstone Group taking home most of the new commitment dollars. The $154 billion retirement system […]

$8.1 bln system raised PE target to 11 pct from 7 pct May use secondaries to avoid vintage-year concentration Secondaries can expand relationships with promising EMs As Rhode Island prepares to significantly boost its private equity pacing, the state may use the secondary market to avoid concentrating too much of its portfolio in the next […]

Why is this important: Chicago pension building minority- and women-owned firms in PE portfolio AUM: $10.8 billion PE target allocation: 5 pct; actual 2.8 pct Law requires state’s pension funds to try to allocate a fifth of assets to businesses owned by women, minorities, people with disabilities Contact Chicago Teachers: +1 312-641-4464 Chicago Teachers’ Pension Fund […]

Chicago Teachers’ has 5 pct target for PE $10.8 bln pension began the search in January More than 40 pct of assets managed by firms owned by minorities, women, persons with disabilities Chicago Teachers’ Pension Fund committed $40 million to four emerging managers, adding to the number of minority-owned and women-owned firms in its PE […]

Why is this important: PE returns have been climbing for 8 years For the first time, all 5 systems show net IRR exceeding 10 pct AUM: $197.3 bln Contact the NYC Controller’s Office: +1 212-669-3916 New York City Pension Plans committed $855 million to private equity funds in Q4 2018 and the start of 2019, […]

New commitments included buyouts, secondaries, Hispanic-focused businesses The five pensions continue to show improvement in PE returns since 2011: CIO Commitment pace matched Q3 but was less concentrated New York City Pension Plans committed $855 million to private equity funds in Q4 2018 and the start of 2019, backing longtime partners KKR and Warburg Pincus as […]

CalPERS investment committee voted 10-3 to approve the concept of new captive PE funds Critics expressed concerns over consultants’ involvement and uncertainty about governance The new funds would focus on late-stage venture and long-hold investments California Public Employees’ Retirement System has a tentative green light to proceed on its long-simmering move toward an in-house private […]

SNAPSHOT Company: Zarbee’s Naturals Financial Adviser: Houlihan Lokey Legal Adviser: Finn Dixon Herling WHY THEY WON 9.7x multiple and 43% IRR Revenue increased 15x over a seven-year hold Zarbee’s grew into the No. 1 pediatrician-recommended children’s cough/cold brand Added new products, expanded presence across the U.S. When L Catterton in 2011 acquired a majority of Zarbee’s Naturals, […]