Dietrich Knauth
Michigan committed $775 mln to PE New pledges to energy and life sciences co-invest vehicles $69.5 billion system has 18 pct allocation to PE State of Michigan Investment Board committed $1.5 billion to private-markets investments in Q4, including $300 million to TPG Sixth Street Partners’ credit fund for late-stage growth companies. The board, which manages […]
SBA: Any licensing slowdown is in the past Agency revamping its internal processes Wants to drum up demand for SBICs in rural areas The U.S. Small Business Administration, facing criticism for a slowdown in licensing times in the Small Business Investment Company program, is working on a series of fixes to improve the efficiency of […]
Eric Albertson is senior investment director in charge of secondaries at Aberdeen Standard Investments. He spoke with Buyouts about his firm’s approach to finding value in the secondary PE marketplace. Aberdeen tends to focus on the smaller end of the secondary market. What kinds of opportunities are you seeing? We will use secondaries sporadically throughout […]
AUM: $69.3 bln PE allocation target: 12 pct Current allocation: 11.6 pct including growth and venture Why is this important: Pension lifts target to PE by 1 point, pledges $480 mln to new strategies Contact MassPRIM: contact@mapension.com, or +1 617-946-8401 Massachusetts Pension Reserves Investment Management Board approved a 1 percentage point increase in its target allocation […]
The $69.3 bln pension boosted its PE allocation target to 12 pct MassPRIM added American Industrial Partners as a new GP in its portfolio New commitments went to Blackstone, Providence Equity Partners and Spark Capital, Massachusetts Pension Reserves Investment Management Board approved a 1 percentage point increase in its target allocation to private equity at […]
Why this is important: Washington state backs 2 TPG vehicles: Rise Fund impact, Sixth Street Capital Solutions AUM: $132.3 bln; PE: $21.3 bln Target allocation to PE: 23 pct Contact the board: +1 360-956-4600 or recep@sib.wa.gov Washington State Investment Board at its February meeting approved $750 million in private equity commitments, backing funds focused on growth, credit, […]
Pledges include $250 mln to TPG Rise II impact $200 mln to TPG Sixth Street fund that will provide financing to growth companies Also: financial-services buyouts, green-energy infra Washington State Investment Board at its February meeting approved $750 million in private equity commitments, backing funds focused on growth, credit, and impact investments. The board committed: […]
Why this is important: Emerging managers has become a major part of the system’s allocation strategy Teacher Retirement System of Texas hired Kirk Sims from Illinois Teachers Retirement System to lead its emerging manager program. The $150 billion Texas Teacher pension has an active emerging manager program, with $3.7 billion committed since inception, and another $2.1 billion invested with […]
Kirk Sims previously managed emerging and minority investment programs at Illinois TRS Texas is planning to boost allocation to early-stage managers and firms that have outgrown the EM label Sims takes over from Sylvia Bell, who had been running the program while also serving as COO Teacher Retirement System of Texas hired Kirk Sims from Illinois Teachers Retirement […]
Why is this important: Largest U.S. public pension aims for more traditional ways to lift PE exposure AUM: $354 bln Co-investments returned 15.3 pct over 10 years Secondaries and funds of funds returned 7.4 pct over 10 years California Public Employees’ Retirement System is looking for more traditional ways to boost its exposure to private […]