Justin Mitchell

California Public Employees Retirement System made almost $2 billion in private equity commitments in May and June, according to an agenda posted on its website ahead of its monthly Board of Administration meeting next week. In May, CalPERS committed $550 million to Advent International GPE IX, LP. This $17.5 billion fund will invest in “buyout, […]

Motive Partners, which received backing last year from a major seeding firm, raised $500 million for its debut fund to invest in financial services-focused technology businesses, a source told Buyouts. Motive was targeting $500 million for Motive Capital Fund I. It’s not clear if Motive held a final close on Fund I. Motive Partners declined […]

New York State Common Retirement Fund announced last week it allocated $300 million to Blackstone Infrastructure Partners in a deal closed June 30. Soon after that, Blackstone announced that BIP “held the final close of its inaugural fundraising phase” with $14 billion raised in total. That $14 billion is made up of $7 billion from […]

California Public Employees Retirement System’s Board of Administration briefly considered a strict policy restricting member communications about board decisions before backing off the idea after criticism from several board members. The policy, parts of which are still being scrutinized by some board members, was introduced just as the system is considering a massive and controversial […]

New York State Common Retirement Fund announced more than $1 billion in commitments in its monthly transaction report for June 2019. Among the commitments: • $300 million to Blackstone Infrastructure Partners, closed June 30. BIP is an “open-ended, commingled investment fund” managed by the Blackstone Group; • $200 million to Whitehorse Liquidity Partners III LP, […]

Teachers’ Retirement System of Illinois announced $350 million in private equity commitments at its Board of Trustees meeting Friday, the fund said. The commitments were: • $75 million to Arlington Capital Partners; • $75 million Aurora Capital Partners; • $200 million to Carlyle Group. The Arlington and Aurora allocations represent new relationships, while Carlyle already […]

Florida State Board of Administration committed $868 million to private equity managers in 2019 Q2, it announced this week, out of $1.85 billion in total commitments. Funds included heavyweights like Warburg Pincus and Blackstone Group. Commitments include: • $100 million to Stone Point Capital’s Trident VIII fund, focused on buyouts; • $150 million to Searchlight […]

New York State Teachers’ Retirement System made commitments to nine private equity funds in the second quarter, according to documents released ahead of Wednesday’s July board meeting, totaling about $522.4 million. Among the new commitments: up to $100 million to Amulet Capital Fund II; up to $75 million to CapStreet V; up to £23.1 million ($28.1 […]

Massachusetts Pension Reserves Investment Management Board (MassPRIM) committed more than $1 billion out of a planned private equity pacing of as much as $2 billion in 2019, and recently approved more than $500 million in new commitments. At its May 14 board meeting, MassPRIM allocated $260 million to Advent International GPE IX, LP, $250 million […]

Federico Schiffrin is a private equity partner with Unigestion, a Switzerland-based investment manager with $23 billion in AUM, where he runs the firm’s direct investments in the United States. We sat down with him recently to get his thoughts on family offices and independent sponsors. What is it like working with family offices? There are two things […]