Lawrence Aragon

The $29 billion Teachers’ Retirement System of the State of Illinois is planning to start pledging in a big way to various private equity strategies over the next year to reach its goal of a 10 percent allocation to the asset class. The tactical plan for the fiscal year, which began on July 1, calls […]

Fund-raising updates for Maranon Capital, Fireman Capital and Birch Hill

Briefs about LPs in Illinois, Fresno and Alaska

Firm: Maranon Capital LP Fund: Maranon Mezzanine Fund LP Target: $250 million Chicago-based Maranon Capital is hoping to hold the next close for its first mezzanine fund in the August-September timeframe, Buyouts has learned. The shop, which launched Maranon Mezzanine Fund LP in early 2008, is targeting $250 million. It held a first close at […]

The Los Angeles Fire and Police Pensions is reviewing responses to the RFP it issued in May for private equity investment advisers to fill the hole left by its termination of Aldus Equity Partners. The limited partner is also considering using a single adviser for both the core and specialized parts of its private equity […]

The Teachers’ Retirement System of the State of Illinois recently added to the list of private equity firms in its emerging managers program with a pledge to a mezzanine fund. It also gave an additional slug to a name-brand mega-fund. In mid-June, the plan sponsor committed up to $25 million to Maranon Mezzanine Fund LP, […]

The first close for a new fund is meant to be a strong statement. A buyout shop wants to come out with an impressive figure, a tally that threatens its target, signaling to prospective limited partners they ought to get in while the getting is good. And if a firm can go “one and done,” […]

A cleantech-focused VC fund can still draw them in

The Teachers’ Retirement System of the State of Illinois in late May upped its target allocation to private equity to 10 percent from 8 percent. In addition, the limited partner made three private equity pledges totaling $175 million and is trying to fill two staff positions and hire a consultant. The LP made other adjustments […]

Many economists are looking to small businesses to lead the economy out of a recession. Can small shops do the same for the buyout market’s current funk? No universal definition exists of what are variously called small-cap or lower-mid-market buyout funds. Some define them as funds of less than $500 million. Others define them as […]