Mark Boslet
Gains came slowly last year to the Colorado Public Employees’ Retirement Association’s venture portfolio, with the LP continuing to demonstrate a tepid approach to the asset class. Funds from Longitude Capital Management, Technology Crossover Ventures and LLR Partners led the portfolio of 24 funds with vintages of 2003 to 2013. However, gains among the holdings […]
If you want proof secondary purchases can lift portfolio performance, look no further than the Santa Barbara County Employees’ Retirement System. Several direct purchases have put up nice numbers in the pension fund’s modest private equity and venture capital portfolio, according to a December 2013 portfolio report. The LP has generally shied away from venture. […]
Nordea scoops top fund-of-funds spot Copenhagen-based Nordea Private Equity has been judged the world’s most consistently high-performing fund-of-funds manager, according to private equity researcher Preqin. Nordea’s top ranking was down to top-quartile results by all three of its funds of funds, the last of which was raised in 2009. The firm typically commits about 10 […]
The growth equity portfolio at the Hawaii Employees’ Retirement System is an eclectic mix of small-scale later stage funds and massive multi-billion capital pools with a broad, balanced approach. Results are reasonably good. Only five of its funds were underwater or at breakeven as of December, and four of these had a 2011 or 2012 vintage, […]
Many bubble-year funds still struggle to turn the corner. This is the case at the Employees’ Retirement System of the State of Hawaii, where mixed results describe a portfolio of 23 funds with vintages of 1998, 1999 and 2000. One strategy that has benefited this LP is buying up slices of familiar funds in the […]
The Employees’ Retirement System of the State of Hawaii has been a tepid investor in venture capital. The money manager holds 28 funds from the past decade, four of which were relatively small secondary market purchases of funds it already held. It favors a small group of managers including New Enterprise Associates, U.S. Venture Partners, […]
Venture distributions have been up nicely for the past couple of years, with returns coming not just to contemporary funds but to those from bubble-era vintages that often badly need them. Still, progress is slow in many cases. This is true at the Pennsylvania Public School Employees’ Retirement System, where the LP holds 11 venture […]
The Pennsylvania Public School Employees’ Retirement System favored late-stage managers, dodged brand name funds, pledged money inconsistently and is struggling with the returns on its venture investments. Funds from Tenaya Capital, Aisling Capital and LLR Partners are the portfolio’s big winners, with the 2008 Aisling Capital III showing a remarkable performance gain in the final […]
The Public Employees’ Retirement System of Nevada has stepped up its venture capital investing over the past couple of years with commitments to Battery Ventures, Canaan Partners and Technology Crossover Ventures. Returns on these latest investments are obviously too difficult to predict, but older funds from these firms and others, including New Enterprise Associates, have […]
The Indiana Public Retirement System’s recent-vintage venture-capital portfolio notched strong gains in the second half of last year, according to a recent portfolio report. Funds from Trinity Ventures, Institutional Venture Partners, DCM, Aisling Capital and Insight Venture Partners advanced smartly. Opus Capital’s 2009 fund, Opus Capital Venture Partners VI, made a dramatic leap from a […]