Steve Gelsi
The Oregon Investment Council has thrown its support behind proposed legislation that would allow it to create an independent agency in the vein of a state lottery system to run the state’s $67 billion Oregon Public Employees Retirement Fund, which includes a $14 billion private equity portfolio.
With high-profile deals such as Bain Capital’s acquisition of BMC Software, 2013’s crop of larger sponsored M&A deals saw their average equity contributions fall to their lowest level since 2007 while leverage levels crept up. That has prompted talk of discipline from deal-makers interviewed by Buyouts.
Standard & Poor’s has downgraded generic drug maker Par Pharmaceutical Cos’s credit rating as it takes on more debt to acquire JHP Pharmaceuticals as an add-on. The move could mark a fresh challenge for the company’s owner, TPG Capital, as it raises a bridge fund for its next flagship private equity pool.
Blue Sea Capital’s Fund I has drawn a $15 million commitment from the $118 billion Texas Teacher Retirement System, as the Florida-based lower mid-market buyout shop lands a major private equity LP in its effort to spin off from Brockway Moran & Partners.
Blackstone Group’s fourth European fund led the pack among the buyout shop’s crop of funds in the market, garnering $3.9 billion of fresh commitments in one of many fourth-quarter milestones, as the largest U.S.-based private equity firm’s assets under management jumped 26 percent to $267 billion.
1 Adveq and the Coller Institute of Private Equity at the London Business School have teamed up to survey more than 1,200 public and private pension funds about the asset class. The survey revealed that public and private pension funds have increased their allocations to the asset class by hundreds of billions since 2005. Why did […]
Texas Teachers taps EM program for commitment Blue Sea Capital founded by Brockway Moran veterans New firm lands major private equity LP Blue Sea Capital’s Fund I has drawn a $15 million commitment from the $118 billion Texas Teacher Retirement System, as the Florida-based lower mid-market buyout shop lands a major private equity LP in […]
Private equity investments by college and university endowments delivered an average return of 9.1 percent in 2013, falling short of the 11.7 percent jump in overall portfolios and reversing a year-ago outperformance by the asset class, according to a closely-watched annual survey by the NACUBO-Commonfund Study of Endowments.
GTCR, the Chicago-based firm focused on financial services and technology, health care, and information technology, may increase its average equity check by a high-single-digit percentage rate after closing GTCR Fund XI with $3.85 billion in commitments as the largest buyout fund in its 34-year history.
The California Public Employees’ Retirement System is seeking a senior portfolio manager for co-investing to oversee a four-person team, as the largest U.S. public pension fund looks to take part in buyout deals.