Lauren Dillard named head of Solutions Group Jacques Chappuis steps back into advisory role AlpInvest pulled two funds off market this year Carlyle Group announced Tuesday the head of its Solutions Group, Jacques Chappuis, stepped back into a senior advisor role after leading the group since early 2013. Chappuis is being replaced by Lauren Dillard, […]
Washington committed more than $1.5 bln to PE at December meeting Backs KKR, Advent, PAG Asia Washington PE portfolio valued at $17.8 bln The Washington State Investment Board closed out 2015 with three new commitments to private equity totaling more than $1.5 billion, spokesman Chris Phillips told Buyouts in an email. The $103.4 billion retirement system’s […]
CalPERS to review treatment of DB plans in ESG reviews $290 bln pension already includes DB questions in due diligence Committee also approves revised PE policy The California Public Employees’ Retirement System will soon review general partners’ willingness to freeze or alter portfolio companies’ defined benefit plans, CIO Ted Eliopoulos said at the pension’s December […]
Is the much-discussed private equity portfolio of California Public Employees’ Retirement System performing even better than widely thought? An examination of the performance and cost figures that CalPERS released late last month on its private equity program suggests that it is. Revelations include: Realized deals are outperforming the rest of the portfolio, suggesting untapped value in the unrealized portfolio. […]
Side letters have become widespread in PE Bain allows only necessary legal, regulatory terms Third Asia fund closed this month on $3 bln Bain Capital took advantage of the popularity of its third Asia fund, recently closed at its $3 billion hard cap, to limit what investors could put into side letters. The firm has done this before with its Asia funds. […]
Projects $500 mln in annual commitments for next three years Commits $60 mln to TSG Consumer Partners Co-invests $22.5 mln in Parthenon deal The Indiana Public Retirement System expects to commit approximately $500 million to private equity in 2016, according to a strategic plan outlined in its December 11 meeting materials. Per its current pacing model, Indiana’s […]
Firm: Searchlight Capital Partners Fund: Searchlight Capital II, L.P. Target: $1.5 bln Hard cap: $1.8 bln Amount Raised: $1.9 bln Placement Agent: Park Hill Group Searchlight Capital Partners is set to close its second fund on its increased cap of $1.9 billion, according to two people with knowledge of the fundraising. The close could happen […]
New fund offers six month fee break, incentives for large commitments KKR now manages 17 pct of Oregon’s PE portfolio Re-up to $10 bln KKR fund matches Oregon’s largest of 2015 The Oregon Investment Council delivered a massive re-up for one its oldest private equity managers at its Dec. 9 meeting, allocating up to $500 […]
Offers LPs choice of deal-by-deal or European style waterfall Eyes $7 bln to $8 bln target for Fund IX Not clear when fund will officially launch Apax Partners, which is talking to limited partners about raising $7 billion to $8 billion for its next flagship fund, plans to offer a choice of carried interest plans designed […]
• CalPERS tries to strike balance between high costs and strong returns • Review includes presentations from CalSTRS, Idaho pension leaders • CalSTRS CIO calls GPs “greedy and self-interested” The California Public Employees’ Retirement System conducted a comprehensive review of its private equity allocation on November 16, providing board members and the public a glimpse […]