Pensions: CalPERS, CalSTRS PE Return: CalPERS: 19.2%; CalSTRS: 32% Assets: CalPERS: $208 billion; CalSTRS: 142.7 billion Return on investment is up at one giant California pension fund, but it’s down at another. The California Public Employees’ Retirement System earned 12.3% on its investments over the last year, down slightly from the 12.7% it earned during […]
Pension: The Pennsylvania State Employees’ Retirement System Advisors: Arden Asset Management, The Rock Creek Group, Mesirow Financial, Morgan Stanley, PAAMCO, Robeco Sage Capital Mandate: Funds of Hedge Funds The Pennsylvania State Employees’ Retirement System (PA SERS) is upping its exposure to high-risk, high-return portfolio allocations, hiring new funds of hedge funds. The strategy supplants a […]
The California Public Employees’ Retirement System (CalPERS), the largest US pension fund, has posted a 12.3% return on investments for the one-year period ended June 30, 2006. The fund’s alternative investment management programme, which specialises in private equity and venture capital holdings, earned 19.2% compared with a benchmark of 18.6%, while absolute return strategies garnered […]
In the wake of Enron and the 2002 passage of Sarbanes Oxley, it was easy to have compassion for the Big Four accounting firms. Their reputations in tatters after gross lapses in duty by “a few bad apples,” accountants were faced with public scolding, extensive new legal oversight, and the daunting challenge of re-earning their […]
Zero2IPO, a research firm that tracks the Chinese venture capital market, is working with Silicon Valley’s Startup Capital Ventures to raise a VC fund.Zero2IPO, which is based in Beijing, filed a document with the Securities and Exchange Commission declaring its intent to raise the fund, which is listed as Zero2IPO China Angel Fund I and […]
True Ventures, a venture firm based in San Francisco, has raised $77 million for its first fund, according to a regulatory filing. The firm expects to close on $100 million by the end of the year. The fund counts Paul Capital Partners, Sequoia Holdings and Park Street Capital among its 22 accredited investors. Founded by […]
Six-year-old RWI Ventures is halfway toward completing the close of its second fund, according to a recent regulatory filing with the Securities and Exchange Commission. The Menlo Park, Calif.-based early stage firm has raised nearly $52 million of its targeted $100 million fund from 24 investors. The fund is on par with the firm’s previous […]
Swiss alternative asset specialists Partners Group has raised €282m for its final close of Partners Group Global Mezzanine 2005, beating its €250m target. The fund will aim to invest 70% in mezzanine funds, with the remaining 30% focused on direct mezzanine tranches on private equity backed deals. Partners Group has already committed 55% of the […]
German mid-market buyout firm Deutsche Beteiligungs AG (DBAG) has made €98m following the IPO of portfolio company Bauer, a German building company, on the Frankfurt Stock Exchange. The initial share price for Bauer at IPO was €16.75 per share, towards the bottom of its €16.50 to €21.50 offer range, raising €135m and giving it a […]
ABN AMRO Capital is acquiring Amtico International, a manufacturer of high end flooring, from Electra Private Equity in a secondary buyout transaction. The sale of the £98.25m business is expected to complete in four weeks. As a result of the buyout, ABN AMRO Capital will acquire a 56% stake in Amtico. The company’s management team […]