The co-head of one of Europe’s biggest buyout firms called on the industry to “break the cycle of the merry-go-round of private equity firms buying assets off one another.”
1. First of all, congratulations on your new role as executive director at Adveq. What specifically will you be doing? My role will be to manage our U.S. turnaround and buyout investing. As a firm, we cover every segment of private equity globally, and tend to focus on specific segments within our targeted geographies. So […]
The giant Dutch pension manager Algemene Pensioen Groep, better known as APG, hired away Greg Jania from WP Global Partners, the Chicago-based funds-of-funds manager, to be its new head of fund investing and to help APG build out its in-house private equity capabilities following the sale of its stake in AlpInvest Partners, the prominent funds-of-funds manager. Jania had been with WP Global since 2005.
The Blackstone Group, the world’s largest private equity firm, is set to accelerate its plans to compete in an expanding sub-genre of private equity funds—those that make minority equity investments in leading hedge fund managers.
Summer Street Capital Partners, a private equity firm based in Buffalo, N.Y., announced a final close on its latest fund, Summer Street Capital III LP, attracting approximately $280 million in commitments, according to one of the firm’s managing partners, Michael McQueeney. The fund’s initial target was $250 million.
Alan Van Noord, who has directed investments for the Pennsylvania Public School Employees’ Retirement System for more than a decade, has decided to retire in June. He will be replaced on an interim basis by James Grossman, Jr., deputy chief investment officer.
Pension: Pennsylvania Public School Employees’ Retirement System Assets Managed: $49 Billion (Dec. 2012) PE Assets Managed: $10.8 Billion (June 2012) PE Allocation (Target): 22% (22%) (June 2012) Chief Investment Officer: Alan Van Noord Alan Van Noord, who has directed investments for the Pennsylvania Public School Employees’ Retirement System for more than a decade, has decided […]
SAN FRANCISCO, February 12 - Welcome, private equity conventioneers! Those who thought, or hoped, that the heightened public scrutiny of private equity would fade following the presidential election, think again.
1. How many funds do you look at—first cut, second cut, final cut—in any given year? We generally think that for a U.S. portfolio, 35 to 40 funds is about as many as you need if you’re covering the whole landscape of early-stage venture, growth equity, buyouts and distressed. We generally try to invest that […]
For decades Cambridge Associates has been one of the world’s largest private-equity consultants to university endowments and other big investors. Now the firm will take over the management of entire institutional portfolios as well.