Armed with new legal authority to invest in alternative investments, the $15 billion Georgia Employees’ Retirement System has hired Catharine Burkett and Ben Cahyono to begin investing in alternative investments such as private equity, according to James Potvin, the system’s executive director.
Filling a key position that had been vacant for a year and a half, the Massachusetts Pension Reserves Asset Management Board, the state’s main pension body, named Michael Bailey as its new head of private equity. He will start on Feb. 26. The post was previously held for several years by Wayne Smith, who left in July 2011.
1. Your new fund, Clearlake Capital Partners III LP, just raised $789 million, nearly double the size of your previous fund. How will you stay true to mid-market turnarounds? Over the past six years, we have essentially been investing between $30 million and $50 million per investment. That has been our sweet spot. In […]
Expect to see a modest bump-up in money committed by the nation’s largest public pension funds this year, according to experts, because of a strengthening stock market, a healthy pace of distributions and the persistence of large unfunded pension liabilities.
The pace of new private equity and alternative investments at the Florida State Board of Administration is likely to reach about $6 billion in fiscal 2012-2013, as Florida’s primary $126 billion pension fund gradually ramps up its allocations to so-called strategic investments from zero to 11 percent of the portfolio, according to John Kuczwanski, an SBA spokesman.
The $150 billion New York State Common Retirement Fund, one of the nation’s biggest emerging manager investors, has created a special $250 million separate account for private equity co-investments alongside such managers, according to a senior official at the fund.
Clearlake Capital Group, a Los Angeles, Calif.-based firm, closed on its third fund, Clearlake Capital Partners III LP, having raised $789 million in commitments from a number of prominent investors. The closing was announced on Jan. 3, but actually occurred in December.
The $11 billion Maine Public Employees Retirement System, which only started investing in private equity in 2008, plans to double its allocation to PE and also boost other alternatives like infrastructure and commodities, according to Andrew Sawyer, the pension’s chief investment officer.
1. Your firm, which has been around since 2001, focuses on the lower-middle market, mainly in the Midwest. Besides returns, what are your investors most interested in? One of our founding theses was to stay in the lower middle market, and because we are based in Cleveland, we also have a geographic focus. Many firms […]
When all the numbers are in, 2012 will go down as one of the biggest years for fundraising in the United States, boosted by a dramatic return of mega-funds.