The North Carolina State Treasury, which runs the state’s $77 billion in pension assets, named Kevin SigRist to be its new chief investment officer, according to Julia Vail, a spokeswoman for the treasury. SigRist, who plans to start on Jan. 14, will oversee 22 investment professionals.
Fresh from taking on the additional role of chief investment officer, Michael Trotsky, executive director of the Massachusetts Pension Reserves Investment Management Board, moved to shore up his agency’s brain drain by pushing through a new compensation plan that aims increases incentives for strong performance. The plan was approved at MassPRIM’s Dec. 6 board meeting.
The chiefs of the world’s two biggest private equity firms described their asset class as one of the last, best hopes available to score the kinds of returns investors need to catch up following the broken hopes of the financial crisis, when pension funds and individual investors generally fell short of their investment goals.
Finishing up a record year for secondary funds generally, Partners Group closed out its latest offering, Partners Group Secondary 2011 LP, raising €2 billion ($2.6 billion). The closing puts the total amount raised by secondary funds in 2012 at more than $20 billion, which is above the previous record year of 2009, when $17 billion was raised, according to data from Thomson Reuters.
The $24 billion Iowa Public Employees’ Retirement System has earmarked $650 million for a private equity pool to be managed by Pathway Capital Partners. Pathway will invest the money on IPERS’s behalf during 2013, according to Judy Akre, a pension spokeswoman. The formal decision was made at IPERS’s board meeting on Dec. 6.
The Oregon Investment Council, one of the nation’s largest private equity investors, committed $400 million across five funds since its previous meeting, according to the meeting minutes and the council’s spokesman, James Sinks. The new commitments are the first under the council’s new chief investment officer, John Skjervem, who began the job in November.
1. The International Energy Agency reported recently that the U.S would overtake Saudi Arabia in the next seven years as the world’s leading oil producer and be a net oil exporter by 2030. What do you make of that? That’s so 39 seconds ago. We’ve been increasing domestic production dramatically since 2009. The high prices […]
After some blockbuster deals during the first half of the year, the secondary market took a breather as sellers waited out the U.S. presidential elections to get more clarity on regulations and the direction of the economy.
Armed with a $20 million commitment from the Nebraska Investment Council, Beecken Petty O’Keefe & Company is back on the fundraising trail, seeking $400 million for its newest fund, Beecken Petty O’Keefe Fund IV LP. The Chicago based firm, which specializes in mid-market health care buyouts, is raising the fund just two years after closing on $400 million for Fund III.
The New Mexico State Investment Council, the agency that manages the state’s $16 billion “permanent endowment,” agreed to plow $150 million into two private equity funds at its November meeting. The commitments included a $75 million pledge to Energy Capital Partners’ EnCap Energy Capital Fund IX LP and an equal amount to Nordic Capital’s Nordic Capital Fund VIII LP.