The Institutional Limited Partners Association, the main group advocating for best practices between institutional investors and private equity firms, named Michael Mazzola, the head of alternative investments at MetLife, as its new board chairman. The appointment was effective on Nov. 7th.
Gary Bruebaker reckons that without private equity, Washington State’s pension funds would be worth $6 billion less than they are worth today. So it’s no surprise that Bruebaker, the Washington State Investment Board’s chief investment officer since 2001, has been a big fan of private equity. As Bruebaker declares, he wants all of his GPs […]
1. Silver Lake Sumeru focuses exclusively on mid-market technology buyouts. Would you say that it is a good time for that? It’s a very active environment now. It’s a much larger market than most people realize. If you look at the mid-market technology space globally, there are around 2,000 deals a year with a total transaction […]
Pension System: Washington State Investment Board Assets Managed: $84 Billion (June 30, 2012) PE Assets Managed (Main Pension Fund): $16 Billion (June 30, 2012) PE Allocation (Target): 26% (25%) (June 30, 2012) Chief Investment Officer: Gary Bruebaker The $84 billion Washington State Investment Board has committed $550 million to two buyout firms that focus on […]
A new study reported that the average U.S. university endowment lost 0.3 percent in fiscal 2012, which ended on June 30th, a huge contrast with 2011 when the average endowment gained 19.2 percent. Not only did the average endowment lose money, but it markedly trailed the S&P 500 stock index, which returned 5.5 percent for the year, including dividends.
Gary Bruebaker reckons that without private equity, Washington State’s pension funds would be worth $6 billion less than they are worth today.
A discussion of trends and issues in buyout strategies and fundraising, from our Chicago conference in June.
From our conference in June, a panel of experts discuss trends and tips for GPs & LPs.
In a heated political season during which private equity has come under fire by candidates and critics who say it destroys jobs, private equity’s main trade group, the Private Equity Growth Capital Council, has been waging war in defense of the asset class, reminding people that the single largest investors in private equity are public pensions on which millions of public workers rely for their retirements.
1. Wellspring Capital Management has been around since 1995 and you’re now on Fund V, which closed in 2011. How would you describe your firm and its strategy? We are an old fashioned, disciplined value firm that focuses on buying ‘right,’ which generally means buying less-than-stellar assets. They require work, and we roll up our sleeves […]