Watch a panel of LPs discuss the strategies they use to identify promising emerging managers, from our June 2012 conference.
Fresh off the record $8.25 billion October close for Global Infrastructure Partners’s sophomore fund, another player in the infrastructure space, Stonepeak Infrastructure Partners, is proving that the infrastructure investing trend isn’t benefiting just one firm.
Incline Equity Partners, a spin-out from PNC Financial Services, appears to be laboring to wrap up fundraising on its first stand-alone fund, Incline Equity Partners III LP, according recently filed data with the Securities and Exchange Commission. The firm, which spun out from PNC in 2011, raised $142.8 million as of the October filing, well shy of the $300 million goal that the firm set when it started fundraising in the summer of 2011. A person familiar with the firm said the SEC data shows a lag and that an accurate account of the money raised so far would show about $180 million had been committed.
Another state pension system has moved to bolster in-state economic activity by launching a special fund to target private equity and venture investments within the state’s boundaries. The latest effort is from the $40 billion Colorado Public Employees Retirement Association, which launched the Colorado Mile High Fund in October.
With the appointment of Cheryl Eason as its new chief financial officer, the $243 billion California Public Employees Retirement System has installed a final brick in its efforts to fortify the giant pension against risks such as financial crises and pay-to-play scandals.
Pension: California Public Employees Retirement System Assets Managed: $246 Billion (Oct. 18, 2012) Private Equity Assets Managed: $36 Billion (June 30, 2012) Private Equity Allocation (Target): 14% (14%) (June 30, 2012) Chief Investment Officer: Joe Dear With the appointment of Cheryl Eason as its new chief financial officer, the $243 billion California Public Employees Retirement […]
Watch a panel discussion from June 2012 as a group of financial experts discuss the recent phenomenon of institutional investors establishing separate account relationships with private equity firms.
Kristin Gilbertson, the long-time chief investment officer for the University of Pennsylvania’s $6.8 billion endowment, has stepped down, the university confirmed. She headed Penn’s endowment office since August 2004.
Private equity didn’t rescue the nation’s biggest university endowments, most of which underperformed common benchmarks such as the Standard & Poor’s 500-stock index in fiscal 2012, which ended on June 30. Most universities blamed lackluster performance on overseas stock markets, with yardsticks such as the MSCI World Index falling 14 percent in fiscal 2012.
Does being part of a family investment firm like the $5 billion Pritzker Group mean that you are more focused on preserving capital than growing capital? No, but the first rule of making money is don’t lose money. So that clearly is an important part of any investor’s lexicon. But we’re in the business of […]