Pension System: Florida State Board of Administration Assets Managed Overall: $158 billion (April 30, 2012) Assets Managed (Main Pension): $126 billion Private Equity Allocation (Main Pension): $6 billion (4.8%) Private Equity Target (Main Pension): 5% Executive Director & Chief Investment Officer: Ash Williams The Florida State Board of Administration, which manages $158 billion in pension […]
Credit Suisse, the giant Swiss bank, says it plans to sell two of its private equity units as part of a new plan to boost its capital base.
Firm: Mill Road Capital Fund: Mill Road Capital II LP Target: $525 Million Raised So Far: $126 Million Founder: Thomas Lynch Placement Agent: Triago Mill Road Capital, a company that takes toe-hold positions in public companies with the aim of taking some of them private, has started raising money for its second fund, Mill Road […]
You were tapped to lead AIG at the height of the financial crisis. What was the result? It was extraordinarily complex. When you’re in Washington at that level and in those very difficult circumstances, it’s really hard to make sense of the place. People ask me whether I’d do it again, and just to show […]
Organization: The Investment Fund for Foundations Fund: TIFF Special Opportunities Fund Amount Raised: $30 Million Assets Under Management: $9.5 Billion Private Equity Assets Managed: >$2 Billion The Investment Fund for Foundations, or TIFF, a non-profit investment manager that manages more than $9.5 billion for more than 800 institutions such as Barnard College, the American Museum […]
Henry Kravis, co-chairman and co-CEO of KKR, was interviewed at Thomson Reuters’ PartnerConnect 2012 conference on April 3 by Stephen Adler, editor in chief of Reuters News. Here is a video of the 38-minute interview, followed by some snippets of what Kravis had to say about a host of topics. Humble Beginnings When KKR started […]
Following on the heels of AXA Private Equity’s June announcement that it raised the largest secondary fund ever with $7.1 billion in pledges, the company announced that it had bought $850 million in private equity investments from the Ontario Municipal Employees Retirement System. AXA Private Equity now manages around $20 billion in secondary assets, including more than 800 fund positions.
In a bid to further scale up its private equity presence, BlackRock Inc., the world’s largest asset manager with $3.7 trillion under management, said that it planned to buy the private equity fund of funds unit of reinsurer Swiss Re. That unit, Swiss Re Private Equity Partners, managed about $7.5 billion in private equity commitments as of May. The combined group, BlackRock Private Equity Partners, will manage about $14 billion in private equity funds of funds.
As part of a long-anticipated consolidation of the private equity funds of funds industry, Boston-based HarbourVest Partners and its affiliates have agreed to pay $1.4 billion to acquire the private equity assets of Conversus Capital, which is the world’s largest publicly listed fund of funds manager. As a result of the deal, Conversus will wind up operations and its staff will resign.
Despite seismic euro zone fears during the second quarter, private equity fundraising in the U.S. had its strongest period since the third quarter of 2008, the same period that rocked financial markets with the implosion of Lehman Brothers and helped trigger global financial turmoil that the world’s economy has not yet exited.