The $85 billion Washington State Investment Board continued its push into global private equity markets at its June board meeting, contributing $800 million, or $400 million each to two funds, one the latest flagship fund from Advent International and the other from Nordic Capital, which invests mainly in Scandinavia and nearby areas.
Proving that the hiring process at public pensions can sometimes be very s-l-o-w, the $10.4 billion Los Angeles City Employees’ Retirement System named Rodney June as its chief investment officer, replacing Daniel Gallagher, who retired two years ago, in June 2010.
In a move that runs starkly against the trend at most public pensions, the $24 billion Pennsylvania State Employees’ Retirement System has decided to shrink its allocation to private equity by nearly half, to just 16 percent from its current 30 percent allocation.
1. You have a separate account business at Siguler Guff. Separate accounts seem to be getting a lot of attention from LPs. How and when do they make sense? We do separate accounts when somebody wants to do something that we have an expertise in that is different from what we’re doing in a core […]
At its most basic level, private equity is about shopping. And while shopping for companies is very different than buying a tie at Neiman Marcus or a baseball glove at Sports Authority, the two pursuits have similar aims.
Firm: Global Infrastructure Partners Fund: Global Infrastructure Partners II LP Target: $6 Billion Raised So Far: $5.5 Billion Global Infrastructure Partners, a New York-based buyout firm focused on infrastructure, has agreed to buy out Chesapeake Energy Corp.’s interest in the two firms’ pipeline joint venture, Chesapeake Midstream Partners LP, for $2 billion. GIP also agreed […]
It’s often said the two things that drive private equity are returns and relationships. So which one pulls more weight when a general partner heads out on the fundraising trail to raise a new fund?
Elevation Partners, the private equity firm that famously counts Irish rock star Bono among its co-founders, sold 5.2 million of its Facebook shares (or 13 percent of its stake) for $198 million as part of Facebook’s IPO on May 18.
As senior vice president, Jane Rowe manages C$12.2 billion (US$11.9 billion) in private equity assets for Teachers Private Capital, the stunningly successful private equity arm of the C$117 billion Ontario Teachers’ Pension Plan.
Your firm just closed on River VI LP, attracting $222 million in commitments, a bit more than twice the size of your previous fund. Although you closed above your $200 million target, the fund was in the market for a year and a half. How would you describe the fundraising climate for lower-middle market private […]