Texas Attorney General Greg Abbott last week ruled that the University of Texas Investment Management Co. (UTIMCO) must release top-line performance data on funds within its private equity portfolio – whether or not those partnerships signed confidentiality waivers. In doing so, he disagreed with arguments put forth by Atlas Venture and Austin Ventures that such […]
The California Public Employees’ Retirement System (CalPERS) last Monday put an end to nearly a year of tensions between itself, private equity fund managers and the media. All 12 members of the CalPERS investment board approved a plan to post performance data on all 250 funds in its $6.7 billion private equity portfolio on the […]
Attention principals, associates and analysts: California State Teachers’ Retirement System (CalSTRS) wants you! The Sacramento pension fund has set aside $100 million to invest in private equity funds managed by young and emerging partnerships. That means it will invest in either funds managed by new partnerships spun out of bellwether firms, young firms raising their […]
After a year of bids, appointments and negotiations, California State Teachers’ Retirement System (CalSTRS) has made one final shuffle to its roster of advisors and gatekeepers. Last week the Sacramento-based pension fund replaced longtime advisor and gatekeeper Pathway Capital Management with Cambridge Associates LLC. Cambridge Associates will recommend private equity partnerships, perform due diligence and […]
All but 10 of the general partners in the California State Teachers’ Retirement System’s (CalSTRS) $4.4 billion private equity portfolio have agreed to waive confidentiality agreements to allow the pension fund to disclose how their investments are performing. CalSTRS will release an updated list of internal rates of return (IRRs) at the March 5 meeting […]
A former vice president in Salomon Smith Barney’s investment banking division, David Loglisci, has taken charge of New York State Common Retirement Fund’s $6.5 billion private equity portfolio. He replaced Paula Chester as director of private equity investment January 2. Loglisci has not yet announced changes to the fund’s investment strategy, nor has he made […]
Bucking a trend that has pulled nearly $1 billion from new limited partners into the private equity arena, Yale University’s $10.5 billion endowment has scaled back its private equity allocation by $800 million to $1.84 billion. After two years of write-downs and only a handful of commitments to new funds, the 30-year old private equity […]
The Washington State Investment Board last month indicated it would not buy a stake in Kohlberg Kravis Roberts & Co. The news follows reports in October that both the Washington State Investment Board and the Oregon Investment Council, which each manage roughly $40 billion and $48 billion in assets respectively, were in talks to buy […]
Putting $12 billion to work would be difficult even in good times. In a down market with low valuations and scarce exit opportunities, the task is downright ominous. Add to that a slew of new consultants, gatekeepers, fund managers and staff to manage the portfolio, and you’ve got the California State Teachers’ Retirement System (CalSTRS). […]
The California State Teachers’ Retirement System (CalSTRS) was hit with a Public Records Act request by San Jose Mercury News earlier this month. It asks the pension fund to disclose the performance of its $4.4 billion private equity portfolio. To date, the Sacramento-based pension has not made any fund performance data public, but it has […]