European venture capital is proving surprisingly resilient in the face of the global economic conditions with UK data provider Library House revealing that activity in the third quarter of the year is 30% up on Q2. In Q3, over 750 investors backed more than 400 companies across Europe, a slightly higher figure than the previous […]
VCs celebrate floatation of Oxford-based biotech business.
UK small-cap investor Inflexion Private Equity has sold Ilchester Cheese, a producer of speciality cheeses, to Tine, a Norwegian milk co-operative, for an undisclosed sum. The exit generated a 2x return, with an IRR in the mid-20s, from an investment made in 2004. Inflexion backed a £14m MBO in December of that year, investing £5m […]
CalPERS said it may require that employers increase contributions by an estimated 2% to 4% of payroll The California Public Employees’ Retirement System (CalPERS), the largest U.S. public pension fund, said it may need to tap California public employers for more money if heavy investment losses it suffered in recent months do not reverse. CalPERS […]
Harvard Management Company, which looks after the university’s considerable endowment, has retained Dallas-based advisory firm Cogent Partners to pitch the sale of a secondary portfolio, according to PEHub.com, the sister Web site of Buyouts. The asking price for the available portfolio, which includes a variety of venture capital and buyout funds, is said to be […]
Judging by its latest round of commitments, the $62.7 billion Pennsylvania Public School Employees’ Retirement System (PSERS) sees plenty of opportunity abroad. The limited partner recently committed varying amounts to funds focused on European non-performing loans, non-U.S. companies with operational problems, and pan-European middle-market investments. It also snuck in a few bucks for U.S. venture […]
Keith Grinstein, 48, a general partner with Second Avenue Partners and strategic advisor to Madrona Venture Group
Institution: Teachers Retirement System of Texas Leader: Britt Harris, CIO Size of Private Equity Portfolio: $6 billion Current Private Equity Asset Allocation: 6 percent of $108 billion Target Allocation for Private Equity: 10 percent of overall holdings Private Equity Consultant: Hamilton Lane The Teacher Retirement System of Texas may be ratcheting back a tad on […]
The latest round of commitments from the $60 billion Washington State Investment Board demonstrate its continued appetite for international investments. The limited partner re-upped with London-based Charterhouse Capital Partners, but also added to two firms—Triton Partners and Fountainvest China Growth Capital Fund—to gain further exposure abroad. The biggest commitment of up to €200 million ($300 […]
Tough times loom for the European biotechnology sector as investors flee and funding becomes increasingly difficult to attract. With companies collapsing, the next 12 months could make or break the life sciences industry.