Washington State Investment Board remains a robust player in private equity The Washington State Investment Board earlier this month moved closer to its new and comparatively aggressive private equity target allocation of 25 percent. The state pension committed $250 million across four funds, two that are sector specific, one of which represents an emerging markets […]
California State Teachers’ Retirement System raises its long-term PE target to an aggressive 9% In the fall of 2006, the California State Teachers’ Retirement System (CalSTRS) raised its long-term private equity target to an aggressive 9%, up from 6 percent. The state pension fund figured that it would take up to five years to get […]
The New Jersey State Investment Council has taken its first minority stake in the management company of a private equity firm—a 5 percent ownership stake in AnaCap Financial Partners, a London-based firm that acquires mid-sized European financial services firms. “Many of the businesses targeted by AnaCap are characterized by underlying assets with predictable and/or annuity-like […]
The Pennsylvania Public School Employees Retirement System is in talks with LLR Partners to commit 25 percent of the Philadelphia-based buyout shop’s latest fund, sources told Buyouts. That is the maximum PSERS is allowed to commit to a single fund. LLR Partners is targeting $600 million for its third fund, a hefty increase from its […]
Limited Partner: California State Teachers Retirement System Alternative Investments Program Founded: 1988 Focus: Buyouts, venture capital, mezzanine, distressed debt, and equity expansion funds Located: Sacramento, Calif. Private Equity Assets Under Management: $15.7 billion In the fall of 2006, the California State Teachers’ Retirement System raised its long-term private equity target to an aggressive 9 percent, […]
Target: Undertone Networks Price: $40 million Sponsor: JMI Equity Financial Adviser: Seller: Jordan Edmiston Group Inc. Legal Adviser: Sponsor: Goodwin Procter LLP; Seller: Gunderson Dettmer Stough Villeneuve Franklin & Hachigan, LLP JMI Equity has committed $40 million in growth equity to Undertone Networks, a manager of online advertising campaigns, after courting the company’s founder for […]
New Jersey Division of Investment is tinkering with notion of buying ownership stakes in management companies The New Jersey Division of Investment hopes to join the small club of large investors that have purchased ownership stakes in the management companies of private equity firms. The $78 billion limited partner is in discussions with a handful […]
More money is the key to making good returns on investments in the biotech sector says a survey by HBM Partners, the Swiss venture capital house. It looked at all trade sales of venture-backed biotechnology and specialty pharma companies from 2005 to 2007 and found that investments that generated returns of 3x or more, known […]
Index joins Wellington in the largest VC funding in a European online media business.
UK venture firm MTI has reached a first close on University of Manchester spin-out vehicle UMIP Premier Fund, raising £32m of a final target of £50m. The fund will have first approval of any investment opportunities generated by the university’s technology research, which has already produced companies like Renovo, a wound treatment business, which floated […]