A Latin American fund offering from Southern Cross jumped the highest for Washington State Investment Board out of a selection of its fund managers potentially coming back to market in 2015.
In its latest report, Cambridge Associates found that the benchmark performance for private equity lagged behind public companies, both large and small, over the past five years through Dec. 31, 2013.
The typical alternative asset portfolio at state pension systems includes private equity, real estate, hedge funds and real assets.
Through June 30, 2013, the top public pension system with the highest 10-year returns from private equity investments has been the Teacher Retirement System of Texas with 18.2 percent.
The 2012 vintage Platinum Equity Capital Partners-A III has climbed the most for the $50 billion Pennsylvania Public School Employees’ Retirement System (PSERS) for the period Sept. 30, 2012, to Sept. 30, 2013. That vehicle was up 84.8 percentage points out of negative territory to a positive 28.72 percent IRR in 2013 from -56 percent in 2012.
EnCap Investments’ fund family dominates the top three spots of this week’s scorecard, which takes a look at the top ten and bottom ten performers of the Indiana Public Retirement System as of Dec. 31, 2013. The selection takes a look at some 179 buyout-related vehicles committed to by the state pension fund ranging a 10-year vintage span from 1999 to 2009.
All eight key buyout sectors tracked by Cambridge Associates posted strong positive returns in the last quarter of 2013.
Through Aug. 14 there have been 363 M&A exits by U.S.-based private equity sponsors this year, totaling almost $65 billion in disclosed value.
Of the 295 M&A exits completed by U.S.-based financial sponsors in the first half, the largest portion belonged to the high technology industry with 46.
In the first half of 2014, 295 M&A exits were completed by U.S.-based financial sponsors, with a total disclosed value of more than $52 billion.