Sam Sutton
The Los Angeles County Employee Retirement Association does not commit to many small or lower middle-market managers. In fact, small buyouts represent only a little more than one-twentieth of its buyout portfolio’s total market value.
Former U.S. Rep. Barney Frank – the “Frank” in the Dodd-Frank financial reform act – believes Congress should reconsider the $150 million threshold above which private equity firms must register with the SEC.
TPG Capital plans to hire a local team for growth investments in Africa, expanding the geographic scope of its third growth equity fund, according to a Hamilton Lane report made available by the Teachers’ Retirement System of Louisiana.
The Los Angeles County Retirement Association plans to commit approximately $2 billion to private equity funds this year, or $1.1 billion more than it committed in 2014, Chief Investment Officer David Kushner said in an email.
Crestview Partners constructed its early investment portfolio with heavy exposure to the financial services sector. Then the Lehman Brothers collapse and tumbling equity markets hit that portfolio like a hurricane.
The Oregon Public Employees Retirement Fund paid roughly $300 million in fees to the firms that manage its private equity portfolio in 2013. Consider it a bargain.
Gávea Investimentos closed its latest Brazilian private equity fund on $1.1 billion, adding another vehicle to the already impressive list of Latin America-focused funds to hold closes in 2014.
Despite generating similar returns, private equity investment staff at the California State Teachers’ Retirement System received fiscal year bonuses that amounted to only a fraction of what their peers at the California Public Employees’ Retirement System received, according to state documents.
Siris Capital expects to secure 85 percent of the commitments to its latest flagship fund in a December first close, with a final close planned for January.
New Jersey State Investment Council chairman Robert Grady stepped down from his role following the council’s Nov. 19 meeting. The former Carlyle Group executive chaired the council during a four year period that featured a surge in the value of its private equity portfolio.