Christopher Witkowsky

Fidelity shutters fledgling $500m buyout unit

The private equity unit’s employees will all be let go except for its head Rob Ketterson, who will continue to run Fidelity Ventures.

HM Capital buys newspaper assets

The Dallas, Texas-based private equity firm is the latest to snap up struggling publications.

Florida invests nearly $500m in private equity in Q1

The $113bn pension committed to GI Partners, FS Equity, Hellman & Friedman and Charterhouse Capital Partners in the first quarter of 2009.

Illinois Teachers’ commits $100m more to Blackstone VI

The $27bn pension committed $50m to Blackstone’s sixth buyout fund in October, but decided to add another $100m after raising its allocation to private equity to 10% in May.

Lehman VC to spin-out, RE decision expected soon

A management group from Lehman Brothers Venture Partners will spin-out to become Tenaya Capital. The firm will have $750m in capital and 45 portfolio companies and retain all the third-party limited partners from Lehman’s venture funds. A decision on Lehman's real estate operations is expected in the next month.

Oak Hill closes $3.8bn Fund III

The mid-market firm, established by Robert Bass in the 1980s, secured the backing of major pension investors for its latest investment vehicle.

New York Common's real estate portfolio losses 32%

The New York State Common Retirement Fund has assets valued at $110bn, down from $154bn about a year ago, due in part to a 32.6% decline in the value of its real estate portfolio.

Indiana commits to Mesa West debt fund

The pension, with assets of $16bn as of 30 June 2008, made more than $300m of commitments in the past month, including to a debt fund from Mesa West Capital. The Mesa West fund, which is reportedly targeting up to $500m, is expected to close in the coming months, sources say.

Life after Chrysler

Cerberus has forgiven a $500m loan to the US automaker to help push through a sale to Italy's Fiat, bringing the Chrysler saga nearer an end. Christopher Witkowsky explores.

GM private equity programme is ‘business as usual’

GM is set to meet its LP obligations and has no plans to sell fund interests on the secondaries market, the head of its private equity programme told PEO.