Private Equity
New York City’s five pension funds made $600 million in fresh commitments to three private equity funds, according to a spokesman for the New York City Comptroller’s Bureau of Asset Management, which manages their assets. As of June 30, 2012, the five pensions had combined assets of $122 billion.
3 min read · 27 August 2012
Aurora Capital Group, a Los Angeles-based mid-market private equity firm, is two thirds of the way to its $900 million fundraising goal for its latest fund, Aurora Equity Partners IV LP, Buyouts has learned. The fund, which held its first close in June 2011 and has had rolling closes since then, is expected to have a final close by the end of the year.
2 min read · 27 August 2012
Versa Capital Management, a firm specializing in mid-market distressed buyouts, received a $150 million anchor commitment for its newest fund, Versa Capital Fund III LP, from the $50 billion Pennsylvania Public School Employees Retirement System. With the fund’s $750 million target, the commitment represents an unusually large 20 percent of the fund’s fundraising goal.
2 min read · 24 August 2012
4 min read · 13 August 2012
2 min read · 13 August 2012
The California Public Employees’ Retirement System has decided to wind down its California Initiative, a $1 billion program launched in 2001 to invest in companies that are based in some of the state’s most economically disadvantaged areas. The $237 billion pension said the program, which it plans to phase out over five years, “has not met CalPERS investment return expectations.”
2 min read · 08 August 2012
Swander Pace Capital, a lower-to-mid-market buyout firm specializing in consumer products companies, has begun raising a new fund, Swander Pace Capital V LP, according to a person familiar with the offering. The fund has a $450 million target.
2 min read · 06 August 2012
The $15 billion New Mexico State Investment Council, the state’s largest manager of public assets, has been making several changes to its allocation and fund line-up, including a decision to drop Apollo Global Management’s Apollo Credit Fund LP on the advice of the council’s outside adviser, R.V. Kuhns.
2 min read · 03 August 2012
3 min read · 27 July 2012
Vicki Fuller, an executive at Alliance Bernstein, was tapped to be chief investment officer of the $150 billion New York State Common Retirement Fund, the nation’s third largest pension fund. She is due to start on Aug. 30, and her annual salary for running a pool of money larger than the annual output of New Zealand: $300,000.
2 min read · 27 July 2012
