Jennifer Harris

San Diego allocates $365m to infrastructure(2)

The San Diego County Employees’ Retirement System has created a 5 percent allocation for infrastructure, making it the latest pension fund to earmark funds for an asset class that many pensions like for its long-term, stable returns and low correlation with the overall market.

New Mexico tops Texas Teachers with largest alternatives allocation of US pensions(3)

The New Mexico Educational Retirement Board has upped its alternatives allocation from 15 percent of total assets to 35 percent at the expense of the equities and fixed income asset classes. The new target surpasses that of the Teacher Retirement System of Texas as the largest alternatives allocation of any US pension plan.

Platinum in $304m telecom deal(3)

Tom Gores’ Platinum Equity will add to its already substantial telecom portfolio with the acquisition of Covad Communications.

Spectrum invests $300m in genealogy company(4)

Spectrum Equity Investors will acquire a majority stake in The Generations Network, a company the firm has backed since 2003. The investment deepens Spectrum’s holdings in the online media sector.

Hellman & Friedman buys stake in Grosvenor(4)

The private equity firm is the latest to invest in the growing fund of hedge funds industry.

NY State to allocate $1bn for ‘emerging’ managers(2)

The New York State Common Retirement Fund is upping its allocation to so-called emerging managers, including women- and minority-owned firms.

Kellwood rejects $544m Sun Capital bid(2)

Clothing marketer the Kellwood Company, whose brands include Baby Phat and Nautica, has rejected Sun Capital’s $21 per share bid, deeming the offer price too low.

Colorado pension creates $126m ‘opportunity’ asset class

The Colorado Public Employees’ Retirement Association has created a new allocation bucket for investments that fall outside of its existing asset class definitions.

AIG Highstar closes $3.5bn infrastructure fund(4)

AIG Highstar Capital’s third fund is four times the size of its predecessor, as investor interest in infrastructure continues to rise.

Lehman raises $670m for ‘hung bridge’ fund(3)

Lehman Brothers is following the example of Golman Sachs, KKR and others in launching a fund that will pick up deal-related debt at a discount.