Jennifer Harris

American Express spinout closes $225m FoF

Venture Investment Associates has raised $225 million for its sixth fund of funds, bringing its assets under management to more than $1 billion.

TRS returns 2.31 percent for Q1 2008

The Teachers’ Retirement System of the State of Illinois reported 2.31 percent returns for the first quarter of its 2008 fiscal year, a number which does not take into account private markets returns. Separately, the pension approved three new private equity commitments.

Warburg leads $1bn oil investment

Warburg Pincus, Yorktown Energy Partners and Lehman Brothers have invested $1 billion in oil company Antero Resources.

TCW lists energy FoF on GSTrUE

The debt-focussed private investment firm has raised $194 million from listing an energy fund on Goldman Sachs' private exchange. It is the fourth private equity vehicle to do so since the exchange began trading in May.

Merits of new exchanges(2)

The proliferation of new private securities exchanges could help private equity firms become more institutionalized and function as a first step prior to a public listing, industry players say.

AFL-CIO backs TXU buyout(3)

The AFL-CIO has sent a letter to TXU shareholders recommending that they approve KKR’s and TPG’s buyout bid, which will be voted on 7 September.

ILPA elects CalPERS’ Mark to chair

As the chair of the Institutional Limited Partners Association, CalPERS’ Joncarlo Mark will focus on growing the organisation’s research and education platforms.

Lone Star tries to cut Accredited price by $175m(2)

Lone Star said in a letter to Accredited Home Lenders today that it would loosen the closing conditions of the deal if Accredited agrees to cut its price from $400 million to $225 million.

Perelman to raise $500m SPAC

Following the lead of Tom Hicks and Michael Gross, US billionaire Ron Perelman plans to raise a $500 million blank-cheque pool to complete an unspecified acquisition.

Roark Capital buys Tex-Mex chain(3)

Atlanta-based Roark has added Moe’s Southwest Grill to its food franchise group, which includes Carvel Ice Cream, Cinnabon, Seattle’s Best Coffee and Schlotzsky’s.