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PEI Awards winners find success in uncertain timesDuring December, thousands of private equity industry participants in more than 50 countries took the time to think about which firms, advisors and transactions truly stood out from the rest in 2010. They voted in our annual PEI Awards readers’ poll, the results of which were revealed this week and highlight the fact that the brightest firms in the industry have flourished despite challenging conditions.
- Despite reduction, Oregon has billions for PE
Oregon’s public employees’ pension is reducing its commitment pace to private equity, but still has $2bn for the asset class this year.
- CalPERS debates mega-funds, hardline fee stance
The performance of mega-funds was a key point at a recent meeting, where a board member said he didn't understand why the pension continued 'to do business with the mega-funds'.
- PEI Awards: Oaktree, Apax retain crowns
The results are in: Oaktree and Apax are among the winners that have once again been honoured by peers in the PEI Awards. Meanwhile, TPG swept the boards in Asia, while Actis, Blackstone, Bridgepoint, Robeco, CalPERS, Temasek and Partners Group were also considered standouts by voters.
- TPG buys stake in VTB for $100m
The firm is participating in a $3.3bn public offering for a 10% stake in the Russian state-owned bank.
- Carlyle gets green light on $304m traffic safety deal
Carlyle and Macquarie will take private Melbourne-headquartered Redflex, the company behind cameras used in the US to catch red light runners.
- TPG, Actera concoct $2.1bn Turkish exit
TPG bought spirits maker Mey Icki, its first investment in Turkey, for $900m in 2006.
- TPG Asia partner Mary Ma to depart
Ma, who was CFO of Lenovo prior to joining TPG, is reportedly setting up a fund with Louis Cheung, president of Chinese insurer Ping An.
- New Mexico considers withdrawal from TPG-Axon
The hedge fund, which launched in 2005, has underperformed since the financial downturn and has experienced significant turnover, leading the pension to recommend redeeming its capital.
- New Jersey considers big secondaries offering
The state’s $70bn pension is considering selling a big chunk of its private equity portfolio to pare down relationships and potentially 'kick-start' the programme that has been mostly inactive for two years.