LP Radar – April 2016

See the latest PE LP updates, including allocation changes and people moves.

29 April

Washington State Investment Board has committed €275 million to The Sixth Cinven Fund, $250 million to Apax IX and $150 million to Menlo Special Opportunities Fund.

 

28 April

Temasek appointed Song Hwee Chia and Dilhan Pillay as presidents, who will both join the current president Gregory Curl. Fidah Alsagoff, Michael Buchanan, Chin Yee Png and Juliet Teo have also been appointed as senior managing directors.

 

27 April

European Bank for Reconstruction & Development is considering an investment in an Armenia focused private equity fund and will seek to work with a fund manager which can demonstrate a dedicated and capable management team and a coherent investment strategy addressing the small and medium-sized enterprise opportunities.

Last week ATP Private Equity Partners made a commitment of $33 million to Industrial Growth Partners V, which specialises in investing into growth-oriented, lower middle-market companies.

Finnish Local Government Pensions Institution (KEVA)’s private equity investments returned 0.3% for the first three months of the year, ‘expectedly meagre’, as described by the Chief Investment Officer.

 

26 April  

International Finance Corporation, a member of the World Bank Group, has allocated $15 million to Innovation Works' third venture capital fund which targets early and mid-stage internet companies across China.


25 April 

GIC Private Limited has created multiple new senior investment positions. Choo Yong Cheen is appointed the chief investment officer for the private equity investment division. He will assume office in June 2016.


22 April

Dallas Police and Fire Pension System has approved a commitment of $5 million each to Industry Ventures Secondary Fund VIII and Industry Ventures Partnership Holdings IV.

Ohio State Highway Patrol Retirement System's board directed staff to issue a Request For Proposals seeking potential managers for a private equity secondaries mandate.

 

21 April 

Cornell University has appointed Kenneth Miranda as new chief investment officer. He will assume office in July and will manage the Office of University Investments' $6 billion assets.


20 April

Plymouth County Retirement System is seeking proposals from managers of a direct private equity strategy. The board intends to commit approximately $10 million to a closed-ended investment fund.

 

19 April

The New Zealand Superannuation Fund has sold the stake in Hellan & Friedman VII, JMI Equity Fund and H.I.G Bayside Loan Opportunities Fund II. The sales are a part of strategy to have fewer but deeper relationships with investment managers.

Caisse de dépôt et placement du Québec is moving to consolidate the firm's investments into public and private companies, which will be managed by the firm's Chief Investment Officer. Additionally, all top-down activities related to the overall portfolios and research will be amalgamated into a new division.


18 April

International Finance Corporation committed $40.6 million to Multiple Alternative Asset Management's second private equity fund.

Caisse de Dépôt et Placement du Québec announced that Andreas Beroutsos has decided to step down as Executive Vice-President of Private Equity and Infrastructure.

National Railroad Retirement Investment Trust has named William Carr, acting Chief Executive Officer and Chief Investment Officer, as the new Chief Executive Officer of the $25 billion pension fund.


15 April

San Francisco Employees' Retirement System has committed $100 million to Weathergage Capital Investments 2016, 45.87 million to AnaCap Credit Opportunities III and $25 million to Weathergage Venture Capital IV.

Virginia Retirement System has announced commitments of $200 million to Leonard Green Equity Investors VII and $150 million to Vista Equity Partners Fund VI.

 

14 April

Quincy Retirement System is seeking proposals from direct private equity managers. The board intends to commit approximately $5 million to a closed end investment fund.

 

13 April

Los Angeles City Employees Retirement System has approved $25 million to Green Equity Investors VII, $10 million to TCV IX and $25 million to Thoma Bravo Fund XII.

Kentucky Teachers' Retirement System (KTRS) has issued a Request for Quotation as it searches for a new private equity investment consultant. The pension fund's current portfolio includes partnerships in buyouts, mezzanine, energy, infrastructure and other categories.


12 April 

Ireland Strategic  Investment Fund and Allied Irish Bank have made fund commitment to Causeway Capital Partners' debut fund which targets SMEs across Ireland.

California Public Employees' Retirement System's Investment Office is currently seeking an Investment Manager to actively manage private equity strategic partnerships, co-investments and funds of funds.


11 April

New York City Employees' Retirement System has hired J. David Enriquez, a former Rothschild banker, as its Private Equity Senior Investment Officer. He started on February 29.

 

8 April

Teacher Retirement System of Texas has committed $125 million to Lightspeed Venture Partners Select II, $100 million to Element Co-investment Limited Partnership and $75 million to TPG Growth Spectre Co-Invest.

 

7 April

Greenwich Town Retirement System has approved the life-span extension of Welsh, Carson, Anderson and Stowe IV at a March 31 meeting.

 

4 April 

Overseas Private Investment Corporation has made commitments of $150 million to each Olympus Capital Holdings' Asia Development Partners III and Clearwater Capital Partners' Fund IV.

 

1 April

Alaska Permanent Fund has hired Russell Read as its Chief Investment Officer, the institution announced earlier this week. Mr. Read most recently worked as the CIO of Gulf Investment Corporation.

 

To view last month's LP Radar, click here.