LP Radar – August 2015

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

31 August

Employees' Retirement System of the State of Hawaii has appointed Thomas Williams executive director effective November 2.

 

 28 August

International Finance Corporation is considering a $10 million commitment to Jungle Ventures II, a Singapore-based venture capital fund.

New Mexico Educational Retirement Board will discuss its pending litigation against Renaissance Capital Partners at its meeting today.

 

27 August

Montana Board of Investments' exposure to funds of funds will decrease over time in order to help to avoid the extra fee drag.

Orange County Employees Retirement System has completed an independent audit of its due dilligence process over investment activities. The report made a few recommendations to enhance the process for higher risk managers, such as private equity, direct lending and hedge funds.

 

26 August

The Dallas Police and Fire Pension System has hired James Perry as chief investment officer, a newly created position.

The Board of Denver Employees Retirement Plan has approved a $40 million commitment to Kayne Anderson Energy Fund VII, a buyout vehicle.

 

25 August

The Minnesota State Board of Investment has approved to commit $150 million to Warburg Pincus XII, $100 million to Summit Partners Growth Equity IX, $100 million to Brookfield Capital Partners IV, $100 million to Thomas H. Lee VII and $100 million to TPG Partners VII.

San Mateo County Employees' Retirement Association has committed $15 million to Blue Road Fund. The Private Equity sub-composite of the Alternatives portfolio was the primary driver of outperformance in 2Q 2015.

 

24 August

At its Investment Committee meeting on Thursday, Louisiana State Employees Retirement System will select finalists for the buyout mandate.

Rhode Island State Treasury has committed $30 million to CapitalSpring Investment Partners VI, according to the draft minutes posted on its website last Friday.

 

21 August

Ben Gray will continue working with the TPG Asia team until Asia fund VI is invested, which they anticipate will be in 2017. Following the full investment of Asia VI, TPG will participate with Ben as he builds a new business focused on the Australia region.

Ohio Public Employees Retirement System committed $200 million to Top Tier Investment Partners VII, according to the quarterly alternatives report, presented at the August board meeting.


20 August

El Paso Firemen & Policemen's Pension Fund is seeking an Executive Director, who would report to the 11-member board of trustees.

Fresno County Employees Retirement Association voted to invite Hamilton Lane and Warburg Pincus to present to the Board for further consideration and education, continuing the process of their Private Equity Search.

 

19 August

City of Fort Lauderdale General Employees' Retirement System approved the search for a private equity manager. The pension fund will be looking at various strategies to provide it with a multitude of choices.

Teachers' Retirement System of the State of Illinois' investments generated a positive 4.1 percent rate of return during fiscal year 2015.

 

18 August 

It was reported that Ontario Municipal Employees Retirement System committed to OMERS Ventures II; the pension plan participated in the fund alongside Cisco and BMO Financial Group. The venture capital vehicle will invest into Canadian tech companies.

 

17 August

The Board Members of the Marlborough Retirement System are seeking proposals from managers of private equity fund of funds. The retirement system intends to commit approximately $5 million.

According to recently released documents, at its meeting on April 8, 2015, San Francisco Employees' Retirement System approved a commitment of up to $100 million in Clearlake Capital Partners IV. Investment of $50 million in the fund closed on June 9, 2015.

 
14 August 
 
According to the agenda for its Board meeting next week, California Public Employees' Retirement System committed $500 million to Blackstone Capital Partners VII in May.

 According to recenly released documents, Public School Retirement System of the City of St. Louis has committed $10 million to Monroe Capital Private Credit Fund II.

 
 
13 August

American Trading and Production Corporation (ATAPCO) is likely to make new commitments to funds in Africa and Europe over the next year. The institution continues to fulfil commitments to vehicles focused on Latin America, emerging Asia, Australia and Israel. Additionally, ATAPCO is always making new investments in U.S. funds. In terms of sectors, they will be committing to a dedicated for-profit education vehicle.

The Board Members of the Quincy Retirement System are seeking proposals from managers of a direct middle market buyout private equity strategy. The retirement system intends to commit approximately $4 million to a closed end investment fund.

 

12 August 

BT Pension Scheme has given a mandate of £1 billion to Hermes GPE. The £1 billion allocation will be invested globally over three years, split evenly between funds and co-investments.

Orange County Employees Retirement System has issued a request for proposal for two separate international direct lending funds, focused on Europe and Asia-Pacific, respectively.

 

11 August 

Caisse de dépôt et placement du Québec has added Sanjay Gupta as senior director for private equity.

The Board Members of the Worcester Retirement System are seeking proposals from managers of a direct middle-market strategy. The pension fund intends to commit approximately $10 million to a closed end investment fund.

 

10 August 

Last month, San Diego City Employees' Retirement System adopted a new asset allocation policy which increased the pension fund's private equity target from 5% to 10%.

 

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