LP Radar – December 2015

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

23 December

Los Angeles County Employees' Retirement Association has approved the 2016 private equity consultant request for proposals.

AP Fonden 7 is searching for three to four asset managers to run a private equity portfolio of approximately SEK 10 billion through segregated accounts.

 

22 December

Denver Employees Retirement Plan has committed $40 million to Adams Street 2016 Global Fund. The institution has a 7% allocation to private equity.

Los Angeles Fire & Police Pension System has committed 23 million to Gilde Buy-Out Fund V, $15 million to Bain Asia Capital Fund III and $5 million to Angeles Equity Partners I.

 

21 December

University of Michigan has committed $53 million to Black Toro Capital Fund II, $30 million to Deerfield Healthcare Innovations Fund, $15 million to GSR Ventures V and $40 million to Graham Partners IV.

City of Fort Lauderdale Police and Fire Retirement System has decided to invest in Invesco Partnership Fund VI, Private Equity VI and International Fund VI in the amount of $11.5 million.

 

18 December

During the third quarter of 2015, Missouri Local Government Employees' Retirement System committed $50 million to Catterton Growth Partners III, which invests in North American companies, according to a press release.

 

15 December

Teacher Retirement System of Texas has committed $50 million to a U.S.-focused special situations fund, Stellex Capital Partners, managed by Stellex Capital Management. The investment was finalized on November 16 and announced at a meeting last week.

Ventura County Employees Retirement Association has doubled its target allocation for private equity from 5% to 10%.

 

14 December

Last week, Pennsylvania State Employees' Retirement System approved a new two-year strategic investment plan with an increase of annual pacing of new private equity commitments from $500 million to $750 million.

 

11 December

Los Angeles City Employees' Retirement System has committed 23 million to Gilde Buy-Out Fund V according to an agenda for a meeting this week.

 

10 December

Maryland State Retirement and Pension System has committed $90 million to Bain Capital Asia Fund III and $50 million to Frazier Healthcare Growth Buyout Fund VIII.

 

Teachers'Retirement System of the State of Illinois has committed $555 million in its December meeting to Advent International Corporation, of Boston, Massachusetts, Leonard Green & Partners, of Los Angeles, California and Lightspeed Venture Partners of Menlo Park, California. 

 

9 December

Minnesota State Board of Investment has committed $150 million each to KKR North America Fund XII and Energy & Minerals Group Fund IV and $100 million each to Madison Dearborn Capital Partners Fund VII and Advent Global Private Equity VIII.

Virginia Retirement System has committed $170 million to TSG7, managed by TSG Consumer Partners – $136 million is allocated to TSG7A and $34 million to TSG7B. The investment was finalized on November 13 and announced at yesterday's Board of Trustees meeting.

 

8 December

Teachers' Retirement System of Louisiana, headquartered in Baton Rouge, has committed $100 million to Thomas H. Lee Equity Partners VII and $50 million to TCV IX, managed by Thomas H. Lee Partners and Technology Crossover Ventures.

 

7 December

Fresno County Employees Retirement Association has committed $34 million to Warburg Pincus Private Equity Fund XII, as reported by its investment consultant, Verus, at the pension fund's meeting last week.

 

3 December

According to a report from the Bureau of Investment, in the quarter ended September 30, Michigan Department of Treasury committed $50 million to Entertainment IP Fund, a direct lending fund, focused on restructuring opportunities managed by Shamrock Capital Advisors.

 

2 December

Vermont State Retirement System has committed $30 million to HarbourVest Dover Street Fund IX, as per NEPC's recommendation.

 

1 December

Contra Costa County Employees' Retirement Association has committed $50 million to Ocean Avenue Fund III.

Los Angeles City Employees' Retirement System has committed to two buyout funds: $25 million to Bain Capital Asia Fund III and $20 million to Harvest Partners VII.

 

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