LP Radar – February 2016

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

26 February

The Ohio Police & Fire Pension Fund's board has approved a recommendation to commit $50 million to Vista Foundation Fund III, the first investment toward the 2016 Private Markets Investment Plan.

 

25 February 

Canada Pension Plan Investment Board has acquired a portfolio of private equity stakes worth around $1 billion from Australia’s Future Fund.

The San Antonio Fire and Police Pension Fund has committed $15 million to Hayfin Direct Lending Fund II.

 

24 February

California Public Employees' Retirement System is searching for a new chief executive officer to lead and manage the pension fund, health benefit programs and its 2,700 employees. 

22 February

Teachers' Retirement Systemof the State of Illinois has committed $250 million to Vista Equity Partners of San Francisco, California and $100 million to Parthenon Capital Partners of Boston, Massachusetts in their February meeting.

 

19 February 

The new CEO of Korean Investment Corporation announced to push the allocation to alternative investments from 12.4 percent to 20 percent by 2020. 

 

18 February

The Alaska Permanent Fund's private equity portfolio produced a positive return of 0.7% for Q4 2015 and 6.2% for the fiscal year-to-date.

 

17 February 

The Ontario Teachers' Pension Fund promoted Bogdan Cenanovic as vice president of direct investment in technology sector and Michael Murrayas vice president of direct investment in finance sector.

Maine Public Employees Retirement System's board approved a $60 million commitment to Berkshire Fund IX and $50 million to AMERRA Agri Fund III during the February meeting.


16 February 

The National Pension Service of Korea has appointed Kang Myoun Wook its new chief investment officer.

Iowa Public Employees' Retirement System has issued a request for proposal for an investment focused legal and/or general legal counsel services partner. Proposals are due by March 16.

 

15 February 

Police Mutual Aid Association decided to form the first blind fund to collect between KRW40 billion KRW100 billion. The Association will look for an asset manager for the fund before the first half of 2016.


12 February

Effective on July 1, 2016, South Carolina Retirement System's sub asset-class target weightings will be 'global equity', changed from 34% to 27%, and 'private equity', which will remain at 9%.

 

11 February 

California Public Employees' Retirement System has approved $250 million to Carlyle's second US Equity Opportunity Fund and Towerbrook Capital's Structured Opportunities Fund.


10 February

New York State Teachers' Retirement System has committed $200 million to Thoma Bravo Fund XII and €200 million to the Sixth Cinven Fund. The firm also authorized the Executive Director and Chief Investment Officer to renew the agreement with TorreyCove Capital Partners as the system's private equity consultant.

 

9 February

Washington State Investment Board's private markets committee has recommended the approval of three private equity commitments: $350 million to Green Equity Investors VII, 225 million to Charterhouse Capital Partners X and $200 million to TCV IX.

Houston Firefighters' Relief and Retirement Fund is going to review and negotiate its private equity and real estate limited partnership legal documentation at its board meeting on Thursday as part of the Chief Legal Officer's monthly report.

 

8 February

At its January 19-20 meeting, the Ohio Police & Fire Pension Fund announced a commitment of $50 million to Vista Equity Partners VI as well as receiving a private markets review.

Connecticut Retirement Plans and Trust Fund is looking to hire a Principal Investment Officer, following the departure of Terrence Purcell who took a position at Permal.

 

5 February

Gary Dokes, the current CIO of the Arizona State Retirement System, is leaving the System at the end of February 2016 and will join Arizona Community Foundation.

The investment commission of Rhode Island State Treasury agreed to commit $10 million to Industry Ventures Partnership Holdings Fund IV at its monthly meeting held last week.

The Massachusetts Pension Reserves Investment Management Board approved a capital commitment of $175 million to Berkshire Fund IX and of $100 million to Thoma Bravo Fund XII earlier this week.


4 February

The vice president of Japan Post Bank, Katsunori Sago, revealed that the Bank will start pursuing private equity investments by the first half of 2016.

 

3 February 

University of Michigan approved $40 million to Abax Asian Structured Credit Fund II in December 2015.

 

Jeff Cleveland has been appointed managing director of D.A. Davidson and Co. in Seattle office.


2 February  

APG has appointed Gerald Van Olphen as the new chief executive officer. 



1 February  

The Pennsylvania State Employees’ Retirement System has made $100 million each to Advent International GPE VIII and ASF VII. It also allocated $50 million to ASF VII PA Co-Investment Fund.

The Fire and Police Pension Association of Colorado has committed to two private equity funds – $15 million to Nautic Partners VIII and £14 million to Mayfair Equity Partners Fund I – and 15 million to a private debt fund, RiverRock European Opportunities Fund II.