LP Radar – July 2015

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

31 July

District of Columbia Retirement Board committed $30 million each to Accel-KKR Capital Partners V and Summit Partners Growth Equity Fund IX last week.

Florida State Board of Administration invested over $1 billion into private equity and strategic investments last quarter, including a $180 million commitment to Blackstone Capital Partners VIII and $200 million to Oaktree Opportunities Fund Xb.

 

30 July

Florida State Board of Administration is looking to employ a Portfolio Manager for its Strategic Investment and Private Equity department. The candidate would be responsible for sourcing, conducting due dilligence and monitoring managers and funds for the alternative investments program.

 

29 July

New Mexico State Investment Council plans to invest $750 million into private equity by the end of the 2015 fiscal year in accordance with its 10% interim target for the asset class. Following this period, commitments of between $550 million and $650 million annually will help to reach the 12% target allocation.

 

28 July

According to recent news from Argentum Asset Management, the institution made five new investments into the primary market, 14 secondary investments and one co-investment during 2014.

 

27 July

European Investment Fund and British Business Bank have committed to Notion Capital III, which held a first close last week on $120 million.

 

24 July

Earlier this week, New Jersey Division of Investments committed $200 million to American Industrial Partners VI, $50 million to Excellere Fund III and $300 million to GoldenTree Distressed Separate Account.

 

23 July

At a meeting yesterday, Pennsylvania State Employees' Retirement System approved new investments of $215 million: ADV Opportunities Fund I, Clearlake Capital Partners IV, H.I.G. Brazil and Latin America Fund, Lightspeed India Partners and Sterling Group Partners IV.

School Employees' Retirement System of Ohio has committed €50 million to BlueBay Direct Lending Fund II and €30 million to Babson Capital Global Special Situations Credit 2.

 

22 July

According to the 2015 Investment Plan, MassPRIM has to commit $713 million to Private Equity and $325 million to Alternative Fixed Income by the end of the year. The most recent investments made in H1 include Charterhouse Capital Partners X and Quantum Parallel Partners VI for private equity and CVI Credit Value Fund III for fixed income.

Public School and Education Employee Retirement Systems of Missouri has selected Anita Brand to be the firm's new Chief Financial Officer. She has been promoted from the position of Director of Investment Accounting and Financial Reporting.

 

21 July

Last week, University of Michigan committed $50 million to Visium Healthcare Partners, $25 million to Silversmith Capital Partners I and €35 million to RiverRock European Opportunity Fund II.

 

20 July

Since the beginning of the year, Finnish Industry Investment has committed €5 million to Life Sciences Partners V and €10 million to EQT VII.

 

17 July

LACERA's Board approved a $100 million commitment to Excellere Fund III. The investment brings the total value of the firm's private equity portfolio for 2015 to $872 million.

 

16 July

Oklahoma Police Pension and Retirement System has committed $7.5 million to CenterOak Partners I, a lower middle-market buyout fund.

 

15 July

According to the recently released meeting minutes, the South Dakota Investment Council committed $100 million to Blackstone Capital Partners VII through its Retirement System subsidiary and a further undisclosed amount via other trust funds it manages.

 

10 July

Asahi Mutual Life Insurance Company revealed that it still has no plans to invest in private equity in the near future due to liquidity reasons.

9 July

Texas County and District Retirement System has committed $30 million to Axxon Brazil Private Equity III.

 

8 July

Korea Investment Corporation wants to increase its allocation to alternative assets from eight percent to 15 percent by the end of 2015 and eventually to 20 percent within the next five years.

 

7 July

The Ohio Police & Fire Pension Fund has committed up to $40 million to RRJ Capital Master Fund III.

 

 6 July  

El Paso City Employees’ Pension Fund has committed $25 million to Portfolio Advisors Private Equity Fund VIII.

 

3 July

City of Ann Arbor Employees' Retirement System has committed $21 million to Ironsides Partnership Fund III and Ironsides Co-Investment Fund III, in a 50/50 split.


2 July

New Mexico State Investment Council has committed $75 million each to Coller International Partners VII and EQT VII. The institution has also approved an increase for its PE target allocation from 10% to 12%.

Hartford Healthcare Corporation committed $13 million to Avalon Ventures XI last week and is considering an investment in a special situations vehicle by mid-July.


1 July

Oklahoma State Regents for Higher Education has committed a total of $16 million to three funds: Genstar Capital Partner VII, OrbiMed Private Investments VI and Avalon Ventures XI.

 

To view last month's LP Radar, click here