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LP Radar – June 2015

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

26 June

National Council for Social Security Fund of China revealed that it still has a target allocation of 20 to 30 percent to domestic only private equity. 

Teachers' Retirement System of the State of Illinois committed $150 million to Union Grove Venture Partners and approved the issuance of an RFP seeking consulting services for potential co-investment opportunities.

 

 25 June 

School Employees' Retirement System of Ohio is maintaining its 10% target allocation for FY 2015, with a continued focus to buyout funds. They will also explore opportunities in secondary funds, distressed debt funds, emerging markets and particularly co-investment vehicles.

North Carolina State Treasury announced a $200 million commitment to the Small and Emerging Managers Program from the pension fund’s private equity portfolio.

 

24 June 

Los Angeles Fire & Police Pension System has made a $10 million commitment to Gridiron Capital Fund III.

 

23 June 

Hanwha Life Insurance revealed that it currently allocates ten percent to alternative assets and less than one percent to private equity. It will continue to look for buyout funds in developed markets and may consider mezzanine and turnaround funds in the future.

 

22 June 

Virginia Retirement System has committed up to $250 million to the Western Europe-focused buyout vehicle, Charterhouse Capital Partners X.

 

19 June 

Pennsylvania Public School Employees’ Retirement System has committed up to $100 million to Summit Partners Growth Equity Fund IX and up to $50 million to Summit Partners Venture Capital Fund IV.

South Carolina Retirement System has committed up to $150 million to Pacific Equity Partners Fund V directly and for related co-investments. 

 

18 June   

Arizona Public Safety Personnel Retirement System has committed up to $150 million into the private equity space over the past month. Of this, $90 million was committed to StepStone AZ China and Asia Opportunities Fund with the remaining $60 million earmarked for Sterling Group Partners IV, of which $20 million was for a co-investment vehicle. 

Louisiana Municipal Employees' Retirement System has committed $15 million to Coller International Partners VII. This forms part of the $30 million private equities program allocation for 2015.

 

17 June 

Stichting Unilever Pensioenfonds is considering an impact/high level ESG investment over the next year. Not only does the institution emphasise this with regards to general returns, but also in order to create impact with such investments.

 

16 June 

AP Fonden 3 will continue to focus their investments on Western Europe and the US over the next 12 months with a possibility of occassional investments in Asia.

 

11 June  

University of Oklahoma Foundation has named Brad Johnson chief investment officer. Johnson will replace Ben Stewart and start mid-July.

 

10 June 

Taiwan's National Development Fund and the Ministry of Science and Technology have committed $60 million each to NDP's Taiwan Silicon Valley Technology Fund.

The South Carolina Retirement System has made a $125 million commitment to Brookfield Capital Partners IV. The commitment was approved yesterday at the pension’s investment committee meeting.  

 

9 June  

Teacher Retirement System of Texas has committed $450 million to Blackstone Capital Partners VII and $200 million each to Oaktree Principal Fund VI and OCM Avalon Co-Investment Fund. 

 

8 June  

Minnesota State Board of Investment has approved commitments of up to $150 million each to Blackstone Capital Partners VII and CVI Credit Value Fund III.

 

4 June 

The Montana Board of Investments has announced that Clifford A. Sheets will retire from his position as Chief Investment Officer in October.

 

2 June 

Arizona Public Safety Personnel Retirement System has committed $60 million to Cortec Group's Fund VI.

The Maryland State Retirement and Pension System appointed Andrew C. Palmer as its new Chief Investment Officer. He was previously the Deputy CIO of the Tennessee Consolidated Retirement System.

 

1 June  

District of Columbia Retirement Board has committed $30 million each to TA Associates fund XII and AnaCap Opportunities Fund III. 

Mike Burns, Chief Executive Officer of the Alaska Permanent Fund, is set to retire from his position effective 1 June. Valerie Mertz, current Chief Financial Officer, has been appointed as acting executive director for 30 days while the Board considers appointing an interim executive director. 

 

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