LP Radar – March 2016

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

31 March

Ohio Police & Fire Pension Fund's Board approved a commitment of up to 31.2 million to Cinven's Sixth Fund, on the advice from OP&F staff and private markets consultant TorreyCove.

 

30 March 

Cornell University's chief investment officer, Albert Edwards, is departing at the end of March. Cody Danks Burke and Roger Vincent will act as co-CIOs until the replacement is announced in mid April. 

Brandon Halm, director of alternative investments in Pennsylvania State Employees' Retirement System is leaving to join AEGON USA Investment Management.

 

29 March

New Jersey Division of Investment has committed $200 million to Vista Equity Partners Fund VI, $200 million to a related co-investment separate account, and $100 million to Vista Foundation Fund III.

 

24 March

New Mexico State Investment Council approved a commitment of $75 million to Lightyear IV earlier this week.

 

23 March

Michigan Department of Treasury has committed $175 million to Warburg Pincus Private Equity XII, $125 million to TSG7, $100 million to Dover Street IX, $75 million to Harvest Partners VII and $50 million each to Axiom Asia IV, FIMI Opportunity Fund VI, Riverside Partners Micro-Cap Fund IV and Shamrock Capital Growth Fund IV.

ATP Private Equity Partners has committed to Advent GPE VIII.

Los Angeles County Employees' Retirement Association has issued a request for proposals from private equity consultants.

 

22 March

Texas County and District Retirement System has committed $65 million to Vista Equity Partners Fund VI.

 

21 March 

New Zealand Venture Investment Fund committed NZD20 million to Movac's fourth venture capital fund.

At the 18 March 2016 meeting of the NHRS Independent Investment Committee, a commitment of $50 million to Thoma Bravo Fund XII was approved.


18 March

University of Michigan has committed $50 million to Berkshire Fund IX, $30 million to Kayne Anderson Energy Fund VII, $25 million to BioPharma Credit Investments IV and a further $37 million split among Sequoia Capital U.S. Growth Fund VII, Sequoia Capital Global Growth II and Sequoia Capital India V.

Pennsylvania Public School Employees' Retirement System has committed $250 million to Strategic Partners Fund VII, $200 million to Hayfin SOF II, 100 million to Sixth Cinven Fund and $100 million to L Catterton VIII.

 

16 March

Allegheny County Retirement System has committed $3 million to Ironsides Partnership Fund IV and $2 million to Greenspring Secondaries Fund II, as stated in recent board meeting minutes.

 

15 March    

Canada Pension Plan Investment Board has signed agreement with Kotak Mahindra Group to invest $525 million in stressed assets in India so as to strengthen the direct credit investment capabilities in India. 


14 March   

Maine Public Employees' Retirement System has earmarked $60 million to Thoma Bravo's twelfth private equity fund.


11 March  

Mizuho Securities  has appointed Jerry Rizzieri president and CEO in USA, succeeding John Koudounis.

 

10 March 

California Public Employees' Retirement System is preparing to sell its private equity stake worth approximately $1 billion from its portfolio.

Teacher Retirement System of Texas committed $300 million to Green Equity Investors VII, managed by Leonard Green & Partners. The transaction was finalized on February 29.

 

9 March  

New Mexico State Investment Council has approved $100 million commitment to Vista Equity Partners IV.

Pennsylvania Public School Employees' Retirement System is scheduled to discuss investments in Strategic Partners Fund VII, Hayfin SOF II, The Sixth Cinven Fund and Catterton VIII at a meeting tomorrow.


8 March 

University of Texas Investment Management Co. aims to raise the allocation to private equity and real estate investments from approximately 35 percent to 40 percent.


7 March

The pace of commitments made to the private equity markets by Fresno County Employees Retirement Association will need to be escalated in order to preserve the institution's current exposure and to reach the required target allocation.

 

4 March

The Hollywood Employees Retirement Fund has made its first ever investments in the private equity market, committing $20 million to NB Crossroads Fund XXI and $10 million to Dover Street IX.

 

3 March

New Mexico Educational Retirement Board has committed $50 million to Tenex Capital Fund II and $40 million to Ares Corporate Opportunities Fund V.

The Rhode Island State Treasury's Investment Commission has approved a commitment of between $20 million and $30 million to Advent International Global Private Equity Fund VIII.

 

2 March

The Texas Municipal Retirement System's board has approved a private equity commitment of $75 million to GSO Capital Opportunities Fund III.

 

1 March 

Illinois Municipal Retirement Fund has committed $100 million to Vista Equity Partners Fund VI, $50 million to Vista Credit Opportunities Fund II and $25 million to Vista Foundation Fund III.

Arizona State Retirement System has appointed Karl Polen as its new Chief Investment Officer. He is currently Head of Private Markets in the Investment Division.

 

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