LP Radar – May 2016

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

31 May

ATP Private Equity Partners committed to Shamrock Capital Growth Fund IV in February.

 

30 May

The Australian National University expressed that it does not plan to invest in private equity in the next 12 months.


27 May

Bureau of Labour Funds has made its debut private equity investment and expressed interest in raising the allocation to alternative investments in overseas markets from 4.6 percent to 8 percent.

School Employees' Retirement System of Ohio’s committee has approved a €30 million commitment to The Sixth Cinven Fund, a buyout vehicle focusing on European opportunities.

 

26 May

New Jersey Division of Investment has approved a commitment of $500 million to BlackRock SONJ Private Opportunities II – Separate Account (Third Tranche).

 

25 May

Labour Union Co-operative Retirement Fund does not have specific target sectors and it prefers its investments to be managed by fund managers with good track record and knowledge of tax and regulations in Australian investment market.

Finnish Industry Investment has committed €10 million to Nordic-focused Nest Capital Private Debt Fund.

 

24 May

Maryland State Retirement and Pension System’s board has approved the investment committee's recommended tweak to its asset allocation. The private equity target has been increased by one percent.

 

23 May 

Taiyo Life Insurance Company expressed that 0.2 percent of asset is allocated to private equity and it is not interested in real estate, infrastructure and private debt. Currently, it targets fund-of-funds and secondaries funds in North America, Europe and Asia Pacific region.

Illinois Municipal Retirement Fund has approved commitments of £17 million to Inflexion Supplemental Fund IV, £15 million to Inflexion Enterprise Fund IV and $7.5 million to ABRY Heritage Fund.


20 May

Ventura County Employees Retirement Association has committed $15 million to Drive Capital Fund II, $60 million to each HarbourVest Partners' Dover Street IX and Adams Street Partners' 2016 Global Fund.

Liberty Mutual Group has established Liberty Mutual Strategic Ventures to invest in early-stage companies which provide technology and business services for insurance industry. The Group injected $150 million for initial funding.

Louisiana State Employees Retirement System has selected four finalists in its distressed/special situations private equity search: Cerberus, Gamut, Oak Hill, and Siguler Guff.

 

19 May

Employees' Retirement System of the State of Hawaii has made $51.5 million commitment to Charterhouse Capital Partners X, $50 million to Green Equity Investors VII, $35 million to TPG Partners VII, $36 million to Advent Global Private Equity VIII and $35 million to Thoma Bravo Fund XII.

Ohio Police & Fire Pension Fund’s Board has approved a recommendation from staff and its private markets consultant to commit $40 million to Montauk TriGuard Fund VII.

Canada Pension Plan Investment Board has appointed March Machin as the President and Chief Executive Officer. He is currently a Senior Managing Director & Head of International.

 

18 May

Alternative Investment Capital expressed that it is focusing on buyout and fund-of-funds investments but it will consider venture capital investments in the near future. As for target regions, it has interest in Japanese market and it still looks for global opportunities. 

ATP Private Equity Partners committed to Sequoia Capital China Venture Fund VI and Sequoia Capital China Growth Fund IV last month.

BlackRock has appointed Justin Ferrier as the managing director for its Asia private credit platform, with a focus on mid-market and special situations, effective June 13.

 

17 May

International Finance Corporation proposed a $7.5 million commitment to Cambodia-Laos-Myanmar Development Fund II, managed by Emerging Markets Investment Advisers. The investment will be capped at 20 percent of the total commitment in the Fund.

The British Business Bank's commercial arm has committed €9 million to Frog Capital II. The €90 million vehicle will focus on European growth investments.

 

16 May 

AustSafe Super expressed that it does not have interest in private equity investments now. Instead, it will keep investing in real estate and infrastructure funds.


13 May

Khazanah Nasional is launching a new office in London in mid-May, representing its fifth foreign office after Beijing, Mumbai, San Francisco and Istanbul. It appoints Javier Santiso to head the new office.

Chicago Teachers' Pension Fund has approved its latest asset allocation plan, increasing its focus on private equity from three percent to five percent. The institution is currently running a RFP for direct private equity, for which the finalist will be determined soon.

 

12 May

At the April 28, 2016 meeting, the board of trustees of Houston Municipal Employees' Pension System approved a $15 million investment each in Vista Equity Partners Fund VI and Vista Foundation Fund III.

 

11 May

Islamic Development Bank expressed that it welcomes all ranges of investment sectors and regions so long as it shows attractive potential return. It is also interested in co-investment in the future.

Teacher Retirement System of Texas has committed €341.87 million to Sixth Cinven Fund Limited Partnership. The transaction was finalized on 16 April.

 

9 May

Japan Bank for International Cooperation has partnered with Mizuho Bank to invest in KKR's Americas Fund XII. The commitment aims to enhance the Japanese companies' oversea business support services and business deployment.


6 May

Employees' Retirement System of Texas has committed $200 million to Crown Global Secondaries Fund IV and $100 million to Crown Secondaries Special Opportunities Fund.

 

5 May

Pennsylvania State Employees’ Retirement System has appointed Bryan Lewis as its new Chief Investment Officer. 

Jade Invest told PEI that they are only interested in private equity investments in China. Looking forward, it plans to commit $100 to $200 million to ten funds with diversified strategies.

  

 4 May

Employees Provident Fund of Malaysia currently allocates two percent of asset to private equity and four percent to alternative investments, including real estate and infrastructure. Looking forward, it aims to achieve eight to ten percent on alternative.

AP Fonden 6 has committed €25 million to Creandum IV, having invested in the three previous funds within this series.

City of Philadelphia Board of Pensions & Investment has approved a $50 million commitment to Capital Dynamics Mid-Market Direct V: $25 million into the main fund and the remaining into a side-car, parallel fund.

New York State Common Retirement Fund is looking for a Director of Fixed Income, a Real Assets Investment Officer, a Senior Real Assets Investment Officer and a Chief Risk Officer.

 

3 May

New York State Common Retirement Fund has committed $600 million to Americas Fund XII, $500 million to Vista Equity Partners VI, $240 million to Warburg Pincus Capital Partners XII, $200 million to Vista Credit Opportunities Fund II and $50 million to FIMI Opportunity 6.

 

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