LP Radar – September 2016

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

30 September

New Jersey Division of Investment committed $150 million to Benefit Street Partners Special Situations Fund and $100 million to Warburg Pincus Private Equity China Fund on Wednesday.

University of Vermont’s investment subcommittee has approved a $5 million commitment to Denham Oil and Gas Fund, an energy infrastructure fund.

 

29 September

Los Angeles City Employees' Retirement System has approved the issuing of a private equity consultant request for proposal. Chief Investment Officer, Rodney June, and Chief Operating Officer, Bryan Fujita, presented the recommendation at the August meeting.

Ohio Police & Fire Pension Fund’s board has approved staff and TorreyCove’s recommendation to commit $35 million to Trident VII.

 

28 September

New Mexico Educational Retirement Board  has committed $50 million to Riverside Strategic Capital Fund I.

North Carolina State Treasury has committed $50 million to Blackstone Strategic Partners VII. The transaction was finalised in July 2016 and is categorized as an ‘inflation sensitive’ investment.

 

26 September 

Canada Pension Plan Investment Board (CPPIB) has signed a Memorandum of Understanding with National Development and Reform Commission of China to offer expertise to address the ageing population problems in China. CPPIB expressed that it values the benefits of information sharing with the policy-maker in growth markets. 


23 September

School Employees' Retirement System of Ohio has made a $40 million commitment each to Kohlberg Investors VIII and Swander Pace Capital VI.

 

22 September

South Carolina Retirement System appointed Geoffrey Berg as its Chief Investment Officer.  

 

21 September

Kentucky Retirement Systems’ board has committed a total of $100 million to Kayne Anderson Energy Fund VII on behalf of its pension and insurance funds.

 

20 September

International Finance Corporation (IFC) has approved $25 million to Maison Capital Management's Maison China III, a growth fund that targets consumer technology, services and lifestyle-oriented businesses in China.


19 September

Bei Capital's investment remit may be expanded to include private equity and real estate in the near future. Interest in growth and buyout opportunities remains high at the firm, with a specific focus on Asia Pacific-based healthcare, tourism and media companies.


16 September

Michigan Department of Treasury committed $200 million to KKR Americas Fund XII; $150 million each to Apax IX, Crescent Mezzanine Partners VII, GSO Capital Opportunities Fund III, Thoma Bravo Fund XII and Kayne Private Energy Income Fund; $100 million to HarbourVest Partners Co-Investment Fund IV; $50 million to Flagship Ventures Opportunities Fund I; $35 million each to FirstMark Capital IV and FirstMark Capital OF II, $19 million to Vista Foundation Fund III and $13 million to Accel London V.

 

15 September

California Public Employees' Retirement System has committed $500 million to Cerberus CP Partners II and €440 million to Permira VI. Both funds began drawing down capital in July.

 

14 September

The California State Teachers’ Retirement System committed $300 million each to Ares Corporate Opportunities Fund V and Apax IX,  $250 million to Thoma Bravo Fund XII, $150 million to Advent Global Private Equity VIII, $75 million to Tenex Capital Partners II, $50 million to ACON Equity Partners IV and $45 million to GGV Capital VI.

 

13 September 

Canada Pension Plan Investment Board (CPPIB) appointed Ryan Selwood Managing Director & Head of Direct Private Equity. He will oversee co-sponsorships and direct private equity transactions.


12 September

National Pensions Service of Korea (NPS), Korea Development Bank and  Korea Teachers Credit Union (KTCU) have invested in Lindeman Asia Investment Corporation's China-focused PE fund, Lindeman Asia Global Pioneer.


9 September

State of Wisconsin Investment Board is soliciting proposals from qualified service providers to support its private equity investment and record keeping activities. 

Minnesota State Board of Investment has committed €150 million to Permira VI, $150 million to Prudential Capital Partners V, $100 million to Thoma Bravo Fund XII and $50 million to Warburg Pincus Private Equity China Fund. 

 

8 September

The Teacher Retirement System of Texas committed $200 million to Kohlberg Investors VIII, managed by Kohlberg & Company, last month.

 

7 September

Strathclyde Pension Fund has agreed new commitments to its private equity programme: an £85 million commitment to Partners Group Global Relative Value in 2016 and a further £145 million in 2017, as well as £50 million to Partners Group Direct Private Equity.

 

5 September

QIC told PEI that it currently holds 50 active PE funds and might invest in ten more funds in the coming 12 months. It is now allocating 60 percent to buyout, 30 percent to venture capital and the rest to others, such as co-investments. 

Argentum Asset Management and partners have invested €20 million in Northzone VIII, a fund which was oversubscribed at a target of €300 million. The transaction was finalised today.


2 September

South Australian Government Financing Authority(SAFA) told PEI that it does not intend to invest in any external PE funds but it is planning to launch an in-house VC fund by the end of 2016. 

New Mexico EducationalRetirement Board has committed $50 million to Z Capital Credit Tactical Fund. This is its second investment with the manager.


1 September 

New York State Common Retirement Fund has committed $200 million to Snow Phipps Fund III, $20 million to RLJ Equity Partners II, $15 million to Farallon Asia Special Situations III and $9.9 million to Boyu Capital Fund III. 

Contra Costa County Employees' Retirement Association(CCCERA) is searching for a private markets advisor to work with internal staff in managing CCCERA’s existing private asset program.

 

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