Investors are waiting longer for distributions from the managers they back, according to research by placement agent Triago, as general partners delay exits until markets improve.
The $11.7bn retirement system used almost a third of its annual private equity allocation on commitments to Riverside Partners, Court Square Partners and TPG Credit.
The California State Teachers’ Retirement System bet heavily on Asia, bringing its total allocation to the asset class to nearly $2bn for 2011.
The $1bn university endowment has been reaping access to top-tier managers since the financial crisis, led by private markets head Sam Masoudi.
Firms have been filing registration documents since last year to meet the 30 March deadline. And for some firms, the documents include some ‘embarrassing’ disciplinary history.
Williams College, which has a $1.8bn endowment, is searching for a new head of ‘non-marketable securities’ following the departure of Tim Joeng, who led buyouts, venture and real estate at the college for five years.
At its April meeting, the $50bn system made a $150m commitment to Wayzata Investment Partners' third fund, which is targeting small and mid-market investments in distressed debt and special situations.
The $25bn pension system has hired Terrence Purcell on an interim basis to replace former private equity head Adrian Kingshott, who left the system in February after only a year on the job.
Following a $20m commitment from the Nebraska Investment Council, the technology-focused fund, targeting $700m, will likely close before May.
Denham Capital has surpassed its $2.5bn target for its latest fund, raising $3bn in just eight months for its sixth energy-focused vehicle.