Bridges Ventures has corralled £72m in commitments for the first close on its latest SME-focused fund, nearly eclipsing the total fundraising efforts of its last fund raised pre-crisis.
The $66bn pension projects saving $120m in fees over the life of the partnership, in which the system will allocate capital to traditional Blackstone funds and customised accounts with ‘1% and 15%’ term structures.
The New Jersey Division of Investments has sold stakes in GTCR, TPG and Madison Dearborn V-A, which sold at a discount.
Life sciences-focused venture firm EMBL Ventures has held a first close for its second fund on €40m, despite institutional investors’ recent apathy towards venture in general.
The $12.3bn retirement system has re-upped $50m to Platinum Equity’s third fund, which is targeting $3.75bn.
The bankrupt parent company of American Airlines had $389m-worth of unfunded exposure to private equity funds as of 31 December. It’s not clear if the company will continue to meet capital calls through bankruptcy proceedings.
The $83bn retirement system committed to five funds in the third quarter, including up to $100m each for Leonard Green & Partners, Providence Equity Partners and Vista Equity Partners.
Private equity firm the China-ASEAN Investment Fund will next year raise a fund up to three times the size of its current $1bn fund dedicated to Southeast Asia, as LPs look to increase their exposure to the region.
Some of ILPA’s new directors include Brad Woolworth, head of private markets and real assets for the Philadelphia Board of Pensions and Retirement and Richard Hall, senior director of private markets at the Teachers Retirement System of Texas.
The $26bn retirement system also made a pair of commitments, totaling around $80m, to Leonard Green’s sixth fund and BC Partners’ ninth European capital fund.