CalSTRS committed to Wes Edens-led Fortress’ second Credit Opportunities fund, which is targeting $2bn.
The $134bn pension’s private equity portfolio has been weighed down in part by being ‘overweight’ to buyouts.
Long-standing fixture of the European private equity landscape Candover has decided to continue life only as a realisation vehicle, returning money to shareholders as investments are sold.
KKR, which wants to start raising a new private equity fund in the ‘next few quarters’, has formed a team to specifically attract high net worth individuals onto the LP roster.
The listed firm, which has reported strong portfolio company growth in its iterim results, looks likely to sell some ‘early secondary’ fund interests to boost liquidity.
The $33.7bn pension expects to ‘remain an active investor in private equity’ and will be able to meet capital calls.
The Washington State Investment Board’s private equity team will seek to replace Brian Roberts, who is leaving the pension fund next week.
The pre-2008 trips - arranged by private equity and real estate GPs - related only to firms in which the US pension owned a management stake or on whose LP advisory boards it sat.
The apparent public outrage over CalPERS staff travel makes one wonder: do California pensioners want their global assets managed by under-resourced homebodies? David Snow explores.
The $20bn US pension is also considering carving out a new allocation for debt investments.