Barclays’ private client business has lured HSBC Private Bank’s global head of private equity as it seeks to grow its alternatives programme.
The $4.3bn pension will allocate more of its capital for private equity to co-investment opportunities. In the last nine months, SDCERS has committed to Avista, Alchemy, Macquarie and Veritas.
The $11.4bn pension, which committed $100m to Energy Capital Partners II in July, set aside $245m for private equity in fiscal 2011, and $350m for debt-related vehicles.
The firm, which anticipates closing Fund VI on $13.5bn, agreed to an 80/20 transaction fee split for Oregon with a slight increase in management fees - a deal it's offering all the fund's LPs.
PCG Asset Management will help the $34bn pension rebalance its portfolio, selling older investments and ramping up exposure to international, secondaries and co-investments.
The Oregon Investment Council has started a new private equity relationship with Blackstone as it contemplates cutting its next commitment to KKR.
The $14bn oil and gas endowment has hired Day Pitney to pursue fee and investment loss recovery from private equity firms to which SIC committed capital based on reasons ‘other than great returns’.
Providence plans to raise $1bn in credit-focused commitments, having gone to market just one year after closing its debut debt fund on more than $1bn.
Frustration with fees has some family offices moving toward direct investing, says John Rompon, managing partner at McNally Capital.
The Euronext-listed fund of funds received $129m in distributions in the second quarter as the firm continues its ‘realisation strategy’ of tending to capital calls and not making new commitments.