Stanford University's endowment, led by CEO John Powers, was one of many investors who held out for higher valuations on the secondaries market this year.
In-house investment professionals don't start earning money until they perform up to 'at least' comparable public markets, said Leo de Bever, CEO of AIMCo.
The Sub-Saharan Africa-focused fund has attracted commitments from CDC and IFC. It will invest around 50% of its capital in infrastructure-related projects.
The pension made a host of private equity and real estate commitments in the fourth quarter, and plans on staying active in 2010, said Mansco Perry, Maryland's CIO.
French private equity firm IDI Group is in exclusive talks to buy AGF, currently raising a €400m vehicle. If it succeeds, it will more than triple its assets under management.
Industry participants are raising red flags over the pension giant's decision to sponsor legislation that would require placement agents to register as lobbyists and ban success fees.
Bids that came in for the private equity stakes were not ‘on par with the value of the assets’, the endowment’s CEO John Powers told PEO in an interview.
Joseph Dear, CalPERS chief investment officer, said private equity investments will ‘fuel our portfolio in future years’.
The commitment comes as the $200bn pension is reviewing its private equity programme, including analysing fees paid by its fund managers to placement agents.
Wesley Edens, the firm’s co-chairman, said Fortress portfolio company Nationstar, a mortgage servicer, was a candidate for a possible IPO.