Three months after announcing its first ever private equity commitments, the $27bn pension is mulling a move into secondaries to diversify its vintage year exposure.
Treating placement agents as lobbyists under California law would impose the proper limitations on the practice, CalPERS’ president Rob Feckner wrote in a letter to the pension’s board.
Adam Barron and Edmund Lazarus will run the new fund under the name of Bregal Capital, as former chief Dominic Shorthouse spins out, taking along the Englefield name.
The $12.5bn pension has been expanding its investment portfolio into European-focused funds.
Asia, the Middle East and Europe are set to increase their alternative asset appetites, according to Blackstone CEO Stephen Schwarzman.
The $55m Mexico-listed fund raised by WAMEX – which will compliment a traditional fund, targeting $65m – is the first in a wave of expected offerings allowing domestic pensions to invest in the asset class.
The pension, with about $13bn in assets, has invested $40m in mezzanine funds managed by Merit and Peninsula. The pension came under its spending goal for private equity in fiscal ‘09.
The pension’s $200m commitment to Hellman & Friedman, is evidence that it plans to continue to back private equity funds despite an ongoing pay-to-play investigation.
A key-man clause on the firm's $692m Fund II was triggered when the head of AIG Investments’ Brazil team left. The unit has decided to terminate the investment period.
Limited partners who discourage GPs from making investments should be sued, the founder of Siguler Guff told delegates at this week’s The Emerging Markets Private Equity Forum in London.