Richard Valdes received $38,600 in campaign donations in 2005; much of them tied to placement agent Alfred Villalobos, who since 2006 has secured more than $4bn in CalPERS commitments.
A group of LPs has asked Sun Capital for the ability to shrink commitments to its $6bn fifth fund because of ‘liquidity issues’ and asset allocation imbalances.
ASSET CLASS: THE DASHBOARD 2009-09-01 Staff Writer 44%<br> <bold>Proportion of global private equity assets accounted for by buyout funds in 2008</bold><br> <br> <italic>Source: McKinsey & Company</italic><br> <br> 30%<br> <bold>Prop
The secondaries specialist is working with several institutions on preferred annex fund-type structures that help LPs to meet capital calls and make fresh commitments.
The $7.6bn pension has terminated $150m in recommended commitments from its former private equity advisor Aldus Equity.
The $18.4bn pension will reduce its private equity exposure by $400m compared to fiscal 2009.
Patricia Gerrick has resigned after driving the state pension exposure to real estate and private equity to 5%, respectively.
Two energy funds and two mega-funds have secured commitments from the $16bn pension.
As it continues to mull its future business model, the London-listed private equity investor sees the departure of long-time managing director Colin Buffin and finance director Tian Tan.
LPs would like to see 100% of the transaction fee be used to offset the management fee, but GPs say the money is needed to run their firms.