The $27bn pension committed $50m to Blackstone’s sixth buyout fund in October, but decided to add another $100m after raising its allocation to private equity to 10% in May.
The West coast debt shop has garnered $420m in commitments from LPs for its latest vehicle, the Mesa West Real Estate Income Fund II. It will continue fundraising until the end of the year, PERE has learnt.
One of the largest private equity real estate platforms in the world will become independent of its bankrupt parent company, sister news site PERE has learned.
Investors in private equity funds believe one-quarter of private equity managers will fail because of the financial meltdown, and one out of every 10 investors in private equity will default on capital calls, according to recent surveys.
The $183bn public pension said the move is designed to bring flexibility and higher liquidity to the portfolio.
Selling Wood Mackenzie for £550m would allow the listed firm to pay down around £30m of debt, but Candover would still not be ‘out of the woods’.
Goldman, Credit Suisse, UBS and Merrill Lynch are reportedly among the firms from which the US financial regulatory agency has requested information about work done in exchange for fees.
Investment staff will recommend the US pension giant increase its target allocation to private equity to 14%. It currently has 11.7% of its assets, or $21bn, invested in the asset class.
Against the tumultuous economic backdrop, last year investors targeted Europe’s more mature markets at the expense of Central and Eastern Europe.
The $22bn state workers' pension fund lost 16.5% on its private equity portfolio in the fourth quarter of 2008, along with fourth quarter drops of 13.1% in venture capital and 14.8% in real estate.