The $153bn pension allocated $200m to Bank of America for investments with emerging managers, and $350m to minority-owned Parish Capital as part of its emerging private equity managers programme.
The $28bn Alaska Permanent Fund says it's a 'difficult time to be an investor' as it saw heavy losses in the public real estate markets in 2008. Overall, Alaska’s real estate portfolio lost around 8% of its value, with its REIT investments falling almost 50%.
The UK-based association representing more than 20 investor institutions, including the Wellcome Trust, Hermes and the USS, is seeking to raise its profile and better represent LPs during the downturn.
An investment vehicle owned by Johann Rupert will commit $230m to obtain control of two Lehman Brothers Merchant Banking Funds.
A survey conducted at PEI Media’s annual CFO and COO Forum in New York Wednesday also revealed that 9% of firms represented have recently experienced a defaulting limited partner.
Three industry titans vie for one prestigious PERE award. Have you cast your vote? Polls close on 3 February for the third annual PERE Global Awards and competition is fierce. Will MGPA or GIC take the Asian firm of the year award. Will Niam/Goldman Sachs beat competition from AIG for European exit of the year?
Discussing hedge funds in particular and alternatives generally, David Swensen, CIO of Yale’s $17bn endowment, said efforts to emulate Yale’s investment strategy would fail if other institutions use consultants and funds of funds to make investment decisions, instead of hiring a team of in-house professionals, according to a report.
The $35bn United Nations Joint Staff Pension Fund will start investing in funds of hedge funds and private equity. It will also expand its real estate portfolio, currently valued at around $1.8bn, to include infrastructure, agricultural land and timberland.
The final voting round is open for the Private Equity International Awards. Will Apax again be voted European LBO firm of the year? Is the best North American LP still Yale? Can Advent again take the honours in Latin America? Might Abraaj be displaced as best Middle Eastern firm? Influence all these races and more by voting now.
The Pension Benefit Guaranty Corporation, which guarantees the pensions of about 44 million Americans, has hired gatekeepers as it prepares to allocate a portion of its $5.5bn in assets to private equity and real estate.