Regulators have reportedly rejected the joint venture, and instead allowed CITIC to launch a private equity arm expected to raise RMB 6bn for its first fund.
The $850m Chicago Firemen’s Annuity and Benefit Fund will make a third secondaries investment by the end of the month.
The Teachers' Retirement System of Illinois made commitments to Onex Partners III and StarVest Partners II despite losing $4bn of value since the end of September. The pension is studying possible allocation changes to adjust to struggling markets.
The firm, which recently closed its third fund on $1.2bn, will end its affiliation with New York’s CCMP at the end of January.
The founder of a notable New York law firm has been accused of impersonating an Ontario Teachers’ Pension Plan official, reportedly in an attempt to defraud Fortress Investment Group. Dreier had reportedly been in talks with a division of Fortress Investment Group about a $50m investment in an unnamed company.
Investors in Permira’s Fund IV have been given the option to limit their capital contribution to 60% of the amount they originally committed to the €11.1bn fund.
Harvard’s endowment has lost 22% of its $40bn portfolio value since June. It is bracing for up to a 30% drop in value for the year, once its receives fully updated private equity and real estate valuations.
The Boston-based fund of funds manager will invest a separate account for the $27.9bn Alaska Permanent Fund. In a separate action, the oil fund approved a minimum $200m commitment to its gatekeepers for each of the next five years.
The $29.3bn Pennsylvania State Employees’ Retirement System has put off approving commitments to two private equity and two venture funds, including Hellman & Friedman’s latest vehicle. The pension reported an investment return of -14.4% through the third quarter.
Corporate finance lawyer Jacques Demers will lead OMERS Strategic Investments, a new investment division tasked with making very large investments for the pension in 'global asset companies' including airports, real estate and energy projects.