Managers

As of April 29, 283 US-based buyout, growth equity, mezzanine and other PE funds collected a total of $86.1 billion, down 24 percent from the $113.5 billion secured during the same period last year.

The $77.8bn pension had passed its July 2021 goal to grow its PE program, so it reset its targets as of April 1.

CIO Rod June said the $17bn fund had enough cash on hand to handle the increased capital calls.

Early stage VC investments propped up Chinese dealmaking statistics in the first quarter, according to Hao Zhou, head of Bain & Co's Greater China PE practice.

Most larger private equity firms should be able to get along fine without any government assistance, but some smaller firms could face issues, sources say.

The firm invested in DR Fortress LLC in partnership with the company management in January, GI said in a statement. The company is a data center operator in Hawaii.

"Customers are scaling back on tech spending for the first time in a long time. The effects are diverse and tech companies will be impacted differently," Bain Capital's Darren Abrahamson said.

Big LPs may have wanted to lock in their commitments to the fund before their investment committees shut down new investments.

Angeles Equity also does a weekly happy hour call with employees, which Katz said is especially helpful for those who are isolated for much of the work week.

The fund's strategy, designed prior to the covid-19 pandemic, could have even more resonance today with a potentially growing pool of distressed assets.