Private Equity
New York City Police Pension Fund had a bumper year of commitments in 2006 investing in some 25 private equity vehicles (not including secondary funds)—its largest vintage year of commitments by number. Here we include the top ten buyouts funds it committed to that year (excluding secondary vehicles) and compare the results to the median, top and bottom quartile multiples and IRRs for the entire New York City Police Pension Fund portfolio, as of June 30, 2012.
2 min read · 15 March 2013
Affinity Equity Partners has held an interim close of $1.4 billion for its latest Asian buyout fund, Affinity Asia Pacific Fund IV LP. The fundraising has been helped along by several investments by U.S. pension funds, notably the Washington State Investment Board, which committed $300 million at its most recent board meeting.
1 min read · 14 March 2013
Neuberger Berman closed on its second co-investment fund, Neuberger Berman Strategic Co-Investment Partners Fund II LP, raising $1.1 billion, substantially more than the original target of $750 million.
2 min read · 14 March 2013
Advent International takes the first and fourth spots of the $165.8 billion Canadian Pension Plan Investment Board’s top ten largest private equity fund managers performance rankings by multiple as of September 30, 2012.
2 min read · 13 March 2013
It was supposed to be the New New Thing in private equity. But separate accounts haven’t proliferated beyond a handful of big pensions. And a surprising amount of the money has gone into commingled funds on much the same terms as that of other big investors.
5 min read · 11 March 2013
Franklin Park, a private equity adviser spun out from Hamilton Lane in 2003, is offering its latest series of funds of funds to the firm’s advisory clients, according to a pair of filings with the U.S. Securities and Exchange Commission and one of those clients, the Arkansas Teachers’ Retirement System.
2 min read · 11 March 2013
The $17 billion New Mexico State Investment Council announced it reached a settlement with Chicago-based Vanderbilt Capital Advisors that awarded the council more than $20 million of the money it lost due to bad investment decisions made in connection with New Mexico’s pay to play scandal. In a related settlement, the $10 billion New Mexico Educational Retirement Board was awarded $4.25 million from the firm.
3 min read · 05 March 2013
Kohlberg Kravis Roberts & Co. has agreed to charge the Washington State Investment Board a super-low 1 percent annual management fee on the pension fund’s $250 million follow-on commitment to the firm’s flagship fund, KKR North American Fund XI LP, according to a source familiar with the terms. The buyout giant considers the rate a “volume discount,” our source said.
3 min read · 28 February 2013
The usual mid-market suspect comes top of this week’s scorecard looking at the top performers of the $49 billion Massachusetts Pension Reserves Investment Management Board private equity portfolio as of September 30, 2012. The scorecard also highlights the bottom five performers of this sub-set, which interestingly also includes this week’s top performer.
2 min read · 28 February 2013
The Carlyle Group has moved to accelerate its expansion into private equity funds of funds and customized managed accounts by naming Jacques Chappuis as head of its solutions unit, which currently consists primarily of AlpInvest, the Amsterdam-based fund of funds manager in which Carlyle bought a majority stake in 2011.
2 min read · 28 February 2013
