Private Equity
The New York City Retirement Systems, the $127 billion group of municipal pensions overseen by the city comptroller’s office, made an impressive $1.1 billion in commitments to five private equity funds in the first quarter, according to Stephanie Hoo, a senior press officer. The funds are managed by The Carlyle Group, Platinum Equity, Landmark Partners, Neuberger Berman and ACON Investments.
3 min read · 09 April 2013
The Florida State Board of Administration, which manages $163 billion in retirement and emergency funds, committed $665 million across four private equity-related strategies, including buyouts, venture capital, mezzanine and distressed real estate debt, according to John Kuczwanski, a board spokesman. All four commitments were made from Florida’s main $132 billion pension fund.
3 min read · 09 April 2013
4 min read · 08 April 2013
Despite typical first-quarter sluggishness, positive signs abound for fundraising for the rest of 2013. Among them are distributions outpacing capital calls, a strengthening economy, a bull market for stocks, and the launching of a number of brand-name funds. In addition, more money from retail investors could start finding its way into the asset class.
8 min read · 08 April 2013
A key person at Texas Teachers’ Retirement System in charge of its much-discussed separate accounts with Kohlberg Kravis Roberts & Co. and Apollo Global Management has stepped down to join the private sector.
2 min read · 26 March 2013
Europe leads the way in Washington State Investment Board’s mezzanine commitments, according to its most recent performance data as of September 30, 2012. The state pension fund has committed to 11 mezzanine funds with vintages ranging from 1985 to 1999.
2 min read · 26 March 2013
AXA Private Equity, the private equity unit of the giant French insurance company, has formally issued a plan to spin out from its parent company, AXA Group. The management-led spinout would value the company at around $660 million. If the deal closes, which the firm estimates will happen by the fourth quarter, the new company will ultimately change its name, and its employees will own a sizable stake in the new enterprise.
2 min read · 25 March 2013
3 min read · 25 March 2013
Up until recently, admission to the exclusive private equity club was limited to pension funds, endowments and the world’s richest families. But in March, The Carlyle Group announced it planned to lower its minimum commitment to a fund to as little as $50,000. The question for investors is: Now that you have greater access, do you want in?
8 min read · 25 March 2013
Riordan Lewis & Haden Equity Partners, a mid-market buyout firm that was co-founded by Richard Riordan, the former mayor of Los Angeles, closed on its latest fund, RLH Investors III LP, with $380 million in commitments. That was substantially more than the fund’s original $250 million target. The fund had been raising money since 2011.
2 min read · 21 March 2013
