North America

Persuading family businesses to sell

As the baby-boomer generation looks to retire and sell their family-owned businesses, owners remain skeptical about the benefits of a private equity buyer.

Kleiner Perkins’s Doerr becomes chair

John Doerr, who joined the venture capital firm in 36 years ago, will focus on developing the next generations of partners.

Berkshire closes ninth fund on $5.5bn

Berkshire Fund IX is $1bn larger than the previous fund, which closed in 2011 on $4.5bn.

Sun Capital found liable for $4.5m in pensions

Sun Capital Partners’ Funds III and IV, which acquired copper company Scott Brass in 2006, are liable for the retirement liabilities owed to a New England pension fund by their portfolio company.

CVC rejects Lisa Lee discrimination claims

The firm has branded its former employee’s allegations as “nothing more than petty slights and trivial inconveniences”.

Pomona targets $1.75bn for Fund IX

The fund of funds manager is back in market with Pomona Capital IX, according to a US regulatory filing.

Moore Charitable Foundation caught in Caspersen case

The foundation alleges former Park Hill managing director lied about an investment relating to the restructuring of an Irving Place Capital fund.

State Street to acquire GE Asset Management

State Street Global Advisors is planning to pay $485m in cash with the transaction expected to increase its assets under management by $100bn.

Pennsylvania SERS’ investment director leaves for AEGON

Brandon Halm, Pennsylvania State Employees’ Retirement System’s director of alternative investments, left the pension fund after almost three years.

Russell Read named CIO at Alaska Permanent Fund

Read, a former CIO at CalPERS and Kuwait’s GIC, is the latest addition to the sovereign wealth fund, following the appointment of a new CEO in October.