US

Staff and trustees of the $85bn California pension are reckoning with a recent history of lagging behind peers’ rebounding private equity portfolios.

'We are strong believers that AI will continue to increase the already large investment opportunity in B2B software companies,' JMI managing partner Peter Arrowsmith told Buyouts.

There’s an increased appetite this year for growth equity and buyout strategies, particularly among global family offices with $1bn-plus in AUM, according to a new survey.

Fund I’s limited partners include pension funds, insurance companies, asset managers, foundations, endowments, family offices, and high-net worth individuals.

The firm closed $525 million for its third special opportunity fund and $500 million for its second digital infrastructure fund.

The fundraising brings Dextra’s total assets under management to about $5 billion.

The fund aims to bolster local economies with investments.

In a tough fundraising market, an opportunity to add a new and very rich pool of retirement savings as a capital source is enticing for private equity GPs, especially the very largest.

Pact has so far made minority investments in Accel-KKR, a technology-focused investment firm, as well as in Graham Partners, a private equity firm specializing in advanced manufacturing and industrial technology.

High River Resources II’s limited partners include institutional investors, registered investment advisors, and family offices.