Dietrich Knauth
Florida State Board of Administration is lining up a $125 million commitment that would push up its in-state technology investment program to $1 billion. Hamilton Lane is responsible for most of Florida Growth Fund, which covers venture, growth and mezzanine debt investments in private businesses with significant presence in Florida. A planned new commitment would […]
Washington State Investment Board at its February meeting approved $750 million in private equity commitments, backing funds focused on growth, credit, and impact investments. The board committed: $300 million to Stone Point Capital’s Trident VIII fund, which has a $6.5 billion hard cap and will focus on North America and Western Europe buyouts in the […]
Pennsylvania Public School Employees’ Retirement System committed $150 million to two Santé healthcare funds. The $56 billion pension committed up to $75 million to Santé Health Ventures III and up to $75 million to Santé Health Ventures IV. Fund III has a target of $200 million and a hard cap of $250 million, making the […]
Los Angeles City Employees’ Retirement System at its December meeting reported $185 million in private equity commitments, completing recommendations made by its former PE consultant and bringing total 2018 commitments to $500 million. The $17 billion system hired TorreyCove Capital Partners as its PE consultant over the summer, replacing Portfolio Advisors. The system also adopted a 2019 strategic plan aimed […]
State of Michigan Investment Board at its December meeting reported $435 million in third-quarter PE commitments, aiming to increase its exposure to the asset class in 2019. The board, which manages $73.1 billion in assets in four state retirement plans, set an 18 percent target allocation to private equity for 2019. It just about reached […]
Endowments and foundations are optimistic about private markets going into 2019 and they view special-situations and growth-equity strategies as offering the most medium-term upside, a recent survey by NEPC shows. Endowments and foundations remain fairly bullish on private equity, although expectations seem to have tempered a bit: 51 percent of respondents said PE would outperform other […]
New Jersey State Investment Council approved $275 million in private equity commitments at its November meeting, backing TPG’s second social-impact fund and a middle-market consumer fund. The $79.4 billion state pension system committed up to $125 million to Rise Fund II, which is part of the TPG Growth platform. Rise Fund, which has a $3.5 […]
Massachusetts Pension Reserves Investment Management Board at its Nov. 29 meeting committed $105 million to two managers, investing in software-focused growth equity and venture capital. The $77.2 billion pension system approved a commitment of up to $75 million to JMI Equity Fund IX and $30 million to Flagship Pioneering Special Opportunities Fund II. MassPRIM had […]
New York State Teachers’ Retirement System committed $700 million to four private equity funds in the third quarter. The retirement system, which manages $115 billion in assets, made its largest commitment of the quarter to Hellman & Friedman, committing up to $300 million to its Capital Partners IX fund. The Hellman & Friedman fund, which […]
Buyout funds remain popular, but venture capital funds worldwide had their most successful quarter in six years, with 101 funds securing $18 billion, according to a new report from Preqin. More than half of investors surveyed plan to place capital in venture strategies in the coming year, Preqin reported. The number of private equity funds […]