gregory roth
The $170 billion California State Teachers’ Retirement System, as part of a “subtle” shift to its long-term allocation targets, boosted the amount of money it plans to invest in private equity by 1 percentage point, to 13 percent of its overall portfolio, according to a news release. The increase translates to $1.7 billion, sister publication Buyouts reported.
Venture capital has wallowed through nearly a decade of difficult returns and sluggish fundraising. The decision by the California Public Employees’ Retirement System to largely abandon new commitments to venture funds will likely prolong the agony.
Georgia’s public pensions, long prohibited by state law from investing in alternative investments like private equity, may now be closer to allowing such investments.
America’s largest and most influential pension fund has laid down the law on all private equity firms hoping to stay in its good graces or land new commitments. The $235 billion California Pubic Employees Retirement System has told private equity firms that from March 1, 2012 forward, they will have to comply with its new ILPA-style terms on capital calls and distributions. Or else.
Who lords over Facebook.com, the King Kong of social networking? Wisconsin! The state’s pension fund is now Facebook’s landlord. The giant social Web site, which counts more than 500 million members, said on Tuesday that it plans to move 1,400 of its 2,000 employees into the 1 million square foot, 11-building former headquarters of Sun […]
Chris DeRose, the chief executive of Ohio’s Public Employees Retirement System (OPERS), announced Monday that he is resigning. While a departure date was not mentioned, a spokeswoman for the big pension system said DeRose planned to stay until an interim chief was named and the board of trustees had worked out a transition plan. DeRose […]