LPs
LP interview: CDC Group
Four years ago, controversy and political pressure forced the UK’s CDC Group into a major shift in strategy. Managing Director Alagappan Murugappan explains how the development fund has evolved since then
OPIC seeks fundraising proposals from emerging markets GPs
The Overseas Private Investment Corporation (OPIC), a development finance institution (DFI) backed by the US government, has issued a call for proposals from private equity fund managers raising funds for emerging markets.
Indian LPs: Commitment issues
Proposed reforms of investment guidelines for India’s pension system suggest that more domestic capital could flow into the asset class. But is the country’s wider LP community really warming up to PE?
Korea's NPS ups alternatives exposure to 9.9%
The National Pension Service of Korea (NPS) increased its alternatives allocation from 9.4% to 9.9% over the course of 2014 as total assets grew by 10.3% to reach KRW470 trillion ($435 billion).
Asian LPs back Israel-based Viola's $250m fund
At least six Asian investors are LPs in the latest fund being raised by Israel-based technology growth capital and buyout firm Viola Private Equity, which reached its targeted amount of $250 million.
China's Legend Holdings files for Hong Kong IPO
Legend Holdings, sponsor of China-focused GPs Hony Capital and Legend Capital, has filed for a Hong Kong IPO. The firm is reportedly seeking to raise as much as $3 billion.
Indian pension regulator considers opening door to PE
India’s Pension Fund Regulatory and Development Authority (PFRDA) is looking into ways in which domestic pension funds can participate in private equity and venture capital funds.
Texas County & District re-ups for RRJ Capital's third fund
Texas County & District Retirement System (TCDRS) will invest $50 million in RRJ Capital’s third fund, which launched earlier this year and is understood to be targeting at least $4 billion.
PE-backed Prabhat Dairy, Dilip Buildcon file for India IPOs
India's Prabhat Dairy and Dilip Buildcon have filed for IPOs, providing an opportunity for their private equity backers to make partial exits.
LP interview: PGGM
Following the decision to sell AlpInvest Partners, Dutch pension fund PGGM set up its own PE division. There is a preference for buyouts in Asia’s developed markets and a growing appetite for co-investment
Magma Fincorp raises $80m from KKR, Leapfrog, IVFA
Magma Fincorp, an Indian non-banking finance company (NBFC), has raised INR5 billion ($80 million) from KKR, LeapFrog Investments, and India Value Fund Advisors' (IVFA) Indium V.
Secondaries: A ticking clock
All the talk of a swath of GP restructurings in Asia has yet to become reality. As India and China funds raised during the heady times inch closer to the 10-year mark, are we about to see a breakthrough?
RRJ makes Fund III filing, registers $762m
RRJ Capital has made a US regulatory filing for its third China and Southeast Asia-focused fund, indicating that $762 million has been committed by LPs so far. This does not necessarily reflect the full extent of the GP’s fundraising efforts.
PennSERS commits $50m to Primavera's second China fund
Pennsylvania State Employees’ Retirement System (PennSERS) has agreed to invest $50 million in Primavera Capital’s second China fund.
Customized solutions: LPs look beyond the blind pool
Boyu Capital and Hopu Investment Management both participated in a $2.5 billion investment in Singapore-listed warehouse developer Global Logistic Properties (GLP) last year, but the other consortium members arguably make for more interesting reading....
VIDEO: Shearman & Sterling's Lorna Chen
Chinese GPs that made their names with renminbi-denominated funds and then sought to launch US dollar vehicles are finding it harder than they expected to win over international LPs, according to Lorna Chen, a partner with law firm Shearman & Sterling...
Taiwan's Bureau of Labor Funds issues real estate, infrastructure mandates
The Bureau of Labor Funds (BLF), Taiwan’s largest pension fund system, will allocate a total of $2.4 billion to 12 global alternatives managers - four in real estate and eight in infrastructure.
Australian LPs sacrificing higher returns due to fee concerns - AVCJ Forum
Australians are missing out on higher returns on their retirement savings as a result of superannuation funds’ preoccupation with the fees charged by private equity managers and their reluctance to participate in the asset class, industry participants...
KIC, Kingdom Holdings to partner on PE investments
Korea Investment Corporation (KIC) and Kingdom Holding Company (KHC), an investment company controlled by Saudi billionaire Prince Alwaleed bin Talal, have agreed to collaborate on private equity investment opportunities.
LP interview: Arizona PSPRS
Over five years spent investing in Asian private equity, Arizona Public Safety Personnel Retirement System (Arizona PSPRS) has gradually moved from a pan-regional to a country-focused approach.
Hong Kong's Future Fund advised to target alternatives
Hong Kong’s Future Fund, a vehicle intended invest budget surpluses to cover future liabilities arising from an ageing population and slower economic growth, has been advised to target long-term, less liquid assets such as private equity.
TRS Illinois backs RRJ, Carlyle Japan funds amid $900m strategy
US-based pension fund Teachers' Retirement System (TRS) of the State of Illinois is backing RRJ Capital's third flagship fund and The Carlyle Group's third Japanese buyout as part of $900 million worth of commitments planned across nine alternative investment...
LP Interview: SunSuper's Michael Weaver and HOSTPLUS' Neil Stanford
Michael Weaver, private markets manager at SunSuper, and Neil Stanford, investment manager for private equity at HOSTPLUS, discuss portfolio composition and performance.
Australian pension funds most aggressive on alternatives – study
Australia’s superannuation funds have been the most aggressive of the major global pension players in developing alternatives exposure over the last 10 years, according a new study.