LPs
OTPP in running for Leighton asset – report
Ontario Teachers' Pension Plan (OTPP), Canada’s third-largest pension fund, is reportedly among the final bidders for NextGen, the fibre-optics business being sold by Australian contractor Leighton Holdings. The deal could be worth as much as A$870...
LP interview: Japan's Government Pension Investment Fund
Japan’s Government Pension Investment Fund (GPIF) is considering the addition of alternative investments to its portfolio. It must find a balance between conservatism and the need for higher returns
Korea Teachers to invest in Hamilton Lane, Paul Capital
Korea Teachers Pension Fund (KTPF) will invest $30 million each to Hamilton Lane and Paul Capital as it looks to increase its global exposure to 15% of its overall private equity portfolio by 2018.
Massachusetts pension fund appoints PE head
The Massachusetts Pension Reserves Investment Board (MassPRIM) has appointed Michael Bailey as senior investment officer and director of private equity. The post was previously held by Wayne Smith, who departed in July 2011.
CalPERS sees 12% return on PE investments in 2012
The California Public Employees' Retirement System (CalPERS), the biggest pension fund in the US, reported a 12.24% return on its private equity investments in 2012, compared with a sector benchmark of 28.45%.
IFC backs Lighthouse’s second India SME fund
Lighthouse Funds has won a commitment of up to $25 million from the International Finance Corporation (IFC) for its latest India-focused vehicle. The GP is targeting a corpus of $125 million for India 2020 Fund II, which will invest in small- and medium-sized...
Positive vibes spread on Korea
As I noted in a viewpoint piece last September, private equity in South Korea is seeing a revival internationally. The market has steadily worked its way back from one populated almost exclusively by local GPs – most of them subsidiaries of securities...
LPs on Asia: The risk factor
Proximity is reassuring. It shouldn't be surprising that a corporate governance scandal in Asia triggers concerns among institutional investors in North America who are far removed from the information flow and first hear the news via newspaper headlines...
Texas County & District invests $50m in RRJ’s second fund
Texas County & District Retirement System (TCDRS) has committed $50 million to RRJ Capital’s second fund, which is targeting up to $5 billion. The private equity firm is run by Richard Ong, who previously co-founded China-focused Hopu Investment Management,...
Predictions for 2013
Growth capital, buyouts, public and private exits, secondaries and new frontiers – private equity professionals from Asia and beyond predict the future
Illinois Teachers commits up to $125m to MBK’s third fund
Illinois Teachers' Retirement System has committed up to $125 million to MBK Partners III. The pension plan previously committed $25 million to the North Asia-focused private equity firm’s second vehicle in 2008.
New York Life Capital is renamed GoldPoint
New York Life Capital Partners, the boutique investment arm of New York Life, has renamed itself GoldPoint Partners. The exercise is intended to create a distinct identity for the firm; it doesn’t involve any change in ownership, management personnel...
Hamilton Lane targets $400m FOF, 15% for emerging markets
Hamilton Lane is targeting $400 million for its latest fund-of-funds vehicle, with 15% of the capital earmarked for emerging markets. According to a document sent to prospective investors, Fund VIII promises a fairly even distribution between US and European...
Maine PERS commits $30m to Affinity’s fourth Asia fund
Affinity Equity Partners has secured a $30 million commitment for its fourth pan-Asia fund from the Maine Public Employees’ Retirement Systems (Maine PERS). It was one of four investments, each of the $30 million that the $11 billion pension plan announced...
OPIC funds head Jay Koh to return to private sector
Jay Koh, head of investment funds and chief investment strategist at the Overseas Private Investment Corporation (OPIC), will leave the group at the end of November to return to the private sector. He will relocate to New York.
Japan’s GPIF selects groups for PE feasibility study
Japan’s Government Pension Investment Fund (GPIF) has chosen four companies to conduct feasibility studies for possible future investments in alternative assets, including private equity.
CDC to invest $1b in India via LP, direct commitments
CDC Group, the UK government’s development finance arm, plans to commit $1 billion to India over the next 4-5 years, with nearly half of it coming through direct investment. The projection is in line with a wider adjustment in CDC’s mandate that will...
Co-investment: Friends with benefits
Co-investment deals have been on the rise in recent years, enabling GPs to take on bigger deals and offer LPs fee-less returns. What is driving this trend and are such deals always a good idea?
Pension plans unsure about VC commitments
North American pension plans are exhibiting mixed feelings towards venture capital funds – some find GPs that were once refused to take meetings are now opening up to a wider range of investors while others are backing off from the asset class, blaming...
LPs wary about raising Asia PE allocations above 10% - AVCJ Forum
Institutional investors are generally happy to deploy 10% of their private equity allocation in Asia, but they say it is difficult to justify increasing this portion until risk factors ease and local managers build up stable teams and more substantive...
China to remain world's leading emerging market – AVCJ Forum
Asia – and China in particular – will remain the preeminent emerging markets destination for private equity despite moderating growth and increased competition for deals, GPs told the AVCJ Forum.
A question of discipline
Should managers be frowned upon for cutting fund sizes and returning capital to investors? No – provided the decision is strategically justified.
Asia fundraising: Emerging LPs
Led by a clutch of sovereign wealth funds, Asia’s emerging LPs are looking to boost their alternatives exposure. Fund managers in search of allocations must find out what makes these institutions tick
Asian PE – the show that never stops
It is but a few days until the AVCJ Private Equity & Venture Forum – indeed you may find yourself reading this at the event itself. I am pleased to note that despite the beating private equity has taken in certain markets, our conference is proceeding...