LPs
Q&A: HESTA's Andrew Major & QIC's Marcus Simpson
Andrew Major, general manager for investments at HESTA and Marcus Simpson, head of global private equity at QIC, share their views on PE performance and where the best investment opportunities lie
Chinese insurers approved to commit more to private equity
The China Insurance Regulatory Commission (CIRC) has raised the cap on insurers’ exposure to publicly traded companies and private equity to 30% of total assets.
CalPERS lowers investment risk, trims PE allocation
California Public Employees’ Retirement System (CalPERS), the largest public pension fund in the US with more than $277 billion in assets, will reduce its target allocation for private equity from 14% to 12%. The move is part of a broader effort to...
ESG: Nice guys finish last?
Responsible investment has is now a priority for many institutional LPs. GPs might recognize the importance of environmental, social and governance principles in this context, but acting on them can be challenging
CDH to close China fund at $2.55b
CDH Investments will reach a final close on its fifth US dollar-denominated China fund at the end of next week, having raised the hard cap to $2.55 billion in order to accommodate investor demand.
Partners Group, Mizuho target Japanese pension funds
Partners Group has reached a deal with Mizuho Financial Group (MFG) to jointly develop and distribute global private equity and infrastructure products to Japanese pension schemes.
A new constituency
As one GP now puts it, sovereign wealth funds "are now the 1,000-pound gorilla in the room."
Asia, Middle East LPs help Affinity to $3.8b close on Fund IV
Affinity Equity Partners has reached a final close of $3.8 billion on its fourth pan-Asian fund, with investors from Asia and the Middle East accounting for a larger share of the corpus than their North American counterparts.
Big brother: Japan's government LPs
The government is becoming an increasingly significant LP in Japanese private equity funds. Smaller GPs can’t live without it but there are wider concerns about sustainability and long-term economic impact
An issue of GP sustainability
Amongst the key issues raised at our AVCJ Forum last November was the fact that many Asian private equity firms lack a long-term business model for both their investments and themselves. This issue will become increasingly important as the industry continues...
Korea sovereign fund's CIO resigns
Dong-Ik Lee, the CIO of Korea Investment Corporation (KIC), has resigned. This comes less than three months after Chong-Suk Choi, president and CEO of the sovereign wealth fund, resigned for personal reasons.
Blackstone passes $3b mark on Asia real estate fund
The Blackstone Group has received more than $3 billion in capital commitments for its first Asia real estate fund, which is targeting $4 billion.
Has Asian PE lost its mojo?
Rewind 14 months to the 2012 AVCJ Forum and LPs were lukewarm on Asia. Several institutional investors participating in panels said it was difficult to justify committing more than 10% of their private equity allocation to the region until risk factors...
CalPERS to cut 269 private equity managers
The California Public Employees' Retirement System (CalPERS) is looking to cut its number of GP relationships to less than a third of the current 389.
Japan's GPIF to make infra investments with OMERS, DBJ - report
Japan's Government Pension Investment Fund (GPIF) will join Canada's Ontario Municipal Employees Retirement System (OMERS) and the government-owned Development Bank of Japan to invest in infrastructure projects abroad.
PSERS, Louisiana Teachers commit to CVC's fourth Asia fund
CVC Capital Partners has received $175 million in commitments to its fourth Asia Pacific fund from Pennsylvania Public School Employees’ Retirement System (PSERS) and Teachers’ Retirement Systems of Louisiana (TRSL).
Onward bound: Asia PE people moves
A selection of the transfers, promotions, arrivals and departures in the private equity community in 2013
LPs expect Asia to underperform North American, European buyouts – Coller Barometer
Global institutional investors expect returns from Asia-focused GPs to trail those of their North American and European counterparts over the next 3-5 years, according to the latest edition of Coller Capital’s Global Private Equity Barometer.
Korea to broaden retail exposure to domestic private equity
South Korean regulators will make it easier for domestic retail investors to participate in private equity as part of a series of reforms designed to boost the country’s capital markets.
INCJ commits $100m to Global Brain Fund V
The government-backed Innovation Network Corporation of Japan (INCJ) will commit up to JPY10 billion ($98.7 million) to Global Brain No.5 Investment Limited Partnership, the latest vehicle launched by IT-focused VC Global Brain Corporation (GBC).
Chinese insurers’ PE investment scope to further relax - CIRC
China Insurance Regulatory Commission (CIRC), the Chinese insurers’ regulator, is looking to raise the cap on industry players’ exposure to private equity to 20%-30% of total assets.
Japanese pension funds must diversify - panel
Japan's public pension funds - which collectively manage more than JPY200 trillion ($2 trillion) in assets - should diversify into alternative assets, including private equity, and have greater independence to do so, according to an expert panel.
The expanding LP universe
Big LPs make all the headlines, whether it is a large commitment to a GP or participation in a mega deal. It is therefore easy to overlook the fact that the institutional investor community is a multi-faceted and expanding creature. This is particularly...
LPs look beyond the fee debate in Asia - AVCJ Forum
LPs value nurturing relations with quality fund managers more highly than driving down management fees as demand for capital continues to outstrip supply.