LPs
SFERS hires New York State Common's Art Wang
San Francisco Employees’ Retirement System (SFERS) has appointed Art Wang as managing director for private markets, with responsibility for private equity, real estate and real assets. He joins from New York State Common Retirement Fund (NYSCRF) where...
CDH to reach $1b first close on Fund V by February
CDH Investments is expected to reach a first close of $1 billion on its latest fund by Chinese New Year. The Chinese GP has an overall target of $2 billion for CDH Fund V, which launched in September 2012.
PSERS to invest in Morgan Stanley PE Asia's fourth fund
Morgan Stanley Private Equity Asia (MSPEA) has received a commitment of up to $100 million for its fourth fund from Pennsylvania Public School Employees’ Retirement System (PSERS). The pension system previously invested in global funds launched by Morgan...
Commonfund promotes Beijing office head
Commonfund Capital has promoted Leenong Li, head of its Beijing office and wider Asian initiatives, to managing director. He joined the firm in 2010, having previously spent five years as managing director of Jerusalem Venture Partners’ Shanghai office...
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.
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...
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...
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...
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.
CPPIB targets larger deals, wants to boost emerging markets exposure
Canada Pension Plan Investment Board (CPPIB) is looking to target larger, more complex acquisitions as part of a wider strategy to increase exposure to emerging markets, particularly China. Mark Wiseman, the plan’s CEO, made the observations as CPPIB...
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
Australia's fundraising rebounds with foreign investor support
The fiscal year ended June 2012 was reportedly the best fundraising year for the Australian private equity and venture capital industry since 2007-2008, with more than A$3.3 billion ($3.4 billion) raised by 21 funds.
South Korea VC: State subsidies
South Korea’s venture capital industry is the fourth-largest in the world thanks to generous government support. But is this support helping or hindering the development of self-sustaining investment ecosystem?