Alternatives

Texas Teachers: $755 Million in Private Market Commitments

T he Texas Teacher Retirement System has committed US$ 755 million to 5 private market funds. These funds were reported to have received capital commitment agreements approved before September 30, 2014. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


State Street Sells Hedge Fund Unit SSARIS

With some influential, large U.S. pensions like California Public Employees’ Retirement System (CalPERS) dumping hedge funds, the growth of smart beta products and increased regulation like Dodd-Frank, U.S. banks are being compelled to shed their hedge fund businesses. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Temasek Bets on Israeli Ingenuity

When it comes to sovereign wealth funds, Singapore’s Temasek Holdings is big on venture capital investing. The sovereign fund is betting on Israeli ingenuity by agreeing to fund new technologies emerging from Tel Aviv University.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Friday SWFI News Roundup, November 14, 2014

Temasek Acquires Stake in Intas Pharmaceuticals One of Singapore’s sovereign wealth funds, Temasek Holdings, has acquired a 10.16% stake in Intas Pharmaceuticals, an Indian drugmaker. Temasek Holdings purchased the stake from private equity firm ChrysCapital. Hellman & Friedman Raises Some Big Money San Francisco-based Hellman & Friedman LLC raised US$ 10.9 billion for its 8th [...]


Gulf Sovereign Wealth Fund Backs Kelvin Re

Insurance exposure is a budding asset class for institutional investors, especially sovereign wealth funds. A new Guernsey reinsurance vehicle, Kelvin Re Limited, is expected to write a global, diverse reinsurance portfolio amounting to US$ 100 million in its first year. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view [...]


CPPIB Buys Apax Europe VII Stake from SL Capital Partners

Increasingly, sovereign wealth funds and large pensions are seeking secondaries, developing internal resources and hiring consultants to assist with the process. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


avolon

RESILIENCE: Latin American Private Equity Funds Draw Institutional Investors

Latin America, despite cycles of economic and political instability, has a growing middle class. The Latin American private equity market has moved from “niche” to becoming an important component of PE diversification. Global private equity shops have setup offices in cities across the region. Advent International just closed its US$ 2.1 billion fund Advent Latin [...]


CalPERS Commits $80 Million to Grosvenor for CA Mezzanine Program

The California Public Employees’ Retirement System (CalPERS) has committed US$ 80 million to Chicago-based GCM Grosvenor. The new commitment will be funneled through a direct investment vehicle before the close of 2014. The vehicle, California Mezzanine Investments, will use mezzanine debt to finance California companies. The fund will be managed by Grosvenor’s Private Markets unit. [...]


ATP

Denmark’s ATP Forms Special Situations Unit

Denmark’s ATP has five risk classes: interest rates, credit, equities, inflation and commodities. The ATP is forming a unit to focus on “non-traditional assets.” [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Ahmad Al-Sayed

NEXT PHASE: QIA and CITIC Form $10 Billion JV Fund

For years, Qatar has demonstrated significant interest investing in China whether applying for a quota under China’s QFII scheme, being a cornerstone investor in the Agricultural Bank of China’s IPO or opening an office in Beijing. The Qatar Investment Authority (QIA) penned an agreement with state-owned CITIC Group Corporation to form a US$ 10 billion [...]


Mirantis Raised $100 Million in Series B Funding

Mountain View-based Mirantis has raised US$ 100 million in Series B funding. Mirantis is the developer of the OpenStack systems integrator. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


VRS Committed $700 Million to 3 Alternative Managers

The US$ 65.2 billion Virginia Retirement System (VRS) committed US$ 500 million to two private equity funds and US$ 200 million to a real estate venture. VRS committed US$ 300 million to Hellman & Friedman Capital Partners VIII, a buyout fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to [...]


Sunsuper Boasts Lively Hedge Fund Program

The US$ 27 billion Brisbane-based Sunsuper has embraced hedge funds as a suitable type of institutional investment. While many Australian superannuation fund peers display disdain for hedge funds, Sunsuper has benefited from them. In the second quarter of 2014, Sunsuper appointed two new hedge fund managers and committed more capital to a current credit hedge [...]


See Which 9 Managers Recently Received PE Commitments from the APFC

The Alaska Permanent Fund Corporation (APFC) has committed US$ 252 million to 9 private equity managers. The private equity commitments were decided by the APFC’s fund-of-funds manager Pathway Capital Management. The other private equity gatekeeper for the APFC is HarbourVest. See the commitments [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please [...]


Credit Hedge Fund Specialist Hired by ADIA

The Abu Dhabi Investment Authority (ADIA) hired a credit hedge fund specialist for a senior fund manager position. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Almost 1.1 Billion: Washington State Investment Board Commits to Tangible Assets and PE

The Washington State Investment Board (WSIB) is allocating US$ 100 million to the Asia-Pacific Energy Infrastructure Fund which is managed by Prostar Capital. Founded in 2010, Prostar Capital is a private equity firm with professionals from First Reserve, ASX-listed Challenger Infrastructure Fund, Credit Suisse and The Australian Gas Light Company. [ Content protected for Sovereign [...]


Friday SWFI News Roundup, September 19, 2014

Scotland Votes “No” for Independence According to the BBC, results for Scottish independence from the United Kingdom show that 55.3% of the people voted “NO”. 44.7% of people voted “YES” for Scottish independence. The question remains if there will ever be a Scottish sovereign wealth fund. Institutional Capital Moves into Mexico for Energy Sierra Oil [...]


Here’s Why CalPERS Dropped Hedge Funds

Are hedge funds losing significance with major institutional investors? The California Public Employees’ Retirement System (CalPERS), the largest U.S. pension fund, expelled hedge funds from its portfolio – sending a shock to the estimated US$ 3 trillion hedge fund industry. Some hedge funds are known for leveraged bets on market beta. CalPERS interim Chief Investment [...]


CCMP Capital Advisors Raises $3.6 Billion for Fund III

New York-based CCMP Capital Advisors, LLC has closed CCMP Capital Investors III at US$ 3.6 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Asian sovereign wealth

BOOM: Carlyle Raises $3.9 Billion for Fourth Asia Buyout Fund

The Carlyle Group has raised US$ 3.9 billion for its fourth Asian buyout fund, Carlyle Asia Partners IV. This is the second biggest private equity fund ever raised that is targeted for Asian investment. The fund excludes Japan since Carlyle is planning to raise a separate Japan fund. To raise capital, Carlyle lowered its management [...]