Alternatives

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 [...]


SWFI – Movers and Shakers – August 25, 2014

Jim Murray Joins Vector Capital Jim Murray has been hired by San Francisco-based Vector Capital as chief financial officer. Before, he spent 14 years at Blum Capital as chief administrative officer and chief financial officer. Kirkpatrick Named Secretary of CFTC Christopher J. Kirkpatrick has been appointed Secretary of the U.S. Commodity Futures Trading Commission (CFTC). [...]


Ireland

China Ireland Technology Growth Capital Fund Invests in FieldAware

Dublin-based FieldAware, a startup technology firm the creates and sells mobile applications, has received investment from a sovereign wealth fund through a joint venture fund. In addition, two more similar capital raises are slated for announcement in the coming weeks. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view [...]


JMI Equity Attracts Public Funds, Raises $1 Billion for Fund VIII

Baltimore-based JMI Equity, a private firm focusing on software, internet, business services and healthcare tech, raised US$ 1 billion for JMI Equity Fund VIII, L.P. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Sovereign Wealth Funds Could Own a Significant Piece of Shutterfly

Redwood City-based Shutterfly Inc., a photo sharing website, has received a number of buyout offers from private equity firms. Second round bidders include Hellman & Friedman LLC, Silver Lake Partners LP and Bain Capital LLC. These private equity funds have attracted sovereign wealth funds and pensions as fund investors. Often times, these large institutional investors [...]


Ireland

CIC Eyes Irish Aircraft Leasing Company

The China Investment Corporation (CIC) is eyeing a possible takeover of Avolon, an Irish-based aircraft leasing firm. The CIC is partnering with Aviation Industry Corporation of China (AVIC), a state-owned aerospace and defense business, in a move to acquire Avolon.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. [...]


LDP’s Shiozaki Calls for GPIF to Invest in Private Companies

Yasuhisa Shiozaki, deputy policy chief of Japan’s Liberal Democratic Party (LDP), has called for Japan’s Government Pension Investment Fund (GPIF) to be allowed to invest in unlisted companies, specifically unlisted ventures and small-to-medium enterprises. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Friday SWFI News Roundup, August 8, 2014

Nigeria Sovereign Investment Authority to Manage US$ 350 Million for NBET On July 24, the Nigeria Sovereign Investment Authority (NSIA) and Nigerian Bulk Electricity Trading Plc (NBET) signed a funds management agreement. US$ 350 million is being allocated to the NBET from the US$ 1 billion Eurobond issued by the Nigerian government in July 2013. [...]


Juno Therapeutics Raises $134 Million for Series B Round

Seattle-based Juno Therapeutics Inc., a biotechnology company focusing on novel immunotherapies for cancer, closed a Series B round with US$ 134 million in new investment. In total, Juno has raised over US$ 300 million in the past 12 months – this includes a US$ 176 million Series A round in April. The new capital will [...]


Ardian in Discussions over $2 Billion Sovereign Fund Private Equity Stakes

Paris-based Ardian, formerly Axa Private Equity, is in discussions to acquire private equity fund interests worth more than US$ 2 billion from a Gulf sovereign wealth fund. Ardian is a private equity firm which has raised a significant amount of capital for its secondary-focused funds. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers [...]


Wealth Funds Take Lead on Central and Eastern European PE Investing

Mid Europa Partners, a private equity fund that focuses on central and eastern Europe, has raised €810 million for its fourth fund, Mid Europa IV GP L.P. The fund can also draw in €650 million in additional commitments (thanks to sovereign wealth fund capital) that want to co-invest with Mid Europa. [ Content protected for [...]