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Sam Sutton

Los Angeles County Employees Retirement Association at its August meeting committed roughly $390 million to three new private equity funds, which could bring its total commitments for the year north of $1 billion. Last week, the LACERA board of investments approved a commitment of up to $200 million to Onex Partners flagship buyout fund, along with up to […]
Hark Capital is raising a $100 million fund to provide asset-backed loans to private equity and venture capital funds. Unlike many private debt funds, which typically provide loans to individual companies, Hark Capital loans are backed by the underlying assets held by each of its financial sponsors’ funds. In the event of a default, Hark Capital’s […]
Teachers’ Retirement System of Louisiana might commit as much as $1.6 billion to private-market funds over the next year, up 14 percent from its allocation in the most recent fiscal year. The Louisiana Teachers’ board, which elected to move forward with the FY 2018 investment plan earlier this month, plans to commit as much as $550 million to buyout […]
San Francisco Employees’ Retirement System’s private equity program has netted a 15.8 percent internal rate of return since inception, surpassing its benchmark by more than half a percentage point, according to a TorreyCove Capital Partners report distributed at its Aug. 9 board meeting. San Francisco, which launched its PE program in 1987, measures its portfolio of PE and […]
Bain Capital’s fund for investments in environmentally or socially impactful investments held a final close on $390 million. The firm marked the close of the Bain Capital Double Impact Fund by announcing its first two investments through the new platform. Living Earth recycles organic waste into compost and mulch. Its other portfolio company, Impact Fitness, […]
California Public Employees’ Retirement System’s emerging-manager program is increasingly targeting investments with women- and minority-owned private equity firms, even though it’s not an official goal of the program, Portfolio Manager John Greenwood said at at the Emerging Manager Connect West conference in San Francisco on May 11, produced by VCJ publisher Buyouts Insider. “The State […]
In April, the board of California Public Employees’ Retirement System praised a proposed budget that slashed $131 million from the annual fees the system pays to its private equity managers, bringing projected fees to $260 million. Unlike previous years, however, CalPERS’s proposed budget for PE-management fees in the 2017-2018 fiscal year does not factor in […]
Valor Equity Partners is marketing its latest growth equity fund with a $750 million target, two limited partners told VCJ. The firm has not set a hard cap, but Valor Equity Partners IV is unlikely to surpass $1 billion. New York State Teachers’ Retirement System and Illinois Municipal Retirement Fund both committed up to $75 million to the fund […]
Kohlberg Kravis Roberts & Co invested $70 million in French software company Ivalua from its $711 million Next Generation Technology Growth Fund, which held a final close in December. KKR had announced two other deals since the fund closed, including an investment in ride-sharing company Lyft’s $600 million Series G round and a $50 million […]
California State Teachers’ Retirement System allocated $250 million to a separately managed account with Invesco Private Capital to direct commitments to new fund managers, spokesman Ricardo Duran told Buyouts in an email. The fund, New & Next Generation IV, will generally commit to PE firms raising their first, second or third institutional fund. Invesco will likely […]

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