LP briefs, April 2007

HRJ Capital, famous for its roster of football-star founders, is looking to score $500 million for a global buyout fund-of-funds, one of several funds-of-funds that the firm has recently launched. The Woodside, Calif.-based firm was expected to hold a first close at the end of March. LPs include a number of college endowments, such as Notre Dame University and the University of North Carolina. Meanwhile, HRJ is also currently raising new real estate, venture capital and special opportunities funds-of-funds. It closed its HRJ Growth Capital II fund late last year at $211 million.

Formerly known as Champion Ventures, HRJ Capital was co-founded in 1999 by San Francisco 49ers quarterback Joe Montana, offensive lineman Harris Barton and safety Ronnie Lott. The firm takes its name from their first initials. Montana has since left the firm but is listed on the firm’s website as an “Equity Partner.”

Norway mulls alternative assets

The Norwegian Government Pension Fund is considering a 5% allocation to private equity and venture capital. The $35 billion system currently has no alternative assets, with 60% allocated to bonds and the remainder to public equities. The allocation shift also would include a 10% earmark for real estate, and has been recommended by advisor Norges Bank.


The Ontario Municipal Employees Retirement System named Michael Nobrega as its new CEO in March. Nobrega was most recently president and CEO of Borealis Infrastructure, which manages infrastructure investments for OMERS.

Moore joins CoPERA

The Colorado Public Employees’ Retirement Association has named Tim Moore director of alternative investments. He joined CoPERA in 1996 and has worked on the alternatives staff since 1999. He replaces Chris Reilly, who left late last year.

VC group in Southwest re-organizes

The Colorado Venture Capital Association has dissolved as part of a plan to help form a new regional trade group called the Rocky Mountain Venture Capital Association. The RMVCA will include venture capitalists from Colorado, Arizona, Utah, New Mexico, Nevada, Montana, Idaho and Wyoming. —VCJ staff