The Baltimore pension manager has committed $145 million across two venture funds, bringing its total year-to-date VC commitments to $315 million. It's a significant increase from its 2018 VC commitments.
The Boston venture firm secured a $50 million commitment from Texas County and District Retirement System. It returned to market after just two years with its sixth fund, which would be its largest to date if it hits its target of $450 million.
Departure, leaving, new job, quitting job,
Solange Fernandez Brooks will will leave the pension fund at year-end to take a new role at New American Alliance, a nonprofit organization that represents Hispanic business interests. Brooks joined CalSTRS in 2004 and worked across the system’s investment portfolio, with an emphasis on emerging managers and its home loan program.
The Phoenix pension fund also plans to expand its co-investment program from 10 to 20 percent.
Missouri
The pension fund made re-up commitments to New Enterprise Associates and Defy.
“We are trying to find ways to … get venture capital investment back in our portfolio,” Chief Investment Officer Yu (Ben) Meng says at CalPERS’ Nov. 18 board meeting.
TorreyCove suggested the pension cut back, partly over fears of a coming market downturn and poor performance by some of its venture managers.
The State Board of Administration of Florida continues its fund of funds-focused venture strategy with a re-up commitment. The Tallahassee, Florida-based government investment entity made a $100 million commitment to TrueBridge Capital Partners VI during the third quarter, according to a document from the organization. Fund VI launched in August with a target of $575 […]
Mark Yusko, the well-known investor who runs Morgan Creek Capital Management, believes that early-stage venture capital is an evergreen asset class. “There will always be innovative technologies with value potential,” he told Venture Capital Journal. Morgan Creek, which manages $1.6 billion as an outsourced CIO and a fund-of-funds, is currently overweight early-stage venture, but takes […]
Small and mid-cap buyout funds account for 75 percent of the $1.12 billion buyouts portfolio and drove the alpha returns for the private equity portfolio, Chief Investment Officer Farouki Majeed told Private Equity International.
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