Co-investments have given the pension plan a greater insight into its GPs, although finding suitable opportunities is ‘threading a narrow needle’, says Michael Bailey, director of private equity.
Singapore
Sumitomo Mitsui Banking Corporation committed $20 million to a venture capital fund of funds managed by Vertex Venture Holding. The fund will invest in venture funds focused on businesses in consumer, healthcare and technology industries.
At a turbulent time for the industry, LP opinions are more important than ever. Here are the charts from Private Equity International’s Perspectives Survey that reveal what they think of today’s major talking points.
Alaska Permanent Fund is the latest public LP to bet on NEA 17, which is targeting $3.6 billion.
Months after opening its San Francisco office, the largest Canadian pension fund has so far made commitments to three Silicon Valley managers, according to Delaney Brown.
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A new survey finds just 17 percent of 146 institutional investors plan to invest more in venture funds in the next 12 months.
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.
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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.
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