University of Michigan committed more than $125 million to private equity and venture funds in December, an investment disclosure from the endowment’s Board of Regents shows. The commitments were re-ups or follow-on investments for the endowment. The largest commitment, $50 million, went to Kayne Anderson Energy Fund VIII, a $2 billion fund for growth-equity investments in middle-market […]
It’s a common refrain when asking about sexual harassment in private equity that change needs to come from limited partners. The people controlling the money can put maximum pressure on managers to change their cultures, address sexual harassment and make sure these types of issues get some focus through the ranks. The unfortunate fact is […]
Funds from Battery Ventures, Technology Crossover Ventures and New Enterprise Associates head up a portfolio of late-decade investments at the Public Employees’ Retirement System of Nevada. The portfolio, with vintages of 2008 to 2010, favors larger funds, and a multi-stage or late-stage approach to investing. Three quarters of the funds are $750 million or larger, […]
Funds from Summit Partners, Battery Ventures and Canaan Partners lead a portfolio of later life investments at the Public Employees’ Retirement System of Nevada. The portfolio, with vintages of 2004 to 2007, favors large funds, and a multi-stage and later-stage approach to investing. Half of the funds are $1 billion or larger, and most of […]
Swarthmore, whose $1.95 billion endowment returned 14.2 percent last year, once again faces student activism to divest fossil-fuel investments. Swarthmore Sunrise, the activist student group, wants the college to shed direct investments in fossil fuels. It also wants external investment managers to move the endowment into fossil-free portfolios. The group has asked Valerie Smith, the college president, […]
Funds from New Enterprise Associates, Insight Venture Partners and Oak Investment Partners hold the top spots in a portfolio of newly minted venture funds at the Los Angeles City Employees’ Retirement System. The portfolio, with vintages of 2014 to 2017, favors mid-sized funds, and a multi-stage to later-stage approach to investing. About two-thirds of the […]
Pennsylvania State Employees’ Retirement System is following a strategy employed by other U.S. public pensions, aiming to shrink the number of relationships in its private equity portfolio and concentrate larger checks to fewer GPs this year. Other public systems have gone a similar route after years of building large portfolios stacked with hundreds of GP relationships. […]
Funds from Spark Capital and Technology Crossover Ventures hold the top spots in a portfolio of mid-life venture funds at the Los Angeles City Employees’ Retirement System. The portfolio, with vintages of 2007 to 2013, favors mid-sized funds and a varied approach to investing. More than half of the funds are between $200 million and […]
By Jennifer Kristen Lee, Louis Lehot and Mark Radcliffe, DLA Piper The year 2017 saw the rise of a new form of financing for technology startups: the initial coin offering. The Wall Street Journal recently reported that companies raised $6 billion in ICOs last year, and with $1.8 billion going toward ICOs in the first two […]
New York State Common Retirement Fund disclosed more than $1 billion of commitments to private equity and venture capital funds, including $400 million for new debt and credit-related strategies. The fund, overseen by State Comptroller Thomas DiNapoli, allocated $200 million each to new credit funds managed by GSO Capital Partners and Vista Equity Partners, a monthly investment disclosure shows. […]