The Institutional Limited Partners Association wants to make sure fund managers are transparent with investors about their use of capital call credit lines and, in particular, about the impact that the loans have on IRRs and investment multiples. The Washington-based trade group for limited partners is crafting guidance on best practices in the use of […]
By Clint Korver, Ulu Ventures When AppDynamics was acquired by Cisco just before its planned IPO, reports credited early investor Greylock Partners with a return of 100x on its investment in the San Francisco-based enterprise software company. That report was soon amended to reflect that Greylock’s return was closer to 25x, returning an excellent $590 […]
A 2005 fund from JMI Equity is at the top of a portfolio of late-decade growth funds at the Hawaii Employees’ Retirement System by a mile. The portfolio of vintage 2004 to 2010 funds is weighted toward large funds. Seven are a billion dollars or larger, in several cases much larger. Included is TA Associates’ 11th […]
A 2008 fund from Aisling Capital sits on top of a venture portfolio of mid-life and newly minted funds at the Pennsylvania Public School Employees’ Retirement System, according to a recent performance report. The portfolio favors mid-sized funds with a multi-stage approach to investing. All but three of the funds fall between $350 million and […]
A 2007 fund from Tenaya Capital leads a mid-decade venture portfolio at the Pennsylvania Public School Employees’ Retirement System. The portfolio is an unusual mix of mid-sized and smaller funds favoring a later or multi-stage approach to investing. Only one fund is above $1 billion, and that fund invests in secondaries. The remaining 10 funds […]
SCERS
Pension Consulting Alliance resigned its contract as private equity consultant with California Public Employees’ Retirement System, according to a letter signed by Managing Director Allan Emkin. It’s unclear why the firm resigned. The PE consultant advises the CalPERS board on its $25.4 billion portfolio. PCA signed its most recent contract with the $310.8 billion retirement […]
Three small secondary purchases top a portfolio of late-vintage growth funds at Hawaii Employees’ Retirement System, though funds from Summit Partners and Abraaj Capital also stand out. The portfolio of funds from vintages 2011 to 2016 is weighted toward large pools of capital. More than half the 10 funds are $1 billion or larger, and […]
By Peter Freire, CEO, ILPA It has been more than two decades since the Institutional Limited Partners Association (ILPA) was founded as an informal networking club of 15 to 20 LPs who gathered twice a year to share information on their experiences. Since that time, the organization has evolved considerably, with great progress but little […]
A 2012 Canaan Partners fund is firmly in front of a generally well-performing early-decade venture portfolio at Hawaii Employees’ Retirement System. The portfolio of vintage 2011 to 2015 funds includes several of the best performing fund years of the past decade-and-a-half. And it reflects these better times. All but two of the still young funds have […]
A pair of tiny secondary purchases leads a late-decade portfolio at Hawaii Employees’ Retirement System, but three Battery Ventures funds are the ones that shine. The portfolio of 10 venture funds with vintages of 2007 to 2010 has done remarkably well overall. All but two of the funds had IRRs in the double digits as […]
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