LPs

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 […]

The California Public Employees’ Retirement System announced on Feb. 13 that it had a lower return of about $900 million since September, when the fund reduced risk from the portfolio by selling some equities. CalPERS Chief Investment Officer Ted Eliopoulos said during a board meeting that he wanted to “allay some of the anxiety and […]

A maturing portfolio of near end-of-life funds at the Hawaii Employees’ Retirement System has felt the retrenchment of the past 1½ years, but Canaan Partners’ seventh fund remains on top. All but two of the funds in the portfolio saw their performance pull back in the nine quarters ended March 2016, according to a recent […]

California Public Employees’ Retirement System in the second half of 2016 grossed $434 million from the sale of its stakes in 26 private equity funds managed by 16 firms, according to a Pension Consulting Alliance report included in materials for an upcoming meeting. The sale was an auction process run by staff with Cogent as an […]

Examine vintage-year fund returns from industry monitor Cambridge Associates and several things stand out: First, vintage-year performance for venture funds began climbing in 2007 and has remained solid since. Second, prior to 2007 and dating back to the end of the dot-com boom, pooled performance did the opposite: It sagged and remained low. Such is […]

Buyouts and VCJ maintains a detailed list of commitments to private equity and venture capital funds by public limited partnerships. The attached file contains more than 1,800 commitments from 2011 to 2017. Click here to download: 2011-2017 LP Commitments Art Credit: Money bag icon on blackboard with hand from ©iStock/StockFinland  

Los Angeles City Employees’ Retirement System continues to believe in venture and, in particular, large and mid-tier funds with scale-up capital. The city pension manager bought into five funds last year, including those from Spark Capital, Technology Crossover Ventures and DFJ, according to a recent portfolio report. That’s two more than 2015 and one ahead […]