Christopher Witkowsky
The $154bn pension system has presented a 2011-2012 business plan that includes a target of $300m to $600m for new infrastructure investments. The plan also recommends that CalSTRS hire an additional investment officer for the infrastructure team.
The $154bn pension system will review a private equity business plan next week that shows a focus on reducing costs by creating separate accounts and expanding the co-investment programme.
Distressed investors have seen some historic opportunities for profits come and go in the rollercoaster markets of the past few years. Now, all eyes are on Europe
The industry has about $376bn of uncalled capital that was raised in the peak credit years, an overhang that is driving up prices and could expand as many firms are raising funds this year, according to Cambridge Associates.
The firm told LPs at its annual meeting that it will hit the fundraising trail in about 18 months and target $3bn with a hard-cap of $4bn, putting it in line with others managers now raising smaller funds than predecessor vehicles.
The Ohio School Employees’ Retirement System this week committed $40m to Kohlberg Investors VII, a re-up for the pension.
The listed firm has identified 1,200 potential LPs, which it will try to recruit into its funds. Blackstone has collected $15bn for its sixth private equity fund, and has just launched fundraising for its next real estate vehicle.
The listed firm has identified 1,200 potential LPs, which it will try to recruit into its funds. Blackstone has collected $15bn for its sixth fund, which is set to close.
The $150bn pension will consider more opportunities for internal management of investment assets as it looks for ways to cut costs.
KKR’s mezzanine group, led by Fred Goltz, has been partnering with other private equity firms on mezzanine deals, but may put more focus into finding non-sponsored transactions this year.