Chelsea Stevenson
The retirement system will continue working with its existing advisor Hamilton Lane or hire Portfolio Advisors as its new private equity consultant.
The firm has sold infusion therapy business CarePoint Partners, which it founded in 2007, to hospice provider BioScrip.
The New-Jersey based firm will target investments in lower mid-market healthcare and industrial services companies.
The firm is targeting $750m for Fund II, which will focus on North American investments in the industrial, manufacturing and support services sectors.
The funds raised include about $2.65bn from LPs and a $250m GP-commitment from the New York-based firm.
Mill City, named after Minneapolis’ flour milling era, has launched its second fund that will make investments in upper-Midwest states.
KKR will acquire about 27% or 4.75m shares of the oil field digitalisation company.
The retirement system plans to commit about $1.2bn to the asset class in 2014.
Matthew O’Connor will join Carlyle in September as a managing director on the power investing team.
The state employees’ retirement system, which only became authorised to invest in private equity last year, is one step closer to making its first investment in the asset class.