Sam Sutton

The Chip Schorr-led firm has brought on former colleague Michael Stephenson from Citigroup Japan to focus on software and services investments from the firm’s New York office.

Weeks after announcing Japan’s largest buyout in two years, the private equity giant is dropping $487m on medical response technology provider Physio-Control.

A majority of private equity executives surveyed expect acquisitions and exits to remain the same or fall during the second half of 2011, according to a recent study from EisnerAmper.

The $37bn retirement system launched its co-investment programme last year as part of a private equity portfolio shake-up, which included plans to sell older investments and increase its exposure to international funds and secondaries.

The firm’s European co-chair is stepping down to concentrate on deals, while other high profile partners are leaving or moving to part-time as the firm shifts its European focus in response to the continent’s volatile marketplace.

The $45bn retirement system, which allocated $1bn for private equity and venture capital in its 2011 investment plan, recently committed to KKR's mega-fund and Hony Capital's fifth fund.

Despite $385bn in dry powder, a weak exit environment does not bode well for private equity managers stuck with unrealised, pre-crisis assets, according to Vestar founder Norman Alpert.

Marlon Sahetapy started at the firm’s Singapore office in October, where he oversees fundraising and investor relations in Europe, Asia and the Middle East.

OMERS Ventures, which launched in October, has hired Howard Gwin to help target early stage and growth investments in the North American media, technology and telecom companies.

The partnership with South Africa’s Pangea Exploration is considering mining opportunities in Mozambique, Botswana, Namibia as well as West and Southern Africa.