Sam Sutton

On the heels of hiring its investment staff, the $10bn Russian government-backed vehicle has named several private equity heavyweights to its board in preparation for its first investment.

While fundraising appears on pace to break the record $8.1bn raised in the region in 2010, Latin American deal volume has fallen by 30% compared to the same period last year.

The bank’s parallel Asia-focused private equity vehicles have struggled with fundraising, collecting only $42.5m since their joint filings in December.

The firm’s private equity funds increased in value by 33% in 2010, according to the report.

The commitments to Blackstone, Kohlberg & Company and Oak Hill are the first from the $13.8bn retirement system since allocating $375m to private equity in FY 2012.

The fund manager’s addition to its Asia-Pacific team will help develop new relationships in Australia, an increasingly important source of capital, says Evercore's Richard Anthony.

The Florida State Board of Administration has re-upped to the state's growth fund, which targets investments in Florida-focused fund managers and co-investments.

More than 60% of capital deployed globally by private equity firms was invested in North American companies last year, a report by The Private Equity Growth Capital Council has found.

An Ohio paper manufacturer has filed for Chapter 11 bankruptcy four years after Cerberus purchased the company in a $2.3bn leveraged buyout.

The Brazilian firm will focus on consolidating and franchising restaurants and food services companies to capitalise on growing consumer demand in the sector.