The pension made a host of private equity and real estate commitments in the fourth quarter, and plans on staying active in 2010, said Mansco Perry, Maryland's CIO.
French private equity firm IDI Group is in exclusive talks to buy AGF, currently raising a €400m vehicle. If it succeeds, it will more than triple its assets under management.
Industry participants are raising red flags over the pension giant's decision to sponsor legislation that would require placement agents to register as lobbyists and ban success fees.
Bids that came in for the private equity stakes were not ‘on par with the value of the assets’, the endowment’s CEO John Powers told PEO in an interview.
Joseph Dear, CalPERS chief investment officer, said private equity investments will ‘fuel our portfolio in future years’.
The commitment comes as the $200bn pension is reviewing its private equity programme, including analysing fees paid by its fund managers to placement agents.
Wesley Edens, the firm’s co-chairman, said Fortress portfolio company Nationstar, a mortgage servicer, was a candidate for a possible IPO.
The Oregon Investment Council has asked Wesley Edens, principal and co-chairman of Fortress Investment Group, to review the firm’s fee structures.
Markstone does not expect the criminal case against its former chairman Elliott Broidy to have an effect on the ‘value of investors’ interests in the partnership’.
LPs have voted to slash the fund to €2.7bn following the departure of the firm’s chief executive in September.