The UK-based association representing more than 20 investor institutions, including the Wellcome Trust, Hermes and the USS, is seeking to raise its profile and better represent LPs during the downturn.
An investment vehicle owned by Johann Rupert will commit $230m to obtain control of two Lehman Brothers Merchant Banking Funds.
A survey conducted at PEI Media’s annual CFO and COO Forum in New York Wednesday also revealed that 9% of firms represented have recently experienced a defaulting limited partner.
Three industry titans vie for one prestigious PERE award. Have you cast your vote? Polls close on 3 February for the third annual PERE Global Awards and competition is fierce. Will MGPA or GIC take the Asian firm of the year award. Will Niam/Goldman Sachs beat competition from AIG for European exit of the year?
Discussing hedge funds in particular and alternatives generally, David Swensen, CIO of Yale’s $17bn endowment, said efforts to emulate Yale’s investment strategy would fail if other institutions use consultants and funds of funds to make investment decisions, instead of hiring a team of in-house professionals, according to a report.
The $35bn United Nations Joint Staff Pension Fund will start investing in funds of hedge funds and private equity. It will also expand its real estate portfolio, currently valued at around $1.8bn, to include infrastructure, agricultural land and timberland.
The final voting round is open for the Private Equity International Awards. Will Apax again be voted European LBO firm of the year? Is the best North American LP still Yale? Can Advent again take the honours in Latin America? Might Abraaj be displaced as best Middle Eastern firm? Influence all these races and more by voting now.
The Pension Benefit Guaranty Corporation, which guarantees the pensions of about 44 million Americans, has hired gatekeepers as it prepares to allocate a portion of its $5.5bn in assets to private equity and real estate.
The firm will also cut management fees across the board and has promised not to call more than 30% of LPs’ total commitment next year.
The Switzerland-based firm was targeting $1bn for its second Asia-focused ‘programme’, a series of vehicles which will invest in primary funds and secondary transactions and also partner on direct investments.