Investor Commitments

The Texas Municipal Retirement System approved nearly $380m for private equity commitments so far this year, short of its $600m target.

The Iowa Public Employees’ Retirement System is keeping its $800m annual commitment level to private equity, which it raised from $700m in 2015.

Despite perceptions of a move to trim back manager relationships, almost 80% of LPs are looking for new partnerships, surveys find.

Beyond continued interest in traditional PE funds, high-net-worth individuals are increasingly seeking access to direct investments alongside GPs, says Lawrence Calcano, CEO of iCapital Network.

The Canadian pension fund’s private equity portfolio had been steadily increasing, marking a 5% quarterly increase in its fiscal second quarter ended 30 September.

The Californian pension wants to hire funds of funds managers to help it invest $150m each year until 2018 and is interested in secondaries.

Daniel Green, a veteran secondaries investor, has taken on a broader remit that will cover primaries and secondaries across various private markets.

More US endowments and foundations plan to increase their allocation to private equity than at the beginning of the year, as the search for yield continues.

The lower mid-market firm launched the fund earlier this year targeting $200m to invest in entrepreneur and family-owned business in five core sectors.

Thoma Bravo’s funds have satisfied their LPs to justify their streak of no preferred return going forward.