Investor Commitments

The close of the West Africa-focused fund comes amid a muted year of fundraising for Africa.

Riverside Micro-Cap Fund IV closed on $650m, including a 5% GP commitment, and has already made two platform acquisitions so far.

The latest monthly report from the largest US pension fund shows its commitment to two private equity funds totalling almost $1bn, while it decided to forego committing to a KKR vehicle.

Some of the top-performing US LPs made commitments to multiple funds in the top 10, which together account for more than half of the $106bn amassed in Q2.

The customised accounts represented 8% of its overall PE portfolio, which now sits at $26bn.

These would-be private equity investors have yet to commit wholeheartedly to the asset class, but if they did the impact would be significant.

Brian Hughes, who heads the $180bn pension fund’s private equity team, on the value of diversification in the face of global macro headwinds.

The firm has received a new commitment from the New Mexico State Investment Council.

Stephen Blyth had sought to improve returns at the fund, which invested about one-sixth of its portfolio in private equity as of September 2015.

Data from Boston-based investment advisor Cambridge Associates shows first- and second-time funds have often outperformed established funds.