The $102bn pension board voted to ‘rescind’ approval to buy an LP stake in Huntsman Gay's $1.1bn debut fund after failing to come to agreement with the seller.
LPs have approved a one-year extension for the investment period of the firm's, co-led by Mark Patterson, $5bn third fund.
The Blackstone Group has granted a number of investors additional time to make commitments to its Blackstone Capital Partners VI fund before making a final close.
Margot Wirth, head of private equity for the $133bn pension, sees a shift away from totally ‘blind trust arrangements’.
The firm and the pension have forged a ‘strategic relationship' in which fees will decrease on on funds Apollo manages 'solely' for CalPERS.
Asian private equity funds compare favourably with global funds across certain parameters such as management fee-offsets and distribution waterfalls.
Duff & Phelps explains the definition and valuation applicability of a lock-up. An excerpt from The Definitive Guide to Private Equity Valuation: An in-depth A-Z guide to valuing investments fairly, a new book from PEI Media.
If reports that several private equity firms have retained counsel to look into anti-trust issues related to the ILPA guidelines are true, it would seem that GPs are trying to pull the pendulum back in their direction.
With some LPs hesitant to give GPs carte-blanche with their money, the popularity of the pledge fund has resurged. Fadi Samman of law firm Akin Gump highlights some issues to keep in mind when negotiating the terms and conditions for such a vehicle.
Julian Ashworth and Philip Millward of global law firm Walkers discuss the legal points to consider in secondary transactions.
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