Christopher Witkowsky
The $10bn pension system, which only started investing in private equity in 2008, has added some of the biggest names in the asset class to its portfolio, including KKR, Blackstone, Carlyle and Hellman & Friedman.
The firm hired Olav Konig to co-head the London office, and Christopher Maduri, who has real estate and infrastructure fundraising experience, in California.
The Boston-based energy-focused firm has collected about $1.7bn for its sixth fund and expects to end marketing in the first quarter.
In an example of an LP building a customised relationship, the University of Texas Investment Management Company has committed $200m to Post Oak Energy’s debut fund. UTIMCO will be the fund’s only LP.
The Calgary, Canada-based firm is raising its seventh fund to target oil and gas exploration in Canada, a strategy the firm hopes will differentiate it from broader-based energy investors.
The AXA Group is performing a strategic review of its private equity funds of funds unit, AXA PE, which could result in it selling the business.
LPs should be paid back all their committed capital plus a preferred return before GPs start to collect carried interest, head of Cerberus Stephen Feinberg said at an industry conference.
AXA has hired Credit Suisse to explore a sale of its private equity arm, which could lead to a management buyout allowing the division's CEO, Dominique Senequier, to retain control.
Michael Langdon is the second senior private equity professional to leave the $41bn pension system in two months. Langdon will help Hermes GPE, a private equity and infrastructure investor, establish its Boston office.
The firm, which focuses on US power investments, expects to close its fourth fund in October.