Primarily focused on buying publicly-traded debt and equity securities of infrastructure issuers worldwide, the fund is also authorised to buy up to 20% the same from private issuers in the infrastructure sector.
The $184bn pension, struggling with the denominator effect, committed $750m to Blackstone’s previous buyout vehicle. CalPERS documents confirmed rumours that Blackstone has lowered its fund target to between $15bn and $20bn.
The $147bn pension has responded to the denominator effect by increasing the amount it is allowed to invest in private equity to 15% of total assets. CalSTRS has similarly bumped its real estate allocation.
Economic turbulence is throwing up opportunities for emerging market-focused private equity funds to make investments at favourable prices, but capital-constrained LPs are urging caution.
Archer’s first offer to de-list MYOB in January was rejected as too low at A$1.90 per share; the current offer is for A$1.15 per share.
Citing 'exceptional client demand' for its initial foray into infrastructure, the institutional asset manager may seek to raise a second fund in 2009. The UBS International Infrastructure Fund has already made three investments since last year.
The UK and the Netherlands have both reacted to public criticism of the private equity industry by passing new tax legislation
Goldman Sachs has invited 94 executives to become partners including the co-heads of its private equity group.
The investment firm has acquired a majority stake in the Dubai-based business and intends to expand it regionally.
The Canadian pension has set aside an additional C$1.4bn to invest with opportunistic fund managers, and directly, targeting US and UK distressed real estate.