Saturday, 31 January 2015
Last updated 20 hours ago
Feb 15 2007 | 10:43am ET
The $2.4 billion Fresno (Calif.) County Employees Retirement System has been advised by its consultant, Wurts & Associates, to beef up its private equity portfolio, which it will begin doing next month.
In March, the system will start looking for a large-market buyout shop to manage approximately $15 million, intending to finalize the search in June. Then, it will start looking for a small-to-mid-market buyout shop to manage another $15 million.
Wurts made its recommendations to the board on Feb. 7. Fresno's current commitments to p.e. total $200 million across 11 funds, and it views 10 to 20 partnerships as an "optimal" number for the system.
Fresno will initially consider allocations to its existing general partners who are raising successor funds, including large-market consideration to the Blackstone Group. Other partnerships given first dibs include New Mountain Partners, Lone Star Funds and Landmark Partners.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…