Fresno To Beef Up P.E. Portfolio

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.


In Depth

Q&A: High Conviction, Low Correlation

Oct 30 2014 | 7:35am ET

Acadian Asset Management's numbers are big: over $70 billion in assets under management...

Lifestyle

Ex-Hedgie Steyer Gives $56M To Climate Action Super PAC

Oct 28 2014 | 9:23am ET

Retired Farallon Capital founder Tom Steyer has poured almost $56 million into his...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Demeter: Family affair

David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.