Tuesday, 23 September 2014
Last updated 4 hours ago
Jan 31 2013 | 11:12am ET
The Texas Teachers' Retirement System made a huge private-equity buy in the fourth quarter, deploying more than $1.1 billion.
The beneficiaries of the $112 billion pension's largesse include firms both familiar and new. A substantial chunk went to Kohlberg Kravis Roberts' Special Situations Fund as part of a $3 billion special account set up two years ago. KKR got $200 million in new money, Buyouts magazine reports.
Another firm with a similar arrangement, Apollo Global Management, also received new commitments, as did the Blackstone Group's GSO Capital Solutions Fund II, which received $200 million.
Silver Lake Partners and Wayzata Investment Partners each received $150 million. Energy Capital Partners received $100 million.
Texas Teachers has a 12% private equity target.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.