Sunday, 21 December 2014
Last updated 6 hours ago
Nov 14 2007 | 10:07am ET
The $16 billion State Universities Retirement System of Illinois is committing $100 million to the Adams Street Partners 2008 Global Offering Program, a private equity fund of funds.
The Global Offering will be structured to combine three separate private equity funds, the U.S. fund, the non-U.S. fund and the direct fund into one offering, according to an internal memo. The new vehicle will invest in a portfolio of private equity partnerships diversified by time, manager and subclass such as venture capital, buyout, mezzanine/subordinated debt, restructuring/distressed debt and special situations. Typically, commitments will be invested over a three to four year period.
Over the years, SURS has invested over $1 billion in several Adams Street Partners funds. Of this amount, $920 million has been distributed back to SURS and as of March 31 the market value of its investments in Adams Street Partners was $500 million.
“Investment performance with Adams Street Partners has been excellent for SURS. The inception-to-date internal rate of return, net of fees, for the relationship is 27.5%,” according to the memo.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.