Thursday, 18 September 2014
Last updated 3 hours ago
Dec 20 2007 | 1:02pm ET
The $11 billion Los Angeles City Employees Retirement System this month committed $10 million to a pair of $300 million buyout funds.
According to minutes from the system’s meeting on Dec. 11, LACERS is allocating $5 million to the Relativity Fund, a women-owned, first-time fund. The New York-based p.e. fund is looking to raise up to $300 million in invest in growth and distressed companies within North America. The general partners, led by Leslie Armitage, formerly with the Carlyle Group, and Joyce Miller, formerly with Cerberus, are committing $3 million to the fund.
In addition, LACERS is committing $5 million to another New York-based p.e. fund, Spire Capital Partners II, which is raising $300 million to invest in the business services, information services, media and communication sectors. The general partner of the fund will commit at least $6 million to the new offering.
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.