Friday, 21 November 2014
Last updated 15 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.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
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