Friday, 29 August 2014
Last updated 14 hours ago
Jun 23 2008 | 12:38pm ET
Constitution Capital Partners, a new private equity firm focused on North American buyouts, has raised $600 million from the Universities Superannuation Scheme to invest in North American middle market p.e. funds and direct co-investments.
USS, which has also committed $150 million to a warehouse line, will also take a 10% ownership stake in CCP.
Boston-based CCP will pursue a value-oriented approach generally focusing on North American p.e. funds with $200 million to $2.5 billion in assets under management, and on making direct investments of $10 million to $45 million in companies with enterprise values between $100 million and $1 billion.
Mike Powell, head of alternative assets at USS, said the fund is looking for the most effective way to increase its investments in North American middle market private equity.
“We are confident that the impressive credentials of CCP, and their approach of combining investing in the funds of the top private equity firms with direct investments alongside those firms, make CCP the best partner for USS to succeed in North American middle market investing,” he said.
USS is the second largest pension fund in the U.K. with more than £30 billion (US$46 billion) in assets. It currently has approximately 5% of its assets allocated to alternative investments, with a target to grow this allocation to 20% over the medium term.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...