DOCSLIB.ORG

Calstrs Private Equity Portfolio Performance

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

California State Teachers' Retirement System Private Equity Portfolio Performance As of March 31, 2020 CalSTRS Since Capital Capital Capital Inception Description VY Committed Contributed Distributed IRR* ACON Equity Partners 3.5, L.P. 2012 70,000,000 64,417,966 21,952,460 1.48 ACON Equity Partners IV, LP 2016 50,000,000 26,225,558 2,886,124 (9.20) Acon-Bastion Partners II, L.P. 2006 40,000,000 37,183,693 63,449,683 12.21 Advent Central & Eastern Europe IV LP 2008 98,527,600 78,087,390 48,559,263 (9.73) Advent Global Technology L.P. 2020 100,000,000 15,000,000 - (19.19) Advent International GPE IX, L.P. 2019 300,000,000 66,000,001 - (16.24) Advent International GPE VI LP 2008 271,014,851 271,014,851 509,613,730 15.45 Advent International GPE VIII-D L.P. 2016 150,000,000 139,050,001 - 2.65 Advent LatAm PE Fund VII SCSP 2020 150,000,000 - - 0.00 Affinity Asia Pacific Fund III, L.P. 2007 150,000,000 142,805,294 186,972,125 8.38 Affinity Asia Pacific Fund V (NO.2) L.P. 2018 200,000,000 39,546,604 132,987 (16.93) AG Capital Recovery Partners V, L.P. 2006 50,000,000 46,750,000 52,852,380 2.85 AG Capital Recovery Partners VI, L.P. 2008 100,000,000 100,000,000 142,315,064 7.42 AG Capital Recovery Partners VII, L.P. 2010 164,208,774 164,208,982 199,819,110 5.15 Alchemy Plan (Estrellita) L.P. 2002 259,509,125 259,515,793 303,967,690 3.56 Alchemy Special Opportunities Fund III 2014 54,558,857 48,134,080 5,715,068 (2.42) Alchemy Special Opportunities Fund IV L.P. 2019 84,214,307 8,890,368 - (64.60) AlpInvest C Fund, L.P. 2018 600,000,000 497,167,497 1,324,913 3.69 AlpInvest Co-Investment Fund (Onshore) VII, L.P. 2017 150,000,000 87,002,324 379,398 3.33 Alta Communications IX, L.P. 2003 40,000,000 38,000,000 29,422,492 (2.99) Alta V Limited Partnership 1992 20,000,000 20,000,000 45,540,989 24.53 Apax Europe VI - A, L.P. 2005 314,188,312 308,387,154 558,079,723 12.53 Apax Europe VII 2007 523,500,459 518,532,420 656,871,733 4.35 Apax IX USD L.P. 2017 300,000,000 277,224,978 7,888,808 15.14 Apax X USD L.P. 2020 250,000,000 - - 0.00 Apollo Investment Fund IX, L.P. 2019 300,000,000 55,738,266 559,413 (16.92) Apollo Investment Fund VI, L.P. 2006 250,000,000 239,549,952 399,272,363 8.63 Apollo Investment Fund VII, L.P. 2008 350,000,000 307,938,480 558,306,744 22.14 ARCH Venture Fund VI, L.P. 2004 30,000,000 30,005,018 25,770,514 1.11 Ares Capital Europe II (D), L.P. 2013 50,000,000 41,929,241 38,989,489 7.46 Ares Corporate Opportunities Fund IV, L.P. 2012 150,000,000 134,663,947 120,944,491 11.83 Ares Corporate Opportunities Fund V, L.P. 2017 300,000,000 258,431,107 32,161,914 0.31 Ares Euro Credit Strat Fund (C), L.P.-MA 2013 47,582,041 28,669,335 34,232,857 4.69 Arsenal Capital Partners IV 2016 83,000,000 76,748,506 34,404,979 14.65 Arsenal Capital Partners V, L.P. 2019 135,000,000 62,223,149 74,979 (11.77) Ascent Capital Holdings, LLC 2007 60,000,000 60,618,407 14,292,535 (9.60) ASF VII B L.P. 2015 250,000,000 145,344,778 27,276,199 11.01 ASF VIII B Co-Invest (C) L.P. 2019 250,000,000 25,000 - 0.00 ASF VIII B L.P. 2018 500,000,000 118,659,669 1,461 102.28 Asper Renewable Power Partners 2 A L.P. 2010 61,906,436 51,477,759 29,648,617 (3.50) Asper Renewable Power Partners L.P. 2006 60,766,346 59,375,843 46,772,548 (4.78) Atria Private Equity Fund III FC PR 2007 39,065,924 26,611,155 16,639,355 (7.00) Bain Capital Asia Fund II, LP 2012 75,000,000 58,703,347 74,086,938 19.24 Bain Capital Asia Fund III, L.P. 2016 125,000,000 108,750,000 43,582,775 5.43 Bain Capital Asia Fund, L.P. 2007 25,000,000 23,974,820 34,271,309 7.42 Bain Capital Fund IX, L.P. 2006 100,000,000 97,518,750 142,253,308 6.13 Bain Capital Fund X, LP 2008 400,000,000 391,980,374 584,480,795 9.19 Bain Capital IX Coinvestment Fund, LP 2006 50,000,000 49,400,000 81,017,194 9.26 Bain Capital X Coinvestment Fund, LP 2008 14,000,000 12,250,000 14,860,931 3.04 BC European Capital IX 2011 258,612,279 269,096,491 254,487,016 11.37 BC European Capital VIII, L.P. 2005 605,239,717 584,500,303 712,745,166 4.47 BC European Capital X-8 LP 2017 283,022,966 242,363,876 4,703,831 0.13 BC Partners VII, L.P. 2000 323,079,349 323,203,189 822,215,324 23.92 Blackstone - GSO Capital Solutions LP 2009 250,000,000 233,605,361 310,158,172 9.51 Blackstone Capital Partners IV, L.P. 2003 200,000,000 182,943,137 512,261,352 35.96 * The limited partnership record keeping, including the internal rate of return or IRR, is maintained internally by CalSTRS for each limited partnership. The CalSTRS’ IRR calculation method may differ from calculation methods used by the General Partner or other Limited Partners. Differences in IRR calculations can be affected by cash flow timing, the account treatment of carried interest, partnership management fees, advisory fees, organization fees, other partnership expenses, sale of distributed stock and valuations. Importantly, there is no industry-standardized method for valuation or reporting, which makes comparisons of these numbers difficult. Additionally, the purchase of secondary interests makes for unique comparison problems due to the specific pricing and timing characteristics of the transaction when contrasted with the Limited Partnership Investment. Until a partnership is liquidated, typically over 10 to 12 years, the IRR is only an interim estimated return. The IRR calculated for partnerships in the first three years of a partnership life are particularly not meaningful. The actual IRR performance of any limited partnership is not known until the final liquidation. Finally, please note, none of the information contained herein has been reviewed or approved by the General Partners of the Funds. 1 California State Teachers' Retirement System Private Equity Portfolio Performance As of March 31, 2020 CalSTRS Since Capital Capital Capital Inception Description VY Committed Contributed Distributed IRR* Blackstone Capital Partners V L.P. 2006 1,600,000,000 1,580,196,681 2,598,742,002 8.20 Blackstone Capital Partners VI, L.P. 2011 300,000,000 286,764,459 255,581,517 9.49 Blackstone Capital Partners VII L.P. 2016 450,000,000 386,321,123 40,583,544 8.79 Blackstone Capital Partners VIII L.P. 2020 750,000,000 - - 0.00 Blackstone Communications Partners I, LP 2000 250,000,000 250,293,431 310,940,617 6.51 Blackstone Core Equity Partners CA - L.P. 2017 500,000,000 398,093,348 43,045,008 9.95 Blackstone Core Equity Partners II LP 2020 425,000,000 - - 0.00 Blackstone Energy Partners II L.P. 2015 100,000,000 104,156,384 5,908,567 (24.15) Blackstone Energy Partners III L.P. 2020 250,000,000 7,641,159 - (4.97) Blackstone Life Sciences V LP 2020 145,000,000 - - 0.00 Blackstone Tactical Opportunities Fund - S L.P. 2017 250,000,000 226,141,642 104,283,888 6.40 Blackstone Tactical Opportunities Fund II-S (Surge) L.P. 2019 125,000,000 40,164,783 - 1.54 Blackstone Tactical Opportunities Fund II-S L.P. 2018 375,000,000 83,598,095 1,253,386 (28.41) Blue Run Ventures IV, L.P. 2008 23,595,506 23,595,505 50,814,878 25.54 Blue Run Ventures V, LP 2014 19,005,882 18,055,588 - (6.30) Blue Run Ventures, L.P. 2005 31,415,730 31,181,573 41,273,872 5.19 BRV Opportunities Fund, L.P. 2015 2,710,843 2,548,192 282,015 1.51 BRV VI, L.P. 2017 19,156,626 8,620,481 - 4.68 CalSTRS California Impact Fund, LLC 2003 75,000,000 63,363,119 56,691,279 (0.66) CalSTRS Lower Middle Market Fund III, LLC 2007 200,000,000 180,258,012 224,934,208 7.97 CalSTRS Lower Middle Market Fund IV, LLC 2011 200,000,000 173,319,362 172,197,538 13.56 CalSTRS Lower Middle Market Fund V, L.P. 2014 100,000,000 81,520,394 25,820,487 13.27 CalSTRS Lower Middle Market Fund VI, L.P. 2018 250,000,000 41,250,000 - (19.17) CalSTRS New&Next Gen. Manager Fund II 2008 200,000,000 134,127,977 125,594,063 8.99 CalSTRS New&Next Gen.
Recommended publications
  • PIMCO All Asset Portfolio

    PIMCO All Asset Portfolio

    PIMCO All Asset Portfolio SUMMARY PROSPECTUS Underlying PIMCO Funds and is separate from the management fees paid to Pacific Investment Management Company LLC (“PIMCO”). Excluding interest expense of the April 30, 2021 Underlying PIMCO Funds,Total Annual Portfolio Operating Expenses After Fee Waiver and/or Expense Reimbursement are 1.215% for Administrative Class shares. Share Class: Administrative Class 2 Total Annual Portfolio Operating Expenses do not match the Ratio of Expenses to Average Net Assets Excluding Waivers of the Portfolio, as set forth in the Financial As permitted by regulations adopted by the Securities and Exchange Commission, you Highlights table of the Portfolio’s prospectus, because the Ratio of Expenses to may not be receiving paper copies of the Portfolio's shareholder reports from the Average Net Assets Excluding Waivers reflects the operating expenses of the Portfolio insurance company that offers your contract unless you specifically request paper copies and does not include Acquired Fund Fees and Expenses. from the insurance company or from your financial intermediary Instead, the shareholder 3 PIMCO has contractually agreed, through May 1, 2022, to reduce its advisory fee to reports will be made available on a website, and the insurance company will notify you by the extent that the Underlying PIMCO Fund Expenses attributable to advisory and mail each time a report is posted and provide you with a website link to access the report. supervisory and administrative fees exceed 0.64% of the total assets invested
  • Review Risk Management Institue

    Review Risk Management Institue

    NOV 2016 · VOL 3 PRIVATE EQUITY GOSS INSTITUTE OF RESEARCH MANAGEMENT LIMITED NATIONAL UNIVERSITY OF SINGAPORE REVIEW RISK MANAGEMENT INSTITUE HAITAO JIN Qianhai Fund of Fund, LLP Exploring the Business Model of China’s Private Equity/Venture Capital (PE/VC) Fund of Funds (FOF) Investments KATAHIRA MASAKI Eastasia Investment (International) Limited New Findings on Japan’s Capital Market: A Study on Japan Post Group’s Successful Transformation through Capital Market WEI CUI, MIN DAI, AND STEVEN KOU Risk Management Institute’s New Research Initiative A Pricing and Risk Management System for Chinese Bonds PRIVATE EQUITY REVIEW PRIVATE EQUITY REVIEW CONTENTS EDITORIAL BOARD Darrell Duffie, Stanford University MESSAGE FROM THE EDITORS Quanjian Gao (Editor-in-Chief), GOSS Institute of Research COVER ARTICLE Management Ltd. 01 Exploring the Business Model of Jeff Hong (Co-Editor), China’s Private Equity/Venture Capital (PE/VC) City University of Hong Kong Fund of Funds (FOF) Investments Li Jin, Haitao Jin Oxford University Steven Kou (Co-Editor), ACADEMIC INSIGHTS National University of Singapore 10 New Findings on Japan’s Capital Market: Neng Wang, A Study on Japan Post Group’s Successful Columbia University Transformation Through Capital Market Houmin Yan, Katahira Masaki City University of Hong Kong Lin Zhou, CASE STUDY Shanghai Jiao Tong University 22 Will Private Equity (PE) Firms Continue to Invest in China’s Auto Consumption and Sales Industry? Yankun Hou ADVISORY BOARD 32 Quantitative Methods for Venture Capital Investment Weijian Shan,
  • Leadership Newsletter Winter 2020 / 2021

    Leadership Newsletter Winter 2020 / 2021

    T���������, M���� ��� T����������������� Leadership Newsletter Winter 2020 / 2021 GTCR Firm Update Since the firm’s inception in 1980, GTCR has Technology, Media and Tele- partnered with management teams in more communications than 200 investments to build and transform growth businesses. Over the last twenty years alone, GTCR has invested over $16 billion in approximately 100 platform acquisitions, 30+ 95+ PLATFORMS ADD-ONS including more than 65 companies that have been sold for aggregate enterprise value of over $ $50 billion and another 14 companies that have 25B+ been taken public with aggregate enterprise value PURCHASE of more than $34 billion. In November 2020, PRICE we closed GTCR Fund XIII, the firm’s largest fund to date, with $7.5 billion of limited partner capital commitments. This fund follows GTCR Fund Acquisition Activity Since 2000 XII, which we raised in 2017, with $5.25 billion As of January 15, 2021* of limited partner capital commitments. GTCR currently has 25 active portfolio companies; ten of these companies are within the Technology, Media and Telecommunications (“TMT”) industry. Page 1 / Continues on next page Technology, Media and Telecommunications Group Update Since 2000, GTCR has completed over 30 new platform investments and over 95 add-on acquisitions within the TMT industry, for a total of over 125 transactions with a combined purchase price of over $25 billion. During just the past year, we have realized several of these investments, selling three businesses and completing the partial sale of two additional companies, for a combined enterprise value of over $9 billion. Our TMT franchise includes ten active portfolio companies and one management start-up, which together have completed nearly 30 add-on acquisitions under our ownership, representing approximately $3 billion of GTCR invested capital.
  • Not Mitt Romney's Bain Capital: Boston Investment Firm Home To

    Not Mitt Romney's Bain Capital: Boston Investment Firm Home To

    Not Mitt Romney’s Bain Capital: Boston investment firm home to diverse political views - Business - The Boston Globe Interested in documentaries? Click here to view our latest free screening. TEXT SIZE MANAGE ACCOUNT LOG OUT NEWS BusinessMETRO MARKETS TECHNOLOGY ARTS BUSINESS BETABOSTON SPORTS OPINION Red Sox Live 3 8 POLITICS LIFESTYLE Final MAGAZINE INSIDERS AtTODAY'S Bain, PAPER a broad range of viewpoints is the new reality E-MAIL FACEBOOK TWITTER GOOGLE+ LINKEDIN 57 http://www.bostonglobe.com/...romney-bain-capital-boston-investment-firm-home-diverse-political-views/gAGQyqkSROIoVubvsCXJxM/story.html[5/23/2015 10:37:45 PM] Not Mitt Romney’s Bain Capital: Boston investment firm home to diverse political views - Business - The Boston Globe SUZANNE KREITER/GLOBE STAFF Former Governor Deval Patrick, a Democrat, is joining Bain Capital — an investment firm founded by his predecessor on Beacon Hill, Republican Mitt Romney. By Beth Healy and Matt Rocheleau GLOBE STAFF APRIL 16, 2015 There are two chestnuts that drive Bain Capital partners crazy: First, the notion that they are ruthless capitalists who enjoy firing people. Second, that they are all card-carrying Republicans. Fifteen long years since Mitt Romney left the Boston investment firm he founded, those old impressions still rankle. Enter Deval Patrick, former Massachusetts governor and a Democrat closely aligned with President Obama, named this week a Bain managing director who will focus on “social impact” investing. The newest Bain employee — and the public spirit implied by his new job — would seem to contradict the firm’s old image. But current and former partners, and close observers of the firm say Bain Capital is more of a big tent than many might think.
  • PE Pulse Quarterly Insights and Intelligence on PE Trends February 2020

    PE Pulse Quarterly Insights and Intelligence on PE Trends February 2020

    PE Pulse Quarterly insights and intelligence on PE trends February 2020 This document is interactive i. ii. iii. iv. v. Contents The PE Pulse has been designed to help you remain current on capital market trends. It captures key insights from subject-matter professionals across EY member firms and distills this intelligence into a succinct and user-friendly publication. The PE Pulse provides perspectives on both recent developments and the longer-term outlook for private equity (PE) fundraising, acquisitions and exits, as well as trends in private credit and infrastructure. Please feel free to reach out to any of the subject matter contacts listed on page 25 of this document if you wish to discuss any of the topics covered. PE to see continued strength in 2020 as firms seek clear air for deployment We expect overall PE activity to remain strong in 2020. From a deal perspective, deployment remains challenging. Geopolitical developments will continue to shape the 2019 was a strong year from a fundraising perspective, Currently, competition for deals is pushing multiples dispersion of activity. In the US, for example, activity has albeit slightly off the high-water mark of 2017. While well above the top of the last cycle. In the US, purchase continued largely unabated, driven by a strong macro valuations and the challenges in deploying capital multiples have reached 11.5x (versus 9.7x in 2007), and backdrop and accommodative lending markets. PE firms continue to raise concerns among some LPs, any 11.1x in Europe (versus 10.3x in 2007). As a result, firms announced deals valued at US$249b, up 3% from last hesitation in committing fresh capital is being offset to are seeking “clearer air” by moving downmarket into the year, making it among the most active years since the a degree by entirely new investors that are moving into growth capital space, where growth rates are higher and global financial crisis (GFC).
  • Billing Code: 6750-01S

    Billing Code: 6750-01S

    This document is scheduled to be published in the Federal Register on 11/28/2016 and available online at https://federalregister.gov/d/2016-28472, and on FDsys.gov BILLING CODE: 6750-01S FEDERAL TRADE COMMISSION Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification Rules Section 7A of the Clayton Act, 15 U.S.C. 18a, as added by Title II of the Hart-Scott- Rodino Antitrust Improvements Act of 1976, requires persons contemplating certain mergers or acquisitions to give the Federal Trade Commission and the Assistant Attorney General advance notice and to wait designated periods before consummation of such plans. Section 7A(b)(2) of the Act permits the agencies, in individual cases, to terminate this waiting period prior to its expiration and requires that notice of this action be published in the Federal Register. The following transactions were granted early termination -- on the dates indicated -- of the waiting period provided by law and the premerger notification rules. The listing for each transaction includes the transaction number and the parties to the transaction. The grants were made by the Federal Trade Commission and the Assistant Attorney General for the Antitrust Division of the Department of Justice. Neither agency intends to take any action with respect to these proposed acquisitions during the applicable waiting period. Early Terminations Granted October 1, 2016 thru October 31, 2016 10/03/2016 20161722 G Hainan Cihang Charitable Foundation ; Blackstone Capital Partners (Cayman II) VI L.P. ; Hainan Cihang Charitable Foundation 20161727 G Wellforce Inc. ; Hallmark Health Corporation ; Wellforce Inc.
  • Form ADV Part 2A – Disclosure Brochure

    Form ADV Part 2A – Disclosure Brochure

    Prosperity Advisory Group LLC Form ADV Part 2A – Disclosure Brochure Effective: October 12, 2020 This Form ADV Part 2A (“Disclosure Brochure”) provides information about the qualifications and business practices of Prosperity Advisory Group LLC (“PAG” or the “Advisor”). If you have any questions about the content of this Disclosure Brochure, please contact the Advisor at (585) 381-5900. PAG is a Registered Investment Advisor with the U.S. Securities and Exchange Commission (“SEC”). The information in this Disclosure Brochure has not been approved or verified by the SEC or by any state securities authority. Registration of an investment advisor does not imply any specific level of skill or training. This Disclosure Brochure provides information about PAG to assist you in determining whether to retain the Advisor. Additional information about PAG and its Advisory Persons is available on the SEC’s website at www.adviserinfo.sec.gov by searching with the Advisor’s firm name or CRD# 310720. Prosperity Advisory Group LLC 50 Square Drive, Suite 220, Victor, NY 14564 Phone: (585) 381-5900 * Fax: (585) 381-0478 https://prosperityadv.com Item 2 – Material Changes Form ADV 2 is divided into two parts: Part 2A (the "Disclosure Brochure") and Part 2B (the "Brochure Supplement"). The Disclosure Brochure provides information about a variety of topics relating to an Advisor’s business practices and conflicts of interest. The Brochure Supplement provides information about the Advisory Persons of PAG. PAG believes that communication and transparency are the foundation of its relationship with Clients and will continually strive to provide you with complete and accurate information at all times.
  • Private Debt in Asia: the Next Frontier?

    Private Debt in Asia: the Next Frontier?

    PRIVATE DEBT IN ASIA: THE NEXT FRONTIER? PRIVATE DEBT IN ASIA: THE NEXT FRONTIER? We take a look at the fund managers and investors turning to opportunities in Asia, analyzing funds closed and currently in market, as well as the investors targeting the region. nstitutional investors in 2018 are have seen increased fundraising success in higher than in 2016. While still dwarfed Iincreasing their exposure to private recent years. by the North America and Europe, Asia- debt strategies at a higher rate than focused fundraising has carved out a ever before, with many looking to both 2017 was a strong year for Asia-focused significant niche in the global private debt diversify their private debt portfolios and private debt fundraising, with 15 funds market. find less competed opportunities. Beyond reaching a final close, raising an aggregate the mature and competitive private debt $6.4bn in capital. This is the second highest Sixty percent of Asia-focused funds closed markets in North America and Europe, amount of capital raised targeting the in 2017 met or exceeded their initial target credit markets in Asia offer a relatively region to date and resulted in an average size including SSG Capital Partners IV, the untapped reserve of opportunity, and with fund size of $427mn. Asia-focused funds second largest Asia-focused fund to close the recent increase in investor interest accounted for 9% of all private debt funds last year, securing an aggregate $1.7bn, in this area, private debt fund managers closed in 2017, three-percentage points 26% more than its initial target.
  • Investor Profile Report GEORGE R

    Investor Profile Report GEORGE R

    Investor Profile Report PRESENTED BY GEORGE R. BROWN CONVENTION CENTER March 9-10, 2016 Glossary Business Description: All investments by industry: A description of the firm’s primary type, Graph of transactions by industry, represented in preferences and location. PitchBook is an the PitchBook Platform. This breakdown is based impartial information provider on primary industries of the portfolio/serviced and will remove promotional language. companies. Assets under management (AUM): Specific to Lender Profiles The amount of money that the investor manages Total debt financings: for clients based on number of currently-managed The number of entities identified by PitchBook that funds. received debt financing from the firm in the last five years. Active private equity investments: The number of active companies in the investor’s Target debt financing amount: current portfolio identified by PitchBook in the Preferred amount of debt typically provided by last five years. This includes add-on transactions. the firm in a transaction. Total private equity investments: Specific to Service Provider Profiles The total number of companies in the investor’s Total transactions: portfolio, identified by PitchBook in the last five The number of transactions identified by years. This includes add-on transactions. PitchBook that the firm has provided service on in the last five years. Target EBITDA: Preferred EDITDA range targeted for investment. Total companies serviced: The number of unique companies the firm has Target revenue: provided service to in the last five years, identified Preferred revenue range targeted for investment. by PitchBook. Preferred investment amount: Total investors serviced: Preferred investment amount range that the firm The number of unique investors identified by typically invests in PitchBook that the firm has provided service to in a transaction.
  • Francesco Pascalizi Appointed Co-Head of the Milan Office Alongside Fabrizio Carretti

    Francesco Pascalizi Appointed Co-Head of the Milan Office Alongside Fabrizio Carretti

    PERMIRA STRENGTHENS ITS PRESENCE IN ITALY: FRANCESCO PASCALIZI APPOINTED CO-HEAD OF THE MILAN OFFICE ALONGSIDE FABRIZIO CARRETTI London/Milan, 24 October 2019 –Francesco Pascalizi has been appointed co-head of Permira in Italy and joins Fabrizio Carretti in the leadership of the Milan office. Francesco Pascalizi has worked closely with Fabrizio Carretti for more than 12 years and has contributed significantly to developing Permira’s business in the Italian market, having completed several investments in the industrial and consumer space. He currently serves on the Board of Arcaplanet and Gruppo La Piadineria, acquired by the Permira Funds respectively in 2016 and 2017. Fabrizio Carretti commented: “I am really delighted to have Francesco join the leadership of the Milan team – I am sure that his appointment will further strengthen our position in the Italian market”. Francesco Pascalizi added: “I am very pleased to join Fabrizio and look forward to continue developing Permira’s franchise in Italy, a country to which we are strongly committed”. Francesco Pascalizi joined Permira in 2007 and he is a member of the Industrial Tech & Services team. He has worked on a number of transactions including La Piadineria, Arcaplanet, eDreams OdigeO, and Marazzi Group. Prior to joining Permira, Francesco worked in the private equity group at Bain Capital and before that he was part of M&A team at UBS in both Milan and London. He has a degree in Business Administration from Bocconi University, Italy. ABOUT PERMIRA Permira is a global investment firm. Founded in 1985, the firm advises funds with total committed capital of approximately €44bn (US$48bn) and makes long-term investments, including majority control investments as well as strategic minority investments, in companies with the objective of transforming their performance and driving sustainable growth.
  • A Listing of PSERS' Investment Managers, Advisors, and Partnerships

    A Listing of PSERS' Investment Managers, Advisors, and Partnerships

    Pennsylvania Public School Employees’ Retirement System Roster of Investment Managers, Advisors, and Consultants As of March 31, 2015 List of PSERS’ Internally Managed Investment Portfolios • Bloomberg Commodity Index Overlay • Gold Fund • LIBOR-Plus Short-Term Investment Pool • MSCI All Country World Index ex. US • MSCI Emerging Markets Equity Index • Risk Parity • Premium Assistance • Private Debt Internal Program • Private Equity Internal Program • Real Estate Internal Program • S&P 400 Index • S&P 500 Index • S&P 600 Index • Short-Term Investment Pool • Treasury Inflation Protection Securities • U.S. Core Plus Fixed Income • U.S. Long Term Treasuries List of PSERS’ External Investment Managers, Advisors, and Consultants Absolute Return Managers • Aeolus Capital Management Ltd. • AllianceBernstein, LP • Apollo Aviation Holdings Limited • Black River Asset Management, LLC • BlackRock Financial Management, Inc. • Brevan Howard Asset Management, LLP • Bridgewater Associates, LP • Brigade Capital Management • Capula Investment Management, LLP • Caspian Capital, LP • Ellis Lake Capital, LLC • Nephila Capital, Ltd. • Oceanwood Capital Management, Ltd. • Pacific Investment Management Company • Perry Capital, LLC U.S. Equity Managers • AH Lisanti Capital Growth, LLC Pennsylvania Public School Employees’ Retirement System Page 1 Publicly-Traded Real Estate Securities Advisors • Security Capital Research & Management, Inc. Non-U.S. Equity Managers • Acadian Asset Management, LLC • Baillie Gifford Overseas Ltd. • BlackRock Financial Management, Inc. • Marathon Asset Management Limited • Oberweis Asset Management, Inc. • QS Batterymarch Financial Management, Inc. • Pyramis Global Advisors • Wasatch Advisors, Inc. Commodity Managers • Black River Asset Management, LLC • Credit Suisse Asset Management, LLC • Gresham Investment Management, LLC • Pacific Investment Management Company • Wellington Management Company, LLP Global Fixed Income Managers U.S. Core Plus Fixed Income Managers • BlackRock Financial Management, Inc.
  • Annual Report

    Annual Report

    Building Long-term Wealth by Investing in Private Companies Annual Report and Accounts 12 Months to 31 January 2021 Our Purpose HarbourVest Global Private Equity (“HVPE” or the “Company”) exists to provide easy access to a diversified global portfolio of high-quality private companies by investing in HarbourVest-managed funds, through which we help support innovation and growth in a responsible manner, creating value for all our stakeholders. Investment Objective The Company’s investment objective is to generate superior shareholder returns through long-term capital appreciation by investing primarily in a diversified portfolio of private markets investments. Our Purpose in Detail Focus and Approach Investment Manager Investment into private companies requires Our Investment Manager, HarbourVest Partners,1 experience, skill, and expertise. Our focus is on is an experienced and trusted global private building a comprehensive global portfolio of the markets asset manager. HVPE, through its highest-quality investments, in a proactive yet investments in HarbourVest funds, helps to measured way, with the strength of our balance support innovation and growth in the global sheet underpinning everything we do. economy whilst seeking to promote improvement in environmental, social, Our multi-layered investment approach creates and governance (“ESG”) standards. diversification, helping to spread risk, and is fundamental to our aim of creating a portfolio that no individual investor can replicate. The Result Company Overview We connect the everyday investor with a broad HarbourVest Global Private Equity is a Guernsey base of private markets experts. The result is incorporated, London listed, FTSE 250 Investment a distinct single access point to HarbourVest Company with assets of $2.9 billion and a market Partners, and a prudently managed global private capitalisation of £1.5 billion as at 31 January 2021 companies portfolio designed to navigate (tickers: HVPE (£)/HVPD ($)).