Christopher Witkowsky

The $122.5bn pension system has committed to Ares Management, Warburg Pincus, RCP Advisors, AXA PE and Crescent Capital as it works to deploy $6bn over the next three years.

Goldman Sachs, AlpInvest and Landmark Partners are backing the financial separation of Ridgemont Equity Partners from Bank of America as the firm raises its debut fund as a fully independent firm.

The California Public Employees’ Retirement System’s Vista portfolio provides a stark example of the struggles LPs with mature portfolios have in managing out legacy funds.

Daniel Meade was involved in fundraising for Eaton Partners illiquid strategies, including private equity, real estate and real assets.

The bank’s Strategic Partners team sweetened terms on its fifth secondaries fund, including not only committed capital, but fees and expenses that must be paid back to LPs, plus an 8% return, before the GP collects carried interest.

The bank’s Strategic Partners group has closed its fifth secondaries fund at a time of intense activity on the market from banks and public pensions selling chunks of their private equity holdings.

The sovereign wealth fund is using the secondary market for its first-ever intermediated sale of private equity stakes as it works to trim down the size of its portfolio. UBS is running the process.

The city’s pension system has put an initial offering of about $750m-worth of LP stakes on the secondary market, kick-starting what could be a very busy year for private equity secondaries.

The firm’s fifth global secondaries fund could collect at least half of its $750m target by March, giving Adams Street hefty buying power in what is expected to be an intense deal environment during the first two quarters.

The private equity-focused investment bank has made three promotions in London and Dallas.