Home Must Reads $1B PERS funds go into private equity

$1B PERS funds go into private equity

| Print |  Email
Must Reads
Thursday, May 02, 2013

The Oregon Investment Council has slowed its pace of investing in private partnerships, but committed nearly $1 billion from PERS.

On Wednesday, the council made a $300 million commitment to a $12 billion buyout and distressed debt fund being raised by Apollo Global Management. It committed up to $400 million into a fund being raised by Lone Star to invest in distressed debt and real estate assets. And it committed $250 million into a "tactical opportunities fund" being raised by the Blackstone Group to make opportunistic investments.

Oregon has history with all three firms. It has invested in two prior Apollo funds. One is showing promising results, while the other is underperforming its target, in part because it badly overpaid in its bubble-era buyout of the casino company Caesar's Entertainment. Apollo undertook that $31 billion deal in 2008 in partnership with a buyout fund managed by Texas Pacific Group. Oregon was an investor in the TPG's fund, too, so it has exposure to the deal from both sides.

Read more at OregonLive.com.

{biztweet}pers private equity{/biztweet}

 

More Articles

Car ignition recalls and lean product design

Contributed Blogs
Friday, April 11, 2014
04.11.14 thumb gm-gettyTOM COX | OB BLOGGER

The auto industry is starting to share more costs across manufacturers for complex and challenging design work, like new transmission design, and certain new engine technologies. What we’re not yet seeing is wholesale outsourcing of “unavoidable waste” components to specialist companies.


Read more...

Downtime with Ron Green

March 2014
Tuesday, February 25, 2014
BY JESSICA RIDGWAY

Ron Green became president and CEO of Oregon Pacific Bank in August 2013.


Read more...

The more they change, the more they stay the same

March 2014
Tuesday, February 25, 2014
100-best-collageBY BRANDON SAWYER

The 100 Best Companies get more creative with perks and more generous with benefits; employees seek empowering relations with management and coworkers.


Read more...

Revolution in print, pixels and passion

News
Tuesday, March 11, 2014
RyanFrankNewsBY MARK BLAINE | OB BLOGGER

The publisher of the Emerald Media Group moves on, leaving a cutting edge media group that depends on business acumen for its survival.


Read more...

The 2014 List: The Top 33 Large Companies to Work, For in Oregon

March 2014
Thursday, February 27, 2014

100best14logoWebOur 100 Best Companies project turned 21 this year, so pop open the Champagne. Our latest survey gives us plenty to cheer.

 


Read more...

Making faces

News
Thursday, February 20, 2014
02.20.14 Thumbnail ModelsBY VIVIAN MCINERNY | OB BLOGGER

As retailers consolidate and newspapers fold, the business of modeling shifts to ad agencies, apparel companies and new media.


Read more...

Spreading the wealth

March 2014
Tuesday, February 25, 2014
HiResBY PAIGE PARKER

A money management firm broadens its reach. 


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS