$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

Fighting Fire With Fire

May 2015
Friday, April 24, 2015
BY BEN DEJARNETTE | INVESTIGATEWEST

Timber companies and environmental groups take a stab at collaboration to boost logging and restoration in Oregon fires.


Read more...

Foundations perspective

May 2015
Monday, April 27, 2015
BY KIM MOORE

A conversation with Martha Richards, executive director of the James F. & Marion L. Miller Foundation.


Read more...

Energy Stream

May 2015
Monday, April 27, 2015
BY LINDA BAKER

Oregon already ranks as the nation’s second largest generator of hydroelectric power. (Washington is No. 1). Now an elegant new installation in Portland is putting an unconventional, sharing economy twist on this age-old water-energy pairing. The new system, launched this winter, uses the flow of water inside city water pipes to spin four turbines that produce electricity for Portland General Electric customers. 


Read more...

Much ado about data-driven organizations, for good reason

Contributed Blogs
Monday, April 13, 2015
bigdatathumbBY GRANT KIRBY | OP-ED CONTRIBUTOR

The mega-shift from technology-driven to data-driven organizations raises questions about Oregon’s workforce preparedness.


Read more...

Photos from the 100 Best Companies to Work For in Oregon awards celebration

The Latest
Friday, February 27, 2015
IMG 9975cneditPHOTOS BY JASON E. KAPLAN

Images from the 2015 celebration of Oregon's great workplaces.


Read more...

Footloose

April 2015
Friday, March 27, 2015
BY LINDA BAKER

Founded 12 years ago, Keen Inc. likes to push the envelope, starting with the debut of the “Newport” closed toe sandal in 2003. Since then, the company has opened a factory on Swan Island and a sleek new headquarters in the Pearl District. The brand’s newest offering, UNEEK, is a sandal made from two woven cords and not much more.


Read more...

5 questions for inDinero CEO Jessica Mah

The Latest
Tuesday, March 31, 2015
jessicathumbBY JACOB PALMER | DIGITAL NEWS EDITOR

inDinero, a business that manages back-office accounting for startups and smaller companies, recently announced it would relocate its headquarters from San Francisco to Portland. We talked to CEO Jessica Mah about what drew her to Portland and how she plans to disrupt the traditional CPA model.


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