Arkansas Teachers’ Commits up to $135M to PE/VC; Recommends Up to $85M More
The Arkansas Teacher Retirement System committed up to $135 million to a trio of private markets funds, according to the agenda for its April 15 board meeting. It also considered recommendations to commit up to $85 more to a real estate and a buyout fund. The fresh commitments went to tech fund Clearlake Capital Partners VIII LP (up to $35 million); Franklin Park Co-investment Fund VI LP (up to $60 million); and fund-of-funds Franklin Park Venture Capital Fund XV LP (up to $40 million). It also considered approving commitments of up to $50 million to Carlyle Realty Partners X LP; and up to $35 million to growth equity fund Enlightenment Capital Solutions Fund V LP.
CalPERS Launches Program to Train New Generation of Investment Officers
The California Public Employees’ Retirement System last week unveiled a joint-program with Stanford University School of Engineering to help train the next generation of investment officers, according to a press release. Participants in the “Long-Term Investing Fellowship Program” will rotate between the two organizations over the course of a year; the program, which involves learning, research and investing, includes an “intensive apprenticeship” at CalPERS.
Three Sun Capital Executives Spin Out to Form Their Own Buyout Firm
Three executives of Boca Raton, Florida-based turnaround firm Sun Capital Partners have left to launch buyout firm Palm Peak Capital LLC with the blessing of Sun Capital’s top brass, according to a press release. The three are Daniel Florian, previously senior managing director and partner at Sun Capital Partners; M. Steven Liff, previously senior partner and head of North American private equity; and Jeremy Stone, previously senior managing director and partner. Palm Peak Capital plans to invest in North American industrial manufacturing and business services companies
Money Manager Providing PE Access to Wealthy Investors Raises Debut
New York City-based Bridge, which provides non-institutional investors with access to private funds, raises at least $775,000 for its Bridge Buyout AP Fund I LP, according to a regulatory filing. The firm has raised at least $500,000 for its Bridge Buyout Offshore Feeder Fund. Co-founders Ayo Ekhator and Alex Goodwin, former associates at Blackstone Group and Leonard Green & Partners, respectively, started Bridge in 2023.
Salt Lake City Firm Seeks $100 million for Debut Growth Equit/Buyout Fund
Salt Lake City-based growth and buyout investor Jordanelle Capital raises at least $25 million of a targeted $100 million for its Jordanelle Fund I LP, according to a regulatory filing. Managing Partner Matthew Day founded the firm in 2022 after serving as a partner at Peterson Partners. Jordanelle Capital invests in recycling, specialty and industrial minerals, sustainable agriculture and industrial manufacturing.
Mid-Market Lender Taps New Managing Director to Raise Institutional Money
Kenneth Fahrman joins the New York City office of mid-market lender Monroe Capital as managing director-head of North American business-institutional funds. According to his Linkedin profile, Fahrman most recently served as a managing director at Cerberus Capital Management.
Hamilton Lane Hires New Managing Director-Global Head of Consultant Relations
Jeff Merschel joins Conshohocken, Pennsylvania-based money manager Hamilton Lane as managing director-global head of consultant relations, according to his Linkedin profile. Merschel most recently served as managing director at Creative Planning.