Silver Lake amasses $20bn for largest-ever tech-focused buyout fund Thursday, January 14, 2021
Laxman Pai, Opalesque Asia:
Silver Lake has closed buyout fund Silver Lake Partners VI at $20 billion, reaching its hard cap, as the technology-focused private equity firm looks to focus on large-scale investments.
The raised capital includes roughly $500 million from the general partner. The fund will target global large-cap technology firms. We are very pleased with the response we have received across the board from limited partners, especially given the current environment, which we believe validates Silver Lake s strategic discipline, deep technology expertise, and intensive focus on growth, said Susannah Carrier, Managing Director and global head of fundraising and investor relations. We are grateful to our returning and new investors for entrusting Silver Lake with their capital as we continue to cultivate a culture of excellence and an alignment of interests to generat
Los Angeles F&P to issue call for private credit, bank loans
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Los Angeles Fire & Police Pensions board on Thursday voted to launch two RFPs, one for a private credit fund manager and another for a syndicated bank loan portfolio manager, said Ray Ciranna, general manager, in an email.
Officials at the $27 billion pension fund are conducting the search as a result of a new 2% private credit allocation adopted in June.
Since it can take at least two or three years for a private credit fund portfolio to reach its target allocation, staff recommended the plan create a leveraged syndicated bank loan portfolio to quickly provide exposure to private credit, generate income and eventually fund the private credit fund portfolio, according to a memo to the board.
Los Angeles Fire & Police CIO to retire in 2021
Tom Lopez
Tom Lopez, longstanding CIO of the $27 billion of the Los Angeles Fire & Police Pensions, is retiring sometime next year, General Manager Ray Ciranna said in an email.
Mr. Lopez has been CIO since 1980. During his tenure the pension plan grew from $400 million in assets with four managers investing in stocks and bonds to 40 managers investing in more than a dozen asset classes. The LAFPP commissioners wholeheartedly thank Tom Lopez for his years of service. His steady hand and wise advice are a pillar to the success of this fund, said board President Brian Pendleton in a written statement.