US - The Blackstone Group has closed its latest global private equity fund, Blackstone Capital Partners V (BCP V) at US$21.7bn.
Investors in the portfolio reportedly include the $170.4bn California State Teachers’ Retirement System (CalSTRS) and the Arizona Public Safety Personnel Retirement System.
Blackstone Group said that like its predecessor funds, BCP V would be invested across a broad range of sectors and geographical locations.
Blackstone’s private equity business currently has investments in 49 portfolio companies with combined annual revenues in excess of $90bn and employs 500,000 people around the world.
In a separate development, Global Pensions recently reported that pension funds investing in private equity were reviewing their allocation levels.
The US$37.9bn Colorado Public Employees’ Retirement Association (COPERA) is looking to sell $450m of stakes in private equity funds on the secondary market.
Meanwhile, the Los Angeles Fire and Police Pension System has increased the pace of its private equity commitments following a recommendation by Pension Consulting Alliance.
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Some 52% of red flags raised by schemes on suspected scam pension transfers involve advisers or unregulated introducers, a report by the Pension Scams Industry Group (PSIG) has claimed.
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