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.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers