The Fund seeks to participate in private equity investments primarily through private equity partnerships, which are pooled funds managed by specialized investment managers for the purposes of making structured investments in private companies. Private equity fund managers often have the flexibility to invest in a wide range of securities, including various forms of equity (stock, rights, options, partnership units) and debt (notes, bonds, debentures, evidences of indebtedness). Private equity investments are generally held for long term appreciation, are typically subject to transfer restrictions, and as such are less liquid than publicly-traded securities.
Properly structured private equity partnerships and investments help to foster an ownership mentality among capital providers, investment managers, and corporate management teams. Meaningful equity participation among the principals serves to align the interests of managers and shareholders, emphasizing the common goal of enhancing enterprise value. In addition, private ownership enables investors and managers to focus on long-term value creation as opposed to short-term earnings targets. Moreover, many successful private equity investors leverage their operating expertise to achieve business building and improvement initiatives, providing an important source of value-added returns less correlated with market fluctuations.
The Fund’s private equity team will seek to establish long-term partnerships with investment managers who have the ability to consistently deliver top-quartile returns. The Fund will seek to partner with the very best private equity investors, including emerging and diverse managers, across various investment strategies such as leveraged buyouts, growth equity, venture capital, distressed debt, turnarounds, restructurings, and other special situations. The Fund will also selectively consider opportunistic strategies, such as co-investments with investment managers and secondary transactions that can serve to both lower management expenses and enhance net returns. In addition, the Fund will seek to commit capital across various geographies, including to international managers who have the expertise to source attractive investment opportunities in emerging global markets and industries that show high potential for economic growth and capital appreciation. The Fund’s private equity team will be responsible for the sourcing, due diligence, and monitoring of all investment opportunities, but will work with consultants as necessary and required.
For general inquiries, please contact the private equity team or the Fund’s consultants directly.
General Private Equity Consultant
LP Capital Advisors
520 Capitol Mall, Suite 750
Sacramento, CA 95814
Emerging Manager Program Consultants
Banc of America Capital Access Funds
Bank of America Tower
One Bryant Park
New York, NY 10036
Muller & Monroe Asset Management, LLC.
180 North Stetson Avenue
Chicago, Illinois 60601
In-State Program Consultants
Hamilton Lane Advisors
One Presidential Boulevard - 4th Floor
Bala Cynwyd, PA 19004
Customized Fund Investment Group
Credit Suisse Securities (USA) LLC
11 Madison Avenue, 16th Floor
New York, NY 10010