Views and investment strategies of the world’s leading institutional investors
| 123Venture | Richard Allanic, Investment Manager |
| 747 Capital | Marc der Kinderen, Managing Partner |
| Access Capital Partners | Philippe Poggioli, Partner |
| ACG Private Equity | Lorenzo Lorenzotti, Managing Director |
| Adams Street Partners | Sergey Sheshuryak, Partner |
| Advantus Capital Management | Ronald Sandquist, Managing Director - Private Equity |
| Adveq | André P Jaeggi, Managing Director |
| AGF Private Equity | Luc Maruenda, Managing Director |
| Alcyon | Gunther Pamberg, president |
| Aldus Equity | Saul Meyer, Partner |
| Alignment Capital Group | Austin M Long III, Managing Partner |
| Allstate Investments, LLC | Peter Keehn, Head of Alternative Investments |
| ALPHA Associates | Dr Petra Salesny, Partner |
| ALPHA Associates | Peter Derendinger, Partner and CEO |
| Alternative Investment Capital | Kazushige Kobayashi, Executive Vice President |
| Altius Associates | John Hess, Chief Executive Officer and Director |
| AMB Generali Private Equity | Britta Lindhorst, Managing Director |
| AMR Investments | Bill Quinn, President |
| AP7 | Daniel Barr, Chief Analyst |
| Argentum | Arne Trondsen, Investment Director |
| Asia Alternatives | Melissa Ma, Co-Founder and Managing Director |
| Asian Development Bank | Veronica L John, Senior Investment Officer |
| ATP Private Equity Managers | Jens Bisgaard-Frantzen, managing director |
| Auda Group | David Andryc and Steve Wesson, managing directors |
| AXA Private Equity | James Pitt, Managing Director, Primary Fund of Funds |
| Bank of Scotland | Graham McDonald, Head of Fund Investments |
| Bank//Pension | Leif Hasager, Senior Vice President |
| bmp AG | Ralph Günther, Managing Partner |
| BOC Group | David White, Treasury Manager |
| Brederode (UK) | Luigi Santambrogio, Managing Director |
| Caisse de dépôt et placement du Québec | Pierre Fortier, Vice President, Funds, Private Equity |
| CAM Private Equity | Dr Rolf Wickenkamp, Co-Founder and Managing Partner |
| Capital Dynamics | Thomas Kubr, CEO |
| Capital for Enterprise Board | David Quysner, Chairman |
| Capital Z Investment Partners | Scott Delman, President |
| Capvent | Varun Sood, Founder and Managing General Partner |
| CDC Group | Richard Laing, Chief Executive |
| Citigroup Private Equity | John Barber, Managing Partner |
| Clerical Medical | Rhonda Ryan, senior director, alternative investments |
| Coller Capital | Tim Jones, investment director |
| Colorado PERA | Kevin Kester, Director of Alternative Investments |
| Compagnia di San Paolo | Giorgio Buggio, Portfolio Manager |
| Conversus Asset Management | Bob Long, CEO |
| Cooperative Insurance Society | Richard Hotchkis |
| CPP Investment Board | Mark Weisdorf, Vice President, Private Market Investments |
| CPR Private Equity | Xavier Caron, Managing Partner |
| Danish Investment Fund | Martin V Hansen, Investment Director |
| Danske Private Equity | Claus Stenbaek, executive director and partner |
| Danske Private Equity | Dan Kjerulf, Partner |
| Equity Partners | Carsten Schmeding (managing director), Mark Lippert and Mathias Radeck (both investment directors) |
| European Bank for Reconstruction and Development | Alessandra Pasian, Senior Banker |
| European Bank for Reconstruction and Development | Henry Potter, Senior Banker |
| European Head of Citi Private Equity | Robert Womsley |
| European Investment Fund | Jacques Lilli, advisor to the chief executive |
| European Investment Fund | John Holloway, Director of Operations |
| Extorel Private Equity Advisers | Thomas Kohlmeyer, Partner |
| Fairview Venture Management | Hanse Halligan, Chairman and Chief Investment Officer |
| Feri Alternative Assets | Bernd Kreuter, director private equity |
| Finama | Lionel Bergeron, Investment Manager |
| Finvest | Topi Piela, Director |
| Fondinvest Capital | Charles Soulignac, Chairman and CEO |
| Fonditel | Beatriz González, Director |
| Fort Washington Capital Partners | Gus Long, Managing Partner |
| Frontier Investment Consulting | Kristian Fok, Deputy Managing Director |
| General Motors Investment Management Corporation | Charles Froland, Managing Director |
| Gerken Capital Associates | Lou Gerken, Founder and Chairman |
| Gerling Insurance | Peter Hielscher, Head of Private Equity |
| Glenmede Trust | Barry Kohout, Managing Director |
| Global Vision Private Equity Partners | Reinhard Hartl, Director |
| Golding Capital Partners | Jeremy Golding, Founder and Managing Director |
| Goldman Sachs Private Equity Group | Geoffrey G Clark and J Christopher Kojima, Managing Directors and Michael J Brandmeyer and Harold P Hope III, Vice Presidents |
| Grove Street Advisors | Barry Gonder, General Partner |
| Grove Street Advisors | Clint Harris, Managing Partner |
| Hamburgische Landesbank | John Porter |
| Hamilton Lane | Wayne Harber, Managing Director |
| HarbourVest Partners | D Brooks Zug, Senior Managing Director, and George R Anson, Managing Director |
| Henderson Private Capital | Jan Faber, Head of Fund Investments |
| Hermes Pensions Management | Rod Selkirk, Head of Private Equity |
| Horizon21 Private Equity | Beat Bühlmann, Managing Director and Head of Investment Management |
| Ilmarinen Mutual Pension Insurance Company | Katja Salovaara, Portfolio Manager |
| International Finance Corporation | Haydee Celaya, Director of the Private Equity and Investment Funds Department |
| Investure | Chad Morgan, Director |
| K2 Capital | Donald Kendall, Managing Director and CEO |
| KfW Group | Marc Brugger, Senior Project Manager, Venture Capital and Private Equity |
| Knightsbridge Advisers | Joel Romines, founder and managing principal |
| Korea Venture Investment Corporation | Seong C Gweon, CEO |
| Landmark Partners Europe | Lance Whitehead, Managing Director |
| Landmark Partners Europe | Simon Thornton |
| Landsbanki | Fabio Quaradeghini, Senior Fund Manager, and Jon-Ingvi Arnason, Head of Alternatives |
| LFPE | Marc Brugger, Director |
| LGT Capital Partners | Ivan Vercoutère, Roberto Paganoni, Maximilian Brönner, Tycho Sneyers; Partners |
| Little Hawk Capital Management | Roland Reynolds, Managing Partner |
| Local Government Pensions Institute | Markus Pauli, CIO of Alternative Investments |
| LODH Private Equity ltd | Christopher S Bödtker, CEO |
| Lombard Odier Darier Hentsch & Cie | Christopher S Bödtker, Principal and Head of Private Equity |
| LUMA Capital | Daniel Keller, Director |
| Lyrique | Hans van Swaay, Partner |
| Macquarie Bank | John Brakey, Head of Alternative Investments |
| Martin Currie | Hamish Mair, Director, Private Equity |
| Mediolanum State Street | Giuseppe Campanella, Chief Investment Officer |
| Mercury Partners | Rainer Busch, managing partner |
| Mesirow Financial | Paul Rice, Senior Managing Director, Private Equity |
| Metropolitan Asset Managers | Godfrey Albertyn, Portfolio Manager, Futurebuilder |
| MFonds AG | Alexander Jira, founder and CEO |
| MLC Investment Management | Charl Pienaar and Steve Whatmore, Investment Managers |
| MN Services | Jos van Gisbergen, director of alternative investments |
| Montagu Newhall | Ashton Newhall, Principal and Co-founder; Rupert Montagu, Co-Founder and General Partner |
| Morgan Stanley Alternative Investment Partners | Thomas Dorr, Managing Director |
| Morley Fund Management | Roger Wilkins, Private Equity Manager |
| Mowbray Capital | Guy Fraser-Sampson, Founder and Managing Partner |
| Muller & Monroe Asset Management | Irwin C Loud III, Chief Investment Officer |
| National Pensions Reserve Fund | Ronan Cunningham, Head of Private Equity |
| NESTA Investments | David Hunter, Managing Director |
| New Mexico State Investment Council | Greg Kulka, Director of Alternative Investments |
| Next Chapter Holdings | Mark R. Pattis, Chief Executive Officer |
| NIB Capital | Wim Borgdorff, managing partner |
| Nordea Private Equity | Lauge Sletting, Managing Director, Partner |
| Nordic Alternative Investment Advisors | Martin Anthonsen, Chief Investment Officer |
| North Sea Capital | Lauge Sletting, Managing Partner |
| Northgate Capital | Dr Hosein Khajeh-Hosseiny, Managing Director and Head of Global Private Equity Investments |
| Ohio Public Employees Retirement System (OPERS) | Greg Uebele, Assistant Investment Officer: Private Equity |
| OMERS | Paul G Renaud, Senior Vice President and Chief Financial Officer |
| Oppenheim Private Equity Manager | Peter Schwanitz, Managing Director/Geschäftsführer |
| Pantheon Ventures | Colin Wimsett, Managing Partner |
| Paragon Advisors | Terry Sullivan, managing director |
| Paris Orléans | Emmanuel Roth, Managing Director |
| Partners Group | Urs Wietlisbach, Co-Chairman |
| Paul Capital Partners | Philip S Paul, Chairman |
| PCGI | Steve Cowan, Managing Director |
| Performance Equity Management | Frank Brenninkmeyer, Principal |
| Pictet & Cie | Hans van Swaay, Head of Private Equity |
| Piper Jaffray - Private Capital Group | John Otterlei, Senior Managing Director; Michael Pohlen, Principal |
| Pohjola Group Insurance Corporation | Ari Jauho, vice president, private equity and venture capital |
| Pomona Capital | Michael Granoff, President and CEO |
| Port Shelter Investment Management | Richard Harris, Chief Executive |
| PPM Managers | Roberto Pilotto, Funds Director |
| Private Advisors | Rafael Astruc, Partner, and Rob Voeks, Managing Director |
| Private Equity Europe, Russell | Helen Steers, Managing Director |
| Proventure | Catherine Lewis, Founding Partner |
| Quay Partners | Sam Armstrong, Managing Partner |
| Railways Pension Trustee Company | Stephen Lowe, Investment Consultant |
| RCP Advisors | Tom Danis, Managing Principal |
| Rho Fund Investors | Gordon Hargraves, Vice President |
| Robeco Private Equity | Ad van den Ouweland, managing partner |
| Rumson Capital Advisors | Alex Bangash, managing director |
| SCM Strategic Capital Management AG | Ralph Aerni, Head of Private Equity |
| SEB Asset Management | Stefan Mårelid, Head of Private Equity |
| Second Swedish National Pension Fund - AP2 | Anders Stromblad, Head of Alternative Investments |
| SG Asset Management | Fabrice Lepeltier, Partner |
| SPF Beheer | Maurice Simons, Portfolio Manager, Private equity |
| Spur Capital | Brad Kelly, Paul Fetsch, Paul Gompers and Joan Heidorn, general partners |
| Squadron Capital | David G Pierce, CEO |
| Standard Life Investments | David Currie, CEO, Private Equity Investments |
| State Street Global Investments | Giuseppe Campanella, Chief Executive Officer |
| Sterling Private Investments, Inc. | Brian D. Isroff, Senior Managing Director |
| Surrey County Council | Michael Taylor, Director |
| Swift Capital Partners | Wolf-Dietrich von Wrede, Managing Director |
| Swiss Life Private Equity Partners | Dominik Meyer, partner |
| Swiss Re | Harold Weiss, Head of Private Equity Fund of Funds Unit |
| TANEO | George Kintis, CEO |
| TD Capital | John Greenwood and Stuart Waugh, Managing Directors |
| Teachers' Private Capital | Jim Leech, Senior Vice President |
| The Crossroads Group | Brad Heppner, Chairman and CEO |
| The Multilateral Investment Fund | Susana García-Robles, Senior Investment Officer |
| TIAA-CREF | Sheryl Schwartz, Managing Director of the Alternative Investment Group |
| Unigestion | David Chamberlain, Managing Director, Private Equity |
| Unigestion | Dr Hanspeter Bader, Managing Director in Charge of Private Equity |
| University of Toronto Asset Management Corporation | Brian Stewart, Managing Director, Private Markets |
| UTIMCO | Sara McMahon and Trey Thompson, co-managing directors |
| VCM | Stefan Herzog, Managing Director |
| VCM Capital Management | Dr Hellmut Kirchner, Co-Founder and Managing Director |
| VenCap International | Tim Cruttenden, Senior Investment Manager |
| Venture Investment Associates | Jason Andris, Principal |
| Vintage Venture Partners | Alan Feld, Partner |
| von Braun & Schreiber | Emmeram von Braun, general partner |
| Watson Wyatt Worldwide | Mark Calnan CFA, Investment Consultant - Manager Research |
| WEGAsupport GmbH | Sven Berthold, Investment Manager |
| Wellcome Trust | Sandra Robertson, head of alternative assets |
| Wesleyan University | Colin Ambrose, Senior Investment Officer |
| West Midlands Pension Fund | Alex Scott, senior investment manager |
| West Yorkshire Pension Fund | Stuart Imeson, Head of Pensions and Investments |
| WestAM | Tom Thompson, Director, Private Equity Group |
| Wilshire Associates | Arianne Leuftink, managing director |
| Wilshire Private Markets Group | Daniel Allen, Managing Director |
| Wind River Holdings | David G Proctor, Senior Vice President |
| Winterthur Group | Chris Manser, Head of Alternative Investments |
| Wölbern Private Equity | Philip Frerichs, Managing Director |
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Institutional Investor Profile: Sergey Sheshuryak, Partner, Adams Street Partners 27 Feb 2008. Source: AltAssets. Sergey Sheshuryak on the focus of Adams Street Partners' annual funds of funds, on people matters, on expanding into new territories, on secondaries investing and on the effects of the credit crunch. |
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Institutional Investor Profile: Bob Long, CEO, Conversus Asset Management 12 Feb 2008. Source: AltAssets. Bob Long on overcoming the J-Curve effect, on publicly-listed private equity, on asset allocation, on talent in the private equity world and on the importance of distressed debt to a balanced portfolio. |
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Institutional Investor Profile: Jason Andris, Managing Director, Venture Investment Associates 23 Jan 2008. Source: AltAssets. Andris on investing in venture capital and buy-out funds, on the firm's breakdown of re-ups versus new fund relationships, on bite-sizes, on alignment of GP and LP interests and on the importance of understanding a fund manager's reputation in the market as part of the due diligence process. |
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Institutional Investor Profile: Robert Womsley, European Head of Citi Private Equity 24 Oct 2007. Source: AltAssets. Robert Womsley on Citi Private Equity's fund and direct investments, on the consequences of the US credit crunch and on the future outlook for the private equity business. |
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Institutional Investor Profile: Spur Capital 22 Aug 2007. Source: AltAssets. AltAssets spoke to the team at Spur Capital Partners to find out about their views on early stage venture capital, on venture in the US and worldwide, on due diligence, on competition in the fund of funds market, and on what they think it takes to be successful in private equity investing. |
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Institutional Investor Profile: Irwin C Loud III, Chief Investment Officer, Muller & Monroe Asset Management 11 Jul 2007. Source: AltAssets. Irwin Loud III on why Muller & Monroe Asset Management focuses on the niche end of the private equity market, on first-time fund managers, on assessing risk, and on the mix of skill sets that a good fund management team should have. |
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Institutional Investor Profile: David Currie, CEO, Private Equity Investments, Standard Life Investments 06 Jun 2007. Source: AltAssets. David Currie on his team's focus on buy-out investments, on why he would select certain fund managers, on the Private Equity Investments group's expansion in the US, and on his team's opportunistic approach. |
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Institutional Investor Profile: CalPERS 30 May 2007. Source: AltAssets. The California Public Employees' Retirement System is one of the major investors in private equity funds globally. Currently six per cent of the total fund, or about $15bn is invested in private equity, mostly in fund investments. AltAssets spoke with Clark McKinley, information officer, CalPERS, about the organisation's private equity investment strategy. |
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Institutional Investor Profile: Haydee Celaya, Director of the Private Equity and Investment Funds Department, International Finance Corporation 04 Apr 2007. Source: AltAssets. Haydee Celaya on backing new and established managers in developing countries, on which countries and regions are hot in the emerging markets, and on why networks, reference checks and reputation are so very important when investing in riskier opportunities. |
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Institutional Investor Profile: Frank Brenninkmeyer, Principal, Performance Equity Management 30 Nov 2006. Source: AltAssets. Frank Brenninkmeyer on fund selection criteria, on the qualities his team seeks in a good GP, and on portfolio construction issues. |
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Institutional Investor Profile: Thomas Kubr, a Managing Director and the Chief Executive of Capital Dynamics 23 Aug 2006. Source: AltAssets. Thomas Kubr on ideal portfolio composition, on giving GPs enough freedom to adjust their strategies to changing market conditions, and on mega versus smaller buy-out funds. |
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Institutional Investor Profile: Paul G Renaud, Senior Vice President and Chief Financial Officer, OMERS 02 Aug 2006. Source: AltAssets. Paul G Renaud on why OMERS is increasingly interested in alternative assets, on the pension fund's investment strategy, and on why this year is a good year for private equity investors looking to invest in top-tier funds. |
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Institutional Investor Profile: Peter Keehn, Head of Alternative Investments, Allstate Investments, LLC 29 Jun 2006. Source: AltAssets. Peter Keehn on Allstate's preference for industry sector-specific funds, on the qualities that his team is keen to see in a good GP, on what puts them off investing with certain funds, and on Allstate's thorough due diligence process. |
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Institutional Investor Profile: David G Proctor, Senior Vice President, Wind River Holdings 10 May 2006. Source: AltAssets. David G Proctor on fund selection, due diligence and on the necessity to really understand how fund managers add value to their portfolio companies. |
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Institutional Investor Profile: Greg Kulka, Director of Alternative Investments, New Mexico State Investment Council 25 Apr 2006. Source: AltAssets. Greg Kulka on investing in buy-out and venture capital funds, making co-investments within New Mexico, being not too keen on generalists, and on why a consistent track record over time is the number-one criterion for any GP that is going to make the grade in his portfolio. |
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Institutional Investor Profile: Pierre Fortier, Vice President, Funds, Private Equity, Caisse de dépôt et placement du Québec 22 Mar 2006. Source: AltAssets. Pierre Fortier on the Caisse de dépôt et placement du Québec's private equity investment strategy, the need for being highly selective when picking funds and on the firm's strategic partnership with AXA Private Equity. |
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Institutional Investor Profile: D Brooks Zug, Senior Managing Director, and George R Anson, Managing Director, HarbourVest Partners 23 Nov 2005. Source: AltAssets. D Brooks Zug and George R Anson on long-term relationships with fund managers, brave steps, and why they think that fewer funds can be better than more. |
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Institutional Investor Profile: Dr Hellmut Kirchner, Co-Founder and Managing Director, VCM Capital Management 21 Sep 2005. Source: AltAssets. Dr Hellmut Kirchner on due diligence, arrogant fund managers and on why VCM Capital Management started raising its second mezzanine fund of funds straight after closing the first. |
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Institutional Investor Profile: Marc der Kinderen, Managing Partner, 747 Capital 14 Sep 2005. Source: AltAssets. Marc der Kinderen believes that you can only select the best investment opportunities if you analyse all the funds active in your segment. 747 Capital meets with every small buy-out and growth team in the US that is in the market with a new fund. |
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Institutional Investor Profile: Sheryl Schwartz, Managing Director of the Alternative Investment Group, TIAA-CREF 29 Jun 2005. Source: AltAssets. Sheryl Schwartz on how to get into the best funds, on diversification, and on why excellent time management is the key to success in this business. In her 18 years with TIAA-CREF Schwartz has worked in five different areas: she started off in privately-placed debt and then went on to work in asset-backed securities before she started TIAA-CREF's secondary trading desk. Schwartz then worked in mortgage-backed securities. In 1997 she started the Alternative Investment Group. |
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Institutional Investor Profile: Dr Hosein Khajeh-Hosseiny, Managing Director and Head of Global Private Equity Investments, Northgate Capital 15 Jun 2005. Source: AltAssets. Dr Hosein Khajeh-Hosseiny speaks about his firm's strategy and describes his views on how fund of funds investment will evolve. Northgate Capital's goal is to provide institutional and family investors with identification of and global access to a select group of alternative investment opportunities. Northgate now has over $600m in assets under management and a strong, growing group of top institutional and family investors. The firm has offices in the United States and the United Kingdom. |
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Institutional Investor Profile: John Hess, Chief Executive Officer, Altius Associates 01 Jun 2005. Source: AltAssets. John Hess on due diligence at private equity advisor Altius Associates, his firm's conservative investment approach and why he thinks few clients are better than many. Altius has a mixture of discretionary and non-discretionary clients, which include the California State Teachers' Retirement System, Teachers' Retirement System of Texas, Danish pension funds and UK institutions. |
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Institutional Investor Profile: Barry Gonder, General Partner, Grove Street Advisors 03 May 2005. Source: AltAssets. Barry Gonder on why all of Grove Street Advisors's portfolios are structured differently and on why he thinks that the risk associated with first-time funds is often overestimated. When Gonder joined Grove Street from the California Public Employees' Retirement System in 2001 he had already worked in investment for 12 years, having gained experience of both direct equity investments in companies and fund investments. At CalPERS he led the private equity programme from its infancy to $19bn in commitments - out of which $10bn had been invested - after five and a half years. |
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Saul Meyer on the increasing attractiveness of mezzanine, on the appeal of first-time funds, on the importance of long-term relationships with fund managers and on building a good reputation for the private equity industry.
Roland Reynolds on why Little Hawk focuses on the smaller end of the private equity spectrum in the US, on why first-time funds can be attractive and on a framework for evaluating general partners.
Michael Pohlen on the exciting opportunities in cleantech investments, an impending shake-out in the Chinese private equity market, the shut-down of the IPO window and on the attractiveness of the LBO and VC markets.
Rupert Montagu on fund and direct investments in the venture capital space, on opportunities in the secondaries market and on the challenge of finding venture fund managers who really do add value to their portfolio companies.