Andrew Hedlund
Stephen Schwarzman took a position early on in the firm’s development that modest goals and bold ones required similar effort to achieve. So why not aim high?
The firm is the latest in a string of private market money managers to make the change, citing an expected increase in its share liquidity.
The US-headquartered firm’s initial vehicle posted better results in its $377m of senior debt investments than when also taking mezzanine positions into account.
The infrastructure shop is raising another pool of capital to fund energy efficient infrastructure after its debut vehicle closed above target.
The vehicle will deploy $15m-$40m per transaction.
This LP profile made almost 950 commitments to various private vehicles last year.
The $140bn pension fund promoted a handful of existing staff members.
Bae, who will focus on private equity and real asset strategies, had previously overseen the New York-based firm’s infra platform.
Bae, who will focus on private equity and real asset strategies, had previously overseen the New York-based firm’s infra platform.
The chief investment officer of the US’s largest pension emphasised long-term performance over short-term results.