Matt Levin

The Los Angeles-based private equity firm has purchased a 17% stake in the Nasdaq-listed organic foods grocer, which has struggled amid cutbacks in consumer spending. Leonard Green is investing from its fifth private equity fund, which closed last year on $5.3bn.

The $147bn US pension will decide today whether it will respond to the denominator effect by increasing the amount it is allowed to invest in real estate to 17% of total assets.

The $147bn pension has responded to the denominator effect by increasing the amount it is allowed to invest in private equity to 15% of total assets. CalSTRS has similarly bumped its real estate allocation.

Jay Fewel, OPERF senior investment officer, said over-allocation and the burden of re-upping with existing GPs will leave little money for any group that doesn’t already have an established relationship with the $54.4bn pension.

The $38.3bn pension has committed $50m apiece to Blackstone, GI Partners and Edgewater. The fund also said it is cooperating in a federal investigation into an alleged kickback scheme.

A report commissioned by the Kentucky governor’s office has concluded that the Kentucky Retirement Systems' and the Kentucky Teachers’ Retirement System’s ‘opportunity cost’ for below-average performance amounted to $5bn.

The publicly listed private equity firm, battered by the public markets, has increased the stake the Chinese sovereign wealth fund can own in the firm from 9.99 percent to 12.5 percent.

African fundraising soared to unprecedented heights in the first six months of 2008, but the second half of the year may not be as rosy, writes Matt Levin.

As the fundraising market dips, mega-firms may have all the more reason to seek permanent capital bases with a public float, writes Matt Levin.

Founder Wesley Edens claims the move is necessary to retain capital for ‘tremendous opportunities’ in banks, insurance companies and other asset management businesses. The dividend cut may be linked to a dip in Fortress' fundraising pace.