Sacramento reveals $111 million in commitments
Sacramento reveals $111 million in commitments
Pension fund also maintains watch on Lakewood Capital Partners
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Sacramento County (Calif.) Employees Retirement System committed about $111 million to three alternatives funds, confirmed Steve Davis, chief investment officer of the $12 billion pension plan.
SCERS committed €42 million ($51 million) to
Meridiam Sustainable Infrastructure Europe IV. It also committed $40 million to Ares Capital Europe V, a direct lending fund managed by
Ares Management; and $20 million to Shamrock Capital Growth Fund V, a buyout fund managed by
Shamrock Capital Advisors.
In addition, documents from the pension fund show that Lakewood Capital Partners remains on watch for performance reasons. The hedge fund manages $52 million for the pension fund. A representative from Lakewood could not be immediately reached for comment.
Port of Corpus Christi, Ares sign MoU for green hydrogen May 12, 2021, by Sanja Pekic
The Port of Corpus Christi Authority and Ares Management have signed a Memorandum of Understanding (MoU) to develop energy infrastructure for the production of green hydrogen.
Courtesy of Port of Corpus Christi
Green hydrogen, produced by passing an electric current through water (electrolysis), is made without CO2 emissions. As the hydrogen produced is a clean fuel that can be used to decarbonise industries and processes, it can contribute greatly to the energy transition,
The MoU outlines preliminary provisions for a renewable energy and clean fuel hub that will be comprised of solar facilities, battery storage facilities and electrolyser facilities. The facilities will be located on Port-owned property.
Dive Brief:
The brand collective and licensing specialist tapped Sid Keswani as president of Centric Brands. Keswani previously served as president of jewelry retailer Pandora s North American division, according to a press release.
Centric Brands also added Bain & Co. adviser Ruth Hartmanman to its board. Hartmanman previously was president of Lord & Taylor, overseeing digital, merchandising, stores and marketing.
Dive Insight:
Centric Brands CEO Jason Rabin touted the operational and digital chops of Keswani and Hartman as the company works to execute on its strategic growth initiatives.
Rabin said of Hartman, Ruth has a great deal of knowledge and experience in the digital space that can help us capitalize on one of our key growth initiatives of expanding our online revenue. Prior to Lord & Taylor, Hartman was chief merchant of online clothing rental specialist Le Tote (which acquired Lord & Taylor in 2019 before filing for bankruptcy last year).
Press release content from Business Wire. The AP news staff was not involved in its creation.
Ares Management Announces Sale of Farrow & Ball to Hempel Group
May 11, 2021 GMT
LOS ANGELES (BUSINESS WIRE) May 11, 2021
Ares Management Corporation (NYSE:ARES) today announced that a fund managed by its Private Equity Group has signed a purchase agreement to sell Farrow & Ball, a UK based manufacturer and retailer of premium paint and wallpaper, to Hempel Group. Terms of the transaction were not disclosed.
Farrow & Ball is an iconic paint and wallpaper brand with a 75-year British heritage. Recognized as the authority on colour and interior design inspiration, Farrow & Ball has become the premium brand of choice for consumers, designers and cultural institutions around the world. Its paints are crafted with rich pigments and precise techniques to deliver unmatched depth and consistency of colour. All Farrow & Ball paints have an eco-friendly water base, are categorized as low or mini