State panel ponders role in investments (The Oregonian)

When I read this article, the first thing that came to mind was that this is exactly the reason many institutions rely on fund-of-funds to deal with the time consuming due diligence associated with private equity investing.

Since Jan. 1, high-flying and expensively clad masters of the private-equity universe have flown out to Or-e-gone, made 15-minute presentations to the six locals charged with husbanding the public-employee nest egg, and flown home with commitments for investments of $2.6 billion.

...But with a steady flow of new private-equity deals, the council has spent 70 percent of its meetings discussing an asset class that represents only 15 percent of its $68 billion portfolio, said Richard Solomon, the council chairman and Portland accountant.

In the end, the council voted unanimously to turn over more investment authority to staff.

Wharton Private Equity Review: Finding Value in a Crowded Market

Private equity firm aims to fill a gap (Dallas Business Journal)

"Teakwood is trying to fill what its executives perceive as a funding gap between traditional private equity firms -- which generally want to put in at least $5 million -- and wealthy individuals, who generally will invest about $1 million to $1.5 million, and often less. "