As we leave 2022 behind, CF Private Equity reflects on today's private markets and what the investment environment looks like for investors in the coming year.
2023 marks the beginning of CF Private Equity’s 35th year of helping investors succeed in private equity investing and with this milestone we are reminded what counts is your success. After all, our mission is helping you fulfill your mission—and that is our unwavering objective, and you can trust us to pursue it every day. With the new year we announce two changes: a new name and a new president.
First, we introduce “CF Private Equity” (formerly Commonfund Capital), which recognizes our 35 years of deep expertise investing in the private equity markets of buyouts, growth equity, venture capital, real assets and sustainability, secondaries, and co-investments. Our new name better describes who we are and what we do: our core investment capabilities in private equity and our team that has been and remains a critical component of building compelling portfolios, providing added diversification, and capturing the liquidity premium offered by private investments.
Second, in the fall we formally announced our executive succession plans with the appointment of Mark Hoeing as the fourth president of Commonfund’s private equity group effective January 1, 2023 and the retirement of 25-year Commonfund veteran Peter Burns who will step down as CEO on June 30, 2023. Peter is known for his strong investment judgment, his strategic and visionary leadership, and his passion for developing people. Mark is on his 18th year at Commonfund and leads our buyout and growth equity investing platform. He brings similar leadership characteristics to his new role as well as a global perspective, skills in setting strategic direction, a sincere enthusiasm for bringing investment solutions to clients and aim higher. On July 1st, Mark will assume the role of CEO.
Before we look ahead, three overall highlights from 2022:
- Since our inception in 1988 and including funds raised during the 2022 calendar year, cumulative commitments from investors to CF Private Equity programs now exceed $20 billion;
- Our investment programs distributed over $1.1 billion back to our limited partners, with distributions from our real assets and sustainability programs leading the way;
- During the year we approved 169 total investments in 2022 (across primaries, secondaries and co-investments) totaling $1.5 billion.