Friday SWFI News Roundup, January 30, 2015
Russia’s Anti-Crisis Plan
Russian Prime Minister Dmitry Medvedev has moved forward on inking a 1-year anti-crisis plan. The plan has 60 measures, costing around 2.3 trillion rubles. A major plan component is forming a financial institution that will acquire “bad debt” – more guidance will be provided by March 2015. Russia’s National Welfare Fund (NWF) will be a source of funding for a number of these measures.
Sovereign Wealth Centers Around Standard Chartered CEO
Two of Standard Chartered’s largest shareholders, Singapore’s Temasek Holdings and Aberdeen Asset Management Plc, are forcing the bank chairman John Peace to create a succession plan. Executive search firm Egon Zehnder has been hired to find the next CEO of Standard Chartered. Potential candidates include the CEOs of Lloyds Banking Group Plc, HSBC Holdings Plc (UK) and Westpac Banking Corporation. Internal candidates are also a possibility.
CPPIB Commits Capital to Northleaf Capital Partners
Canada Pension Plan Investment Board (CPPIB) has invested C$ 330 million with Canadian private equity firm Northleaf Capital Partners. The money is being committed to a Canadian fund-of-funds program targeting Canadian small and mid-market buyout and growth equity funds. In 2014, CPPIB invested C$ 70 million into Northleaf Venture Catalyst Fund.
Neuberger Berman Opens Bogota Office
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