SWFI First Read, January 20, 2017
Trump to Inherit Nearly $20 Trillion in Public Debt
U.S. public debt outstanding at the end of Barack Obama’s term has ended at US$ 19,961,467,137,973.64, according to the U.S. Treasury. The amount is just shy of US$ 20 trillion. When Obama won election in 2009, the U.S. public debt outstanding stood at US$ 10,626,877,048,913.08.
Dallas CFO Issues Warning on Dallas Police and Fire Pension Fund
Elizabeth Reich, the chief financial officer of the city of Dallas, issued a warning to city council members. The warning is regarding the troubled Dallas Police and Fire Pension Fund. She projected the fund could run out of cash in five to seven years – not the 10 years as initially projected.
Vostok Emerging Finance Leads Investment Round in Turkish Fintech Startup Iyzico
Istanbul-based Iyzico, a financial technology startup focused on payments, raised US$ 13 million in a Series C round. Leading the round was Vostok Emerging Finance. Other investors in the round were the International Finance Corporation (IFC) and 212. Vostok Emerging Finance kicked in US$ 9 million in the round. 212 is a Turkish venture capital firm.
Brazilian Supreme Court Judge Overseeing Brazilian Corruption Cases Dies in Plane Crash
Brazilian Supreme Court judge Teori Albino Zavascki died in an airplane crash roughly 160 miles south of Rio de Janeiro. The plane crashed into the sea in heavy rain. Zavascki was overseeing the infamous “Operation Car Wash” case, a massive corruption investigation involving Brazilian politicians and Petrobras. In addition, Zavascki had been investigating executives from Odebrecht.
BVK Allocates to Volatility Risk Premium Fund
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