Alternatives

SWFI First Read, February 4, 2016

QIC Chief Investment Officer Resigns Adriaan Ryder, the chief investment officer of Brisbane-based QIC, has resigned to accept an investment executive position at a large Middle Eastern investment organization. Ryder performed a number of executive roles at QIC. He has been instrumental in forming an investment network of pensions and sovereign funds for QIC. Ryder’s [...]


SWFI First Read, February 1, 2016

Kessler Topaz Meltzer & Check Filed Class Action Against Esperion Therapeutics Radnor-based law firm Kessler Topaz Meltzer & Check, LLP filed a shareholder class action lawsuit against Esperion Therapeutics, Inc., a listed pharmaceutical company that focuses on developing and commercializing oral low-density lipoprotein cholesterol lowering therapies for patients with hypercholesterolemia. The class action alleges the [...]


Friday SWFI News Roundup, January 29, 2016

USS Sells 13 Private Equity Interests to Ardian Flush with sovereign wealth and pension money, Ardian acquired 13 private equity partnership interests representing £640 million in assets and unfunded commitments from USS Investment Management, a unit of Universities Superannuation Scheme (USS). The deal occurred on December 31, 2015. USS was advised by Evercore on the [...]


Alaskan SWF Invests in Series B on Anti-Cancer Biotech

The Alaska Permanent Fund Corporation (APFC) participated in a US$ 61 million Series B round to invest in Cambridge, Massachusetts-based Codiak BioSciences Inc., a company focused on the advanced research and clinical development of exosomes, which are tiny membrane sacs, or vesicles, that are released by both healthy and cancerous cells, for therapeutic and diagnostic [...]


New York

PSP Investments and Lightyear Capital to Buy AIG Advisor Group

New York-based Lightyear Capital LLC, a private equity firm focused on the financial sector, partnered with PSP Investments to buy AIG Advisor Group, Inc., a subsidiary of American International Group, Inc. (AIG). AIG is continuing to shed its non-core businesses. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view [...]


SWFI First Read, January 22, 2016

CalPERS CEO to Retire CalPERS CEO Anne Stausboll plans to retire, effective June 30, 2016. Stausboll spent 7 years at the pension giant. She has been CEO since 2009. Follow the Money: Episode 1 First Episode: here It is currently being hosted on Asset.tv which can be viewed off their site or a Bloomberg Terminal. [...]


AIMCo Buys Interest in Credit Specialist Loaded with GS Alumni

The Alberta Investment Management Corporation (AIMCo), which manages a number of funds including Alberta’s Heritage Fund, acquired a minority stake in one of its asset managers in a bid to align interests even more. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, January 19, 2016

Hedge Fund Titan Cohen Looks to Boost European Operations Point72 Asset Management, the entity that manages Steven A. Cohen’s vast wealth, hired Jonathan Jones as head of recruitment, a former BlackRock and Goldman Sachs executive. Point72 Asset Management seeks a new head for London. Point72 Asset Management oversees US$ 11 billion in assets. Cohen received [...]


Kuwait Investment Authority Invests in Wearable Technology

The Kuwait Investment Authority (KIA), one of the largest gulf sovereign funds, invested in San Francisco-based Jawbone, a consumer technology and wearable products company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


ADIA Appoints Former GE Capital Exec as Global Head of Private Equity

The Abu Dhabi Investment Authority (ADIA) has hired Sherwood Perry Dodge, as global head of private equities. In this role, Dodge will oversee principals investments, private equity fund investments, secondary fund investments and private credit deals. Dodge will be based in Abu Dhabi and report to Hamad Shahwan Al Dhaheri, the executive director of ADIA’s [...]


UPDATE: Southeast Asian SWFs Continue Tech Plays

Gurgaon-based Clues Network Pvt. Ltd runs ShopClues, another online marketplace in India. ShopClues was founded in 2011 by Sandeep Aggarwal. ShopClues competes with Flipkart, Snapdeal and Amazon. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, January 12, 2016

AGIC Fund Backs KraussMaffei Group Acquisition Henry Cai’s Asia-Germany Industrial Promotion Capital (AGIC) fund partnered with China National Chemical Corporation and Guoxin International Investment Corporation to acquire the 178-year-old KraussMaffei Group, a Munich-based company that makes machinery for processing plastic and rubber. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe [...]


PGGM Enters into a $2.5 Billion Synthetic Securitization Deal

Dutch pension fund manager PGGM signed a massive synthetic securitization deal with Banco Santander in relation to a €2.3 billion portfolio of small business loans. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI – Movers and Shakers – January 7, 2016

Schroder Real Estate Names Fukui Director of Strategic Partnerships Makoto Fukui was hired as director of strategic partnerships at Schroder Real Estate, a unit of Schroder Investment Management. He will report to Chris Ludlam, Schroder’s head of real estate capital and be based in London. This is a new position. Fukui will focus on building [...]


5 Most Interesting Asset Manager Acquisitions in 2015

SWFI staff excludes acquisitions of asset managers focused on private wealth management as well as joint venture buyouts. There was a strong focus on asset managers looking to enhance alternative asset capabilities, as well as wealthy owners and principals looking to cash out. 5.) Legg Mason Acquires RARE Infrastructure Limited Baltimore-based Legg Mason, Inc., an [...]


Secretive Palantir Raises $880 Million

Palo Alto-based Palantir Technologies, named after the “seeing stones” in J. R. R. Tolkien folklore, raised a massive new round of US$ 880 million. This puts data analytics company Palantir at a valuation of US$ 20.33 billion, up from US$ 15 billion in 2014. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. [...]


Temasek Backs Former Google X Moonshot

Asian sovereign wealth funds have been scouring Silicon Valley for startups that aim to disrupt industries and take on global themes such as urbanization. A former Google X moonshot raised some big cash from institutional investors. Research projects put on by Google X, a secretive research lab owned by Alphabet (formerly Google), are referred as [...]


Can Reinsurance Exposure Provide Uncorrelated Alpha?

Chief investment officers love to talk about finding uncorrelated assets. Sovereign funds and pensions like Australia’s Future Fund, the New Zealand Superannuation Fund and the Pennsylvania Public School Employees’ Retirement System seek risk-adjusted returns, especially if it springs from an uncorrelated source. Insurance-linked securities (ILS) are gaining traction as a viable asset class for institutional [...]


Cassa Depositi e Prestiti Contemplates Private Equity Fund for Family Businesses

Italy’s Cassa Depositi e Prestiti (CDP) is contemplating forming a private investment vehicle to fund family businesses that are looking to scale, reach international markets such as China and improve management operations. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


nyc

SWFI First Read, December 16, 2015

UC Investment Office Backs Vivek Ranadivé’s Venture Fund Vivek Ranadivé, founder of TIBCO Software and owner of the Sacramento Kings, is heading a fund that will target innovation opportunities emerging from the University of California. The University of California Board of Regents will be an anchor investor in the fund, kicking in US$ 250 million. [...]