Public Pension
sovereign wealth india

Billionaire Prem Watsa Feeds OMERS’ Thirst for Indian Exposure

The Ontario Municipal Employees’ Retirement System (OMERS) finalized its participation in a private placement on January 13, 2017 to purchase 17,021,500 subordinate voting shares of Fairfax India Holdings Corporation, which is controlled by Toronto-based Fairfax Financial Holdings Limited, at a price of US$ 11.75 per share for total consideration of US$ 200,002,625. Before the placement […]


BNY Mellon Manhattan

BNY Mellon Refocuses Efforts in ETF Space

BNY Mellon is keen on growing its exchange-traded fund (ETF) business and clearly understands it’s a scale business. The New York banking giant continues to watch its competitor BlackRock gain more AUM inflows from its iShares business. BNY Mellon expects further growth in the ETF space in the next decade as both retail and institutional […]


TREND: Ontario Teachers Invests in Datacenter Business

Is the infrastructure around information technology becoming a utility? New York-based RedBird Capital Partners and the Ontario Teachers’ Pension Plan (Ontario Teachers) are investing in Dallas-based Compass Datacenters, LLC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Himalaya Capital Wins Global Equity Mandate from San Francisco ERS

The San Francisco City & County Employees’ Retirement System (SFERS) is gradually increasing its asset allocation toward Asian investments in both public and private markets. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI – Movers and Shakers – January 6, 2017

UBS RE Executive to Exit for GIC UK Role Iain Cahoon is leaving UBS AG as co-head of EMEA real estate to become Head of U.K. for Singapore’s GIC Private Limited. Pablo Sánchez Named President of Banco Central de Bolivia Pablo Sánchez is taking over as President of Banco Central de Bolivia (the Central Bank […]


SWFI First Read, January 4, 2017

Trump to Nominate Jay Clayton as SEC Chairman U.S. President-elect Donald Trump is putting forward Jay Clayton, to head the U.S. Securities and Exchange Commission (SEC). Clayton is a partner at law firm giant Sullivan & Cromwell LLP. If confirmed by the U.S. Senate, he would replace Mary Jo White. “Jay Clayton is a highly […]


SWFI First Read, January 3, 2017

SOLVENCY ISSUES: Central States Teamsters Pension Fund Could Get Approval to Cut Benefits The Central States Teamsters’ pension plan, based in Des Plaines, Illinois, hopes to get approval from the U.S. Treasury Department to lower benefits for participants by as much as 30% to help the plan remain solvent. The plan covers more than 407,000 […]


Top 10 Fascinating Asset Owner Hires of 2016

The Sovereign Wealth Fund Institute (SWFI) editorial team has come up with a short list of the top 10 most fascinating asset owner (sovereign fund, pension fund, superannuation fund, endowment or other end user investor) for 2016. Promotions within an organization do not count. 10. Rob Hogg Became Head of Global Strategies and Quantitative Methods […]


Mass PRIM’s Inaugural Direct Real Estate Deal

The Massachusetts Pension Reserves Investment Management Board (Mass PRIM) made its inaugural direct real estate investment in a bid to save on manager fees. Real estate investments make up roughly 10% of Mass PRIM’s current portfolio allocation. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


HAPPENING: CalPERS to Lower Discount Rate to 7%

The Board of the California Public Employees’ Retirement System (CalPERS) approved a motion to lower the fund’s discount rate of return from 7.5% to 7%, over a three-year time frame. The reasons are manifold. CalPERS last lowered its expected return in 2012, lowering it from 7.75% to 7.5%. A reduction in discount rates means that […]


CalPERS: Cutting Back on Private Equity and Global Equities

On December 19, 2016, the California Public Employees’ Retirement System (CalPERS) held their year-end investment committee meeting. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


BNY Mellon Manhattan

U.K. Local Pensions Partnership Hires BNY Mellon for Custodial Global Equity Mandate

The £10 billion U.K.-based Local Pensions Partnership Ltd. hired Bank of New York Mellon as the first custodian of the partnership’s £5 billion global equity pool. The Local Pensions Partnership is an asset & liability management partnership between the London Pensions Fund Authority and Lancashire County Pension Fund. 60% of the equity pool is managed […]


CPPIB Acquires 50% Interest in New Zealand Property Portfolio from PSP Investments

The Canada Pension Plan Investment Board has signed an agreement to acquire a 50% interest in a diversified portfolio of prime office and retail properties in New Zealand from the Public Sector Pension Investment Board (PSP Investments). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Florida SBA Had Backed REIT on iStorage Portfolio Deal

The Florida State Board of Administration (SBA) is keen on direct real estate investing in the United States. On October 6, 2016, Florida’s SBA invested US$ 248.5 million for a 75% equity ownership stake in a portfolio of U.S. self-storage properties called the iStorage portfolio. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers […]


China’s NSSF Awards Mandates for PPF Scheme

China’s National Social Security Fund awarded a ton of mandates regarding its new public pension fund (PPF) scheme. The Asian public fund institutional investor plans to have more Chinese provincial assets under its watch, needing to dole out money to external fund managers. NSSF named some 21 domestic fund managers to its list. To see […]


SWFI First Read, December 6, 2016

BlackRock Hires Former CMO and CCO at Buzzfeed to Lead Marketing Efforts BlackRock Inc. hired the former Chief Marketing Officer and Chief Creative Officer at Buzzfeed, Frank Cooper, to be the firm’s new global chief marketing officer. Frank Cooper will report to BlackRock CEO Laurence “Larry” Fink. Cooper had stints at PepsiCo Inc., AOL, Warner […]


National Council for Social Security Fund Awards Four Custodial Mandates

China’s National Council for Social Security Fund has awarded a number of mandates to custodial banks. The mandates are for the basic insurance pension fund. The four banks that won the mandate to be custodial banks for the basic insurance pension fund are: Bank of China, Industrial and Commercial Bank of China (ICBC), China Merchants […]


Dallas Mayor Wants to Halt Pension Withdrawals

UPDATE: December 8, 2016 The Dallas Police and Fire Pension System’s Board of Trustees stopped the lump sum withdrawals from the pension fund. The trustees were trying to put off a possible restraining order. The board chairman Sam Friar stated, “Our situation is currently critical, and we took action.” Dallas Mayor Mike Rawlings, in a […]


Lou Jiwei Becomes Chairman of NSSF

Lou Jiwei is not done serving his country. The former Finance Minister of China was named the fifth Chairman of the National Council for Social Security Fund (NSSF). Lou Jiwei replaces Xie Xuren, who was the Chair of NSSF since 2013. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to […]


CalPERS Reduces Ownership in TOBAM, While Amundi Increases

Amundi increased its ownership stake in Paris-based TOBAM, formed in 2006 by Yves Choueifaty, by acquiring shares from other shareholders such as the California Public Employees’ Retirement System (CalPERS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]