Public Pension

SWFI – Movers and Shakers – July 29, 2015

Seides Ditches Protégé Partners, Joins Credit Suisse Asset Management Ted Seides, president and co-founder of Protege Partners, is leaving the company to create a hedge fund at Credit Suisse Asset Management. Seides will be developing an equity fund at Credit Suisse. John Mackin is being appointed president of Protege Partners. Seides will remain a non-voting [...]


JP morgan

Investors Recover $388 Million in JP Morgan MBS Class Action

After six years of intense litigation, the lead plaintiffs and court-appointed class representatives of Laborers Pension Trust Fund for Northern California and Construction Laborers Pension Trust for Southern California recovered hundreds of millions of dollars regarding nine 2007 residential mortgage-backed securities (MBS) offerings issued by JPMorgan Chase & Co. This brings near closure to one [...]


CUSTODIAN: AP2 and AP3 Choose Northern Trust, State Street Out

Swedish buffer funds AP2 and AP3 have jointly awarded a contract as global custodian to Northern Trust for each of the funds. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CalPERS Generates 2.4% Return for FY 2015

California Public Employees’ Retirement System (CalPERS) returned 2.4% in fiscal year 2015 – ended June 30th, 2015. This was CalPERS’ worst performance since 2012 when it generated a 1% return. Listed equities were a major drag on performance, along with private equity. The pension giant had an internal goal of 2.5%, far below its targeted [...]


QSuper CEO Rosemary Vilgan to Retire in October

QSuper CEO Rosemary Vilgan will retire effective October 23, 2015. Vilgan has been with the Brisbane-based superannuation fund for 27 years, 18 years as its CEO. QSuper will begin a formal search for the fund’s next CEO. QSuper is one of Australia’s largest superannuation funds. QSuper has more than 540,000 members where it invests in [...]


CPPIB Makes First Direct Investment in Canadian Multi-Family

Canada Pension Plan Investment Board (CPPIB) acquired a 60% interest in Minto High Park Village, a multifamily rental property, from Minto Properties Inc. for approximately C$105 million. Minto will own the remaining 40% of the property and provide management and leasing services. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe [...]


Ivanhoé Cambridge and APG Drop $920 Million on Chongbang Group

Ivanhoé Cambridge, the real estate unit of Caisse de Depot et Placement du Quebec (CDPQ), and APG Asset Management N.V. together invested US$ 920 million in Chinese retail property firm Chongbang Group. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


India deals

CPPIB Indian Property Venture Acquires SP Infocity IT Park

Canada Pension Plan Investment Board (CPPIB) and Mumbai-based Shapoorji Pallonji Group, through their joint investment unit SPREP Pte Ltd. (CPPIB owns 80% of the unit), is making its first investment acquiring 100% of the securities of Faery Estates Private Limited. India-based Faery Estates owns, operates and manages SP Infocity IT Park in Chennai, India. The [...]


SEC Targets State Street on Usage of Consultants and Lobbyists

The U.S. Securities and Exchange Commission (SEC) had served a Wells notice to Boston-based State Street Corporation. The notice is for informing State Street that SEC employees plan to ask the commission for authorization to bring a civil enforcement action that would allege violations of U.S. securities laws. It is important to note that receiving [...]


OMERS Buys The Kenan Advantage Group from GS and Centerbridge

Ontario Municipal Employees’ Retirement System (OMERS), through its private equity arm, has agreed to acquire Ohio-based The Kenan Advantage Group Inc., a provider of liquid bulk transportation services. OMERS is buying the company from Centerbridge Partners LP and Goldman Sachs Capital Partners, the private equity arm of Goldman Sachs. [ Content protected for Sovereign Wealth [...]


Sweden to Shutter AP6, Transfer Unlisted Assets to AP2

The Swedish government is closing AP6, one of the country’s buffer funds. The government is looking to overhaul the country’s AP fund system. AP6 specializes in private equity. AP6 will roll up into its sister fund AP2. AP6’s 23.6 billion SEK (US$ 3 billion) in unlisted assets will be moved to AP2. Various AP officials [...]


Padded with Donations, Harvard’s Endowment Gets More Breathing Room

Recently Harvard University received a massive US$ 400 million gift from hedge fund titan John A. Paulson – the single biggest donation in the university’s history. The money went toward the Harvard’s Engineering and Applied Sciences school. Harvard will rename the school after John Paulson and part of the gift money will go toward the [...]


RPMI Railpen Awards Northern Trust Mandate for In-House Managed Investments

RPMI Railpen, the in-house asset manager for the £21 Railways Pension Scheme, selected Northern Trust to provide investment operations outsourcing services. RPMI Railpen liked the fact that Northern Trust worked with both startup and established in-house managed asset owners and managers. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to [...]


State Street Beats NAB for VFMC Mandate

State Street was selected as custodian and administrator for Victorian Funds Management Corporation (VFMC). VFMC has A$ 50 billion in assets. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CPPIB to Buy Stake in Enstar Group

The Canada Pension Plan Investment Board (CPPIB) agreed to purchase a 9.9% interest in insurance specialist Bermuda-based Enstar Group Ltd. Enstar is publicly listed. CPPIB acquired 1.9 million voting and non-voting ordinary shares from Greenwich-based First Reserve Corporation, a private equity firm. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe [...]


David Kushner Resigns as CIO of LACERA

On May 29, Los Angeles County Employees Retirement Association (LACERA) Chief Investment Officer David Kushner resigned. In the interim, Vache Mahseredjian, principal investment officer, will take his place. Kushner joined LACERA in November 2011, coming from San Francisco City & County Employees’ Retirement System where he was deputy director.


SRI and Sustainability Allocation Expands in Europe

The themes of sustainable and socially-responsible investing (SRI) are gaining traction in Europe. Mandates are being filled. Even Norway’s massive sovereign wealth fund has incorporated select “sustainable” criterion into their investment processes for equity selections. In May, the €23 billion Etablissement de Retraite Additionnelle de la Fonction Publique (ERAFP) awarded a big €400 million allocation [...]


CPPIB Commits $100 Million to LATAM Corporate Bond Fund

The Canada Pension Plan Investment Board (CPPIB), through CPPIB Credit Investments Inc., has allocated US$ 100 million in a high-yield corporate debt fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI – Movers and Shakers – May 25, 2015

Khazanah Hires Former McKinsey Partner to Lead Indian Operations Malaysia’s Khazanah Nasional hired Chinta Bhagat as an executive director for investments in India. Bhagat will start July 15, 2015 and will be based in Mumbai. Bhagat will lead the wealth fund’s Indian operations and be part of Khazanah’s global healthcare sector leadership team. Previously, Bhagat [...]


NC Retirement Systems Awards US$ 4.5 Billion in Listed Equities

North Carolina Retirement Systems has awarded a US$ 3 billion mandate to Durham-based Piedmont Investment Advisors, LLC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]