Public Pension

3 Ways Asset Owners Can Lower Costs

As annual returns diminish and liabilities increase, asset owners such as U.S. public pensions are looking at ways to cut costs. External manager fee costs are exacerbated by more pensions allocating toward private markets versus public markets. 1. Transition Assets to Internal Management This is the path that most large asset owners, US$ 100 billion [...]


CalPERS Offered Massive Loan from Deutsche Bank on NY Office

The California Public Employees’ Retirement System (CalPERS) is moving forward on its US$ 1.9 billion acquisition of a Manhattan office property, 787 Seventh Avenue in New York City. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


New ESG Head for Standard Life Investments

Standard Life Investments named a new head of ESG. This person replaces Guy Jubb who plans to retire on March 31, 2016. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI – Movers and Shakers – February 3, 2016

Gary Dokes Leaves Arizona State Retirement System for Arizona Community Foundation The Arizona State Retirement System is losing its chief investment officer Gary Dokes to a local non-profit charity. Dokes has been hired as CIO of the US$ 760 million Arizona Community Foundation. Dokes will work with the foundation’s investment consultant firm Pavilion Advisory Group [...]


BlackRock’s Fink Speaks

The CEO of the largest asset manager in the world penned a letter to CEOs that make up large European corporations and S&P 500 companies. Larry Fink opined that corporate America and Europe, also throwing in politicians, need to focus less on “short-termism”. Here is the letter, BlackRock’s CEO wrote to these executives: – START [...]


Korea’s NPS Names New Chief Investment Officer

Korea’s National Pension Service (NPS) has named a new chief investment officer. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Craig Dawson to Run EMEA Region for PIMCO

Craig Dawson will become head of Europe, Middle East and Africa (EMEA) at Pacific Investment Management Co. (PIMCO), effective July 1, 2016. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


BOOM: CCB Pension Gets First EA License in a Decade

China’s investment management industry continues to blossom with increased assets under management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI – Movers and Shakers – January 28, 2016

Quattrone Hands Keys to George Boutros Frank P. Quattrone is stepping down as CEO of Qatalyst Group, a mergers & acquisitions firm he formed in March 2008. Quattrone was the investment banker who took Cisco Systems and Amazon.com public in the 1990s. Quattrone will become executive chairman of the firm, while promoting long-time ally George [...]


CalPERS Agrees to Renew Participation in OCC Repo Facility

The California Public Employees’ Retirement System (CalPERS) has been earning fees by taking on counterparty risk. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, January 26, 2016

Ssangyong Engineering & Construction Lands Big Singapore Project Ssangyong Engineering & Construction won a major mandate from Singapore’s Land Transport Authority on a subway construction project worth US$ 252 million in Singapore in partnership with Hyundai Engineering & Construction. Ssangyong Engineering & Construction will hold a 75% stake, while Hyundai Engineering & Construction will hold [...]


Chikyoren Doles Out 7 Mandates

Increasingly, Japanese pension investors are investing more into listed equities. Listed equities in Japan benefitted in 2015 from easy money policy from the Bank of Japan. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Cattle and Fish Attracts Canadian Pension Giant

PSP Investments is looking down under for cattle. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


RPMI Railpen Backs Unigestion’s Smart Beta Funds

Since 2013, RPMI Railpen has been looking to move toward smart beta strategies as part of its investment transformation program. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Malaysia’s KWSP Goes Domestic

Malaysia’s Employees’ Provident Fund, also known as KWSP, plans to invest more domestically in 2016, following in the footsteps of other public funds like Khazanah Nasional. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


BlackRock NY

Can BlackRock Reach $5 Trillion in 2016?

BlackRock Inc., the world’s largest asset manager, rivaling the size of the largest sovereign wealth funds, had US$ 4.645 trillion in assets under management (AUM) as of December 31, 2015. The company’s more conservative measure of long-term AUM is US$ 4.335 trillion. BlackRock will have challenges reaching US$ 5 trillion, as equity markets continue to [...]


Friday SWFI News Roundup, January 15, 2016

State Street to Pay SEC Fine for Pay-to-Play State Street was accused by the U.S. Securities and Exchange Commission (SEC) of engaging in pay-to-play tactics in exchange for Ohio pension fund contracts. State Street will pay US$ 12 million to settle charges. An SEC investigation revealed that Vincent DeBaggis, a senior vice president at State [...]


California Pension Giants Gobbling up Data Centers

Both CalPERS and CalSTRS have mandates to acquire data centers, internet gateways, technology corporate campuses and life science properties located in core metropolitan areas throughout the United States. Both pensions are using San Francisco-based GI Partners to do so. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. [...]


OMERS Invests in String of Dermatology Clinics

OMERS PE, the private equity arm of the Ontario Municipal Employees’ Retirement System, is acquiring Manitowoc, Wisconsin-based Forefront Management Holdings, a physician management company focused on the dermatology sector. The seller is Varsity Healthcare Partners, a healthcare-focused private equity investment firm. Varsity Healthcare held the company for less than 2 years. The deal valued Forefront [...]


WINNERS: FRR Awards 11 Active Corporate Bond Mandates

Fonds de Réserve pour les Retraites (FRR), a French national pension, selected its eleven managers for active management of corporate bonds mandate. The mandates in total are worth up to €8.5 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]