Public Pension

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. ]

OMERS and Crown Estate Extend Partnership by £145 Million

Ontario Municipal Employees’ Retirement Scheme (OMERS), through Oxford Properties, has entered into a second deal with the Crown Estate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

CPPIB Provides Financing for Emerging Gold Producer

Globally, the mining sector in general is suffering a crisis of confidence as commodity investment inflows shrink below a 2012 peak. Many mining companies are in dire need of capital. Rubicon Minerals Corporation, an emerging gold producer, entered into a financing agreement with CPPIB Credit Investments Inc., a unit of Canada Pension Plan Investment Board [...]

TIMBER: CalPERS Outgrows Forestland Investments

The California Public Employees’ Retirement System (CalPERS) is putting 300,000 acres of forestland in Louisiana up for sale. The planned sale represents one-fifth of CalPERS’ holdings in U.S. forests. The deal could raise several hundred million dollars. Portland-based Campbell Group LLC, one of CalPERS’ external managers focused on timberland, has hired UBS AG to run [...]

Robert Greene Appointed Chairman of Virginia Retirement System

Robert L. Greene has been appointed Chairman of the Virginia Retirement System (VRS) by Virginia Governor Terry McAuliffe. Greene has served as a VRS board of trustee and vice chair for a number of years. He replaces Diana Cantor as chairman of the board. Greene is President and CEO of the National Association of Investment [...]

SWFI – Movers and Shakers – May 1, 2015

People Exit as Mercer Heads Toward Global Restructuring Mercer Investments is planning a major global restructuring. Ray King, based in Melbourne, is leaving Mercer Investments as head of private equity manager research for the Asia-Pacific region. Ray joined Mercer in July 2012 where he was at Sovereign Investment Research Pty Limited as managing director. He [...]

New York

Morgan Stanley’s IM Business Rejigs, $500 Billion by 2016

As of December 31, 2014, Morgan Stanley Investment Management reported US$ 403 billion in assets under management (AUM). This is compared to US$ 377 billion in AUM from December 31, 2013. Morgan Stanley Investment Management, which touts clients such as pensions, insurance companies, endowments and sovereign wealth funds, continues to compete for growing AUM in [...]

BlackRock NY

PRIVATE SIDE: Japan Post Chief Joins BlackRock

BlackRock is keen on being one of the top foreign asset managers in Japan (in terms of assets under management), especially as Japanese pensions gravitate toward equity products. Yoshiyuki Izawa, who has been president and CEO of Japan Post Bank for the past five years, is joining BlackRock as an executive. Japan Post Bank oversees [...]

India deals

India Rising: Canadian Pension Giants to Open Mumbai Offices

Canadian Prime Minister Stephen Harper met with Indian Prime Minister Narendra Modi to work on a number of commercial agreements to facilitate trade and investment between the countries. After the election of Modi, Canadian pensions, sovereign wealth funds and private equity firms have boosted capital toward Indian companies and real estate. Opening up Mumbai Offices [...]

UPDATE: Ken Fisher Not Retiring From Investment Responsibilities

UPDATE: We were notified on April 16, 2015, that Ken Fisher will stay on as Chairman and Co-Chief Investment Officer of the firm. After stepping down as CEO, Fisher will remain a member of the firm’s investment policy committee with no change in his investment responsibilities. The title has been amended to reflect the change [...]

CalPERS’ Tollette Wants to Eliminate Uncompensated Complexity

  The California Public Employees’ Retirement System (CalPERS) had its investment committee meeting in which Wylie Tollette, CalPERS’ chief operating investment officer, reported his findings to the board. In the board meeting, Tollette touched on the pension system’s ongoing effort to rein in investment costs – an effort initiated by the late CalPERS CIO Joe [...]

HISTORY: CalPERS’ Stance on CA Legislative Actions on Pension Divestments

  The California Public Employees’ Retirement System (CalPERS) investment committee voted 11 to 1 to approve the investment staff’s recommendation on SB 185. CalPERS’ investment staff recommended to the committee that they take no official position on state legislation which calls on both pensions including CalSTRS to divest from coal companies. View Institutional Investor Profile [...]

Japan’s GPIF Hires Three Transition Managers

Japan’s Government Pension Investment Fund (GPIF) has awarded transition manager mandates to three large asset managers. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

OTPP Chief Investment Officer to Retire in June

Major shuffling among the ranks of Canadian pension giants has occurred in the past 12 months as Neil Petroff, executive vice president and chief investment officer of Ontario Teachers’ Pension Plan (OTPP), plans to retire on June 1, 2015. Petroff has been OTPP since 1993, spending more than two decades at the pension plan. Ron [...]

Former Ballet Dancer, Ex-Yale Investor to Run Stanford Endowment

Robert F. Wallace was named president and CEO of Stanford Management Company (SMC), the organization that oversees Stanford University’s endowments, real assets and other trust assets. Wallace replaced John Powers who made his exit announcement in November 2014. Powers is helping with the transition. View Stanford Endowment Profile [ Content protected for Sovereign Wealth Fund [...]

San Diego County ERA CEO White Resigns

San Diego County Employees’ Retirement Association CEO Brian White has resigned effective March 30, 2015. The retirement board voted 8 to 1 to pass the mutual separation and severance deal, which includes nearly one year’s pay for Brian White. Board Vice Chairman David Myers voted “no” on the measure. San Diego-based Efficient Market Advisors, LLC [...]

ROASTED: Pensions to Vote Against Starbucks Executive Compensation

Starbucks CEO Howard Schultz is facing some opposition on executive pay, specifically an advisory vote on executive compensation, from pension giants Ontario Teachers’ Pension Plan (OTPP), California State Teachers’ Retirement System (CalSTRS) and Florida State Board of Administration (SBA). This information was revealed through the asset owners’ proxy voting disclosures. On the other hand, Canadian [...]

Friday SWFI News Roundup, March 13, 2015

Azerbaijan Sovereign Wealth Fund Looks to Open London Office The State Oil Fund of Azerbaijan (SOFAZ) plans to open an overseas office in London. This is a sign for more allocation to overseas markets. GSO Capital Begins to Market Debut Energy Credit Fund GSO Capital Partners, the credit unit of the Blackstone Group, is attempting [...]

TOBAM Graduates from CalPERS MDP – Gets $764 Million More

The California Public Employees’ Retirement System (CalPERS) graduated Paris-based TOBAM, also known as Think Out of the Box Asset Management, from the system’s Manager Development Program (MDP). In January, CalPERS allocated US$ 764 million to run an expanded global equity strategy. CalPERS is a pioneer among asset owners in seeding investment managers. MDP was founded [...]