Public Pension
Harvard

Harvard Management CEO Resigns

Stephen Blyth, the President and CEO of Harvard Management Company, has resigned for personal reasons, effective immediately. Blyth has been on medical leave since May 2016. Robert Ettl, Harvard Management Company’s chief operating officer, will continue to serve as interim CEO. David Barrett Partners, an executive search firm, has been hired to find a permanent […]


canada

PSP Investments and OTPP Buyout Santander in Cubico Sustainable Investments

The Public Sector Pension Investment Board (PSP Investments) and Ontario Teachers’ Pension Plan (OTPP) are going to acquire, in equal proportions, Banco Santander S.A.’s indirect interest in global renewable energy and water infrastructure company Cubico Sustainable Investments Limited, a London-based company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to […]


SWFI First Read, July 25, 2016

Singapore Strategy, Robeco Plants Roots [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Friday SWFI News Roundup, July 22, 2016

CPPIB Exits Riocan Trust Property JV Riocan Real Estate Investment Trust will acquire the Canada Pension Plan Investment Board’s (CPPIB) interest in four properties. The trust will purchase CPPIB’s 50% interest for an aggregate purchase price of US$ 352 million. Sara Bonesteel Promoted to New Retirement CIO at Prudential [ Content protected for Sovereign Wealth […]


Is Brookfield Biting Off More Than it Can Chew?

According to data from the Sovereign Wealth Fund Institute (SWFI), increasingly asset owners such as sovereign wealth funds and large pensions have augmented allocation to unlisted infrastructure. The money flows have created bubbles in the world of private infrastructure, forcing asset owners, managers and other investors to pay more for infrastructure assets. Toronto-based Brookfield Asset […]


SWFI First Read, July 20, 2016

Philadelphia Pension CIO Passed Away Michael Donatucci, the newly-hired chief investment officer (CIO) at the Philadelphia Board of Pensions and Retirement, died on July 15, 2016. Donatucci was 30 years old. He joined the pension as CIO on June 1, 2016. He had been a client investment strategist at SEI Investments. Temasek Makes Offer to […]


Tough Year for CalPERS

The California Public Employees’ Retirement System (CalPERS) announced a preliminary net return of 0.61% for the fiscal year ended June 30, 2016, inferior compared to last year’s return of 2.4%. This is CalPERS worst performance since 2012. Similar to 2015, listed equities and private equity were asset classes that dragged performance, while infrastructure and fixed […]


CalSTRS

CalSTRS Approves $2.5 Billion Allocation to Low Carbon Index

The California State Teachers’ Retirement System (CalSTRS) investment committee moved to permit the allocation of US$ 2.5 billion of its equity portfolio to a low-carbon index strategy. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CalPERS Appoints Marcie Frost as New CEO

The California Public Employees’ Retirement System (CalPERS) Board of Administration announced that Marcie Frost will be its new chief executive officer. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


South Africa’s PIC Kicks in $730 Million Toward Mortgages

South Africa’s Public Investment Corporation (PIC) which oversees the Government Employees Pension Fund (GEPF) invested 10.5 billion ZAR (US$ 730 million) in Durban-based SA Home Loans Ltd., the fifth largest mortgage provider in South Africa. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, July 13, 2016

OPTrust Embraces Smart Beta [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI – Movers and Shakers – July 8, 2016

HSBC Hires Paul Heffernan [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CDPQ Participates in Private Placement in Eurofins Scientific

Luxembourg-based Eurofins Scientific, a bioanalytical testing company, announces that it has privately placed 606,061 newly-issued shares with Caisse de dépôt et placement du Québec (CDPQ), at a subscription price of €330 per share, raising €200 million (US$ 224 million) of additional cash.


Nationwide Promotes Chris Graham to CIO

Insurer Nationwide promoted Chris Graham to chief investment officer and head of investment strategies. This is a new role. He spent around 11 years as a portfolio manager at Nationwide in the area of alternative investments. Graham will report to Mike Spangler, President of Nationwide Funds. Before Graham joined Nationwide, he was a private wealth […]


SWFI First Read, June 29, 2016

OPPORTUNISTIC: GIC Looks at Manufactured Homes Singapore’s GIC Private Limited is in negotiations to acquire Denver-based Yes Communities, an owner of manufactured-housing communities. The seller is Stockbridge Capital Group and the deal may value Yes Communities at more than US$ 2 billion. Yes Communities oversees and manages 178 communities in the United States. NTAM Hires […]


Toshiba Sued Indirectly by Japan’s GPIF

Japan’s Government Pension Investment Fund (GPIF) has sued Toshiba Corporation for ¥964 million (US$ 9.2 million), seeking damages regarding an accounting scandal that impacted Toshiba’s share price. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


How Asset Owners Can Achieve Greatness

Global asset owners, such as the CPPIBs and ADIAs of the world, have increasingly built up their internal resources, while allocating more capital toward illiquid assets. Sovereign funds and other massive pensions often use their balance sheet as tools to generate outsized returns by harvesting the illiquidity premium. However, questions loom: How can asset owners […]


Niklas Ekvall Appointed New CEO of AP4

The Board of the Fourth Swedish National Pension Fund (AP4) has named Niklas Ekvall as the new CEO of AP4. He will replace Mats Andersson as CEO of AP4 as of October 1, 2016. Mats Andersson will officially exit his CEO role on July 12, 2016. Per Colleen, Head of Equities at AP4, will act […]


CalPERS Names Douglas Hoffner Interim CEO

The California Public Employees’ Retirement System (CalPERS) has decided on an interim chief executive officer (CEO), as Anne Stausboll effectively retires on July 1, 2016. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


HSBC to Settle 14-Yr Old Mortgage-Related Lawsuit

HSBC Holdings Plc agreed to settle a massive 14-year old shareholder lawsuit, coughing up US$ 1.575 billion; it is the largest ever recovery following a securities fraud class action trial. Robbins Geller Rudman & Dowd LLP was the lead counsel for the plaintiffs. The settlement is subject to court approval. [ Content protected for Sovereign […]