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$130 Million To $1 Billion, APFC’s Unrealized Gain on Juno

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In greater frequency, sovereign wealth funds are participating as cornerstone investors, not just in Asia, but in U.S. pharmaceutical companies. Sovereign wealth centers on the importance of high-quality deal flow, eagerly waiting for special opportunities from their vast lineup of asset managers. These special opportunities can lead to outsized investment returns for public institutional investors. By taking on a level of idiosyncratic risk, the Alaska Permanent Fund’s investment in Seattle-based Juno Therapeutics, Inc. has been an unrealized boon for the portfolio’s performance. This unorthodox investment has some risks, as Juno Therapeutics has no revenue, no recorded profits and is in the competitive market of cancer-curing therapies.

APFC’s US$ 128.5 million allocation, the investment over 15 months prior to Juno’s initial public offering, was worth on February 18th, US$ 1.093 billion.


Trend ReportThis brief SWFI trend report charts and graphs direct healthcare investments made by sovereign wealth funds.You must be logged in to download the trend report.

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Central Huijin Unit Eyes J&J Diabetes Business

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Sovereign wealth funds have increased their appetite for healthcare-related investments, according to a recent report issued by SWFI research. Johnson & Johnson (J&J), for a while, have been contemplating on possibly selling its diabetes care businesses. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Follow the Money – Episode 45

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This longer-than-normal episode covers a wide range of issues including such as sovereign wealth funds, bitcoin, cryptocurrencies, Indian real estate, ESG, investment exclusions, central banking and more.

EPISODE 45

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The views in this media are expressed by Michael Maduell and other participants and are not reflective of the Sovereign Wealth Fund Institute (SWFI).

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CalPERS Board Elects Priya Mathur as Board President

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The board of the California Public Employees’ Retirement System (CalPERS) elected Priya Mathur as board president. The current president Rob Feckner was named vice president of the board. Feckner previously served as board president and vice president.

Priya Mathur is serving her fourth term on the CalPERS Board of Administration. Mathur is a principal financial analyst for Bay Area Rapid Transit District (BART). Mathur represents public employees on the CalPERS Board, which she joined in 2002. She currently serves on four committees: Governance, Investment, Pension & Health Benefits, and Risk & Audit. She chairs the Pension & Health Benefits Committee and is vice chair of the Governance Committee.

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