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5 Most Interesting Asset Manager Acquisitions in 2015

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SWFI staff excludes acquisitions of asset managers focused on private wealth management as well as joint venture buyouts. There was a strong focus on asset managers looking to enhance alternative asset capabilities, as well as wealthy owners and principals looking to cash out.

5.) Legg Mason Acquires RARE Infrastructure Limited
Baltimore-based Legg Mason, Inc., an owner of several investment boutiques and managers (Brandywine Global, ClearBridge Investments, Martin Currie, the Permal Group, QS Investors, Royce and Associates and Western Asset Management), acquired a 75% stake in Australia-based RARE Infrastructure, Ltd. back in July. Founded in 2006, RARE is big on the listed infrastructure scene, touting many large institutional investors such as superannuation funds as clients. The deal highlights asset managers anticipating growth in the liquid alternatives space. RARE’s management team will retain a 15% stake and Sydney-based Treasury Group Limited, a previous minority shareholder retained a 10% stake. UBS Investment Bank advised RARE Infrastructure on the deal.

4.) Aberdeen Looks to Get in on Liquid Alternatives
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CPPIB Tries Out CLO Equity Tranche Investing with Sound Point Capital

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Canada Pension Plan Investment Board (CPPIB) through its wholly-owned subsidiary, CPPIB Credit Investments Inc. (CPPIB Credit), is broadening its portfolio through new investments in equity tranches of collateralized loan obligations (CLOs) alongside experienced CLO asset managers. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CalPERS Names Yu Ben Meng as Chief Investment Officer

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The California Public Employees’ Retirement System (CalPERS) announced that Yu Ben Meng has been selected as the pension fund’s new chief investment officer (CIO). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Ontario Nonprofit Network Awards Mandate to OPTrust

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The Ontario Nonprofit Network (ONN), a nonprofit network for the 58,000 nonprofits in Ontario, selected OPTrust to manage defined benefit assets. ONN selected OPTrust Select, the new defined benefit solution from OPTrust. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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