California Gov Jerry Brown Appoints Dana Hollinger to the CalPERS Board
The California Public Employees’ Retirement System (CalPERS) has a new board member. California Governor Jerry Brown has appointed Dana Hollinger to the Pension Fund’s Board of Administration. She serves as the insurance industry representative.
Hollinger is the principal of the Dana Hollinger Group in Los Angeles, California. The company provides life insurance, estate planning and financial products with a focus on protecting the financial security of women.
“We look forward to Ms. Hollinger joining our Board,” said CalPERS Board President Rob Feckner from a press release. “Her experience in the insurance and finance industry will be valuable as we continue to provide sustainable pension and health benefits.”
Increasingly, Goldman Sachs is buying up small alternative asset management groups across the United States. Goldman Sachs Asset Management (GSAM) is part of Goldman Sachs Group. GSAM inked a deal to purchase Aptitude Investment Management LP, a hedge fund-of-funds manager, from Lindsay Goldberg & Bessemer II AIV LP, a vehicle managed by Lindsay Goldberg. Aptitude Investment Management oversees around US$ 3.5 billion in discretionary assets. Aptitude Investment Management operates out of Seattle and Vancouver, British Columbia.
Before the creation of an in-house unit at Weyerhauser, Morgan Stanley was the sole investment manager of Weyerhauser’s retirement assets. Salim Shariff, formerly of Morgan Stanley Alternative Investment Partners, and Jeff Klein were hired as CIO and Deputy CIO of Weyerhaeuser Asset Management LLC in 2004. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
Singapore’s GIC Private Limited funded a deal through a fund to acquire the Exchange Tower in Perth. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
Turkey Wealth Fund Could Tap Debt Markets in 2019
Turkiye Varlik Fonu or Turkey Wealth Fund could be issuing a large bond in 2019. The loan would most likely be short term in nature with a maturity of two years and be syndicated.
Rahm Emanuel Suggests Bonds to Help Support Chicago Pensions
The outgoing Chicago Mayor Rahm Emanuel revealed a plan on possibly issuing US$ 10 billion in bonds in funding Chicago’s underfunded pension funds. Chicago’s four pension funds have an average funding ratio of 26%. In March 2016, the Illinois Supreme Court ruled an earlier pension reform law effecting employees and laborers’ pension funds that was signed by then Illinois Governor Pat Quinn that the law was unconstitutional.
SoftBank and Alibaba Back PT Tokopedia
PT Tokopedia is an Indonesian generalist e-commerce site. Tokopedia raised US$ 1.1 billion in an investment round led by the SoftBank Vision Fund and Alibaba Group. Softbank Ventures Korea and other investors participated in the round as well. William Tanuwijaya is the CEO and Co-Founder of Tokopedia.
Tikehau Capital and Total SA Form Low Carbon Fund
Tikehau Capital and Total SA created a private equity fund to focus on supporting the energy transition to cleaner sources of energy. The fund held a €350 million first close and raised money from investors such as Bpifrance and Groupama as anchor investors.
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