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CalPERS Acquires Stake in California Solar Power Asset

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The California Public Employees’ Retirement System (CalPERS) is acquiring up to a 25% ownership interest in Desert Sunlight Investment Holdings, LLC, which owns two solar photovoltaic power generation facilities located 60 miles east of Palm Springs, in eastern Riverside County, California. It was once one of the largest solar power plants in the world. CalPERS will purchase the ownership stake from Sumitomo Corporation of Americas, a subsidiary of Sumitomo Corporation, through its Gulf Pacific Power, LLC vehicle, a partnership between CalPERS and Harbert Management Corporation, one of its external infrastructure investment managers. K&L Gates acted as legal counsel to Gulf Pacific Power for the transaction. Sumitomo Corporation of Americas was advised by BofA Merrill Lynch and Chadbourne & Parke, LLP.

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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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