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CalPERS Defeats Custom Benchmark With 16.19 Percent Return

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The California Public Employees’ Retirement System (CalPERS) issued a performance summary boasting 16.19% gain on their fund as of December 31, 2013, defeating their benchmark index by 137 basis points (bps). In the first half of 2013, the pension giant eclipsed its pre-recession high.

According to the report, CalPERS’ public equity return was a big winner, posting a 25.61% gain. Although the public equity strategy underperformed the S&P 500 by about 4.00%, it still bested the retirement fund’s custom benchmark by 88 basis points.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Why Did Virtus Investment Partners Buy Sustainable Growth Advisers?

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On February 2, 2018, Virtus Investment Partners, Inc. revealed they acquired a 70% interest in Stamford, CT-based Sustainable Growth Advisers, LP, a high-conviction U.S. and global growth equity portfolio management company, from private equity firm Estancia Capital Management and a portion of equity held by the asset manager’s partners (including Sustainable Growth Advisers’ three co-founders). Scottsdale, Arizona-based Estancia Capital Management bought a minority interest in Sustainable Growth Advisers in August 2013 when it had US$ 5.3 billion in assets. Estancia Capital Management is noted for having a number of partners being from Lovell Minnick Partners LLC, a private equity firm specializing in asset management company buyouts.

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HKMA and TRS Participates in Investment in Kakao Mobility

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Private equity firm TPG led a group of investors to acquire a minority ownership stake in Kakao Mobility Corporation, a South Korean taxi hailing service provider. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Meraas Holding Names Former KIO Executive as CEO

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Osama Al-Ayoub, the former CEO and President of the Kuwait Investment Office (KIO), was hired by property firm Meraas Holding to be its chief executive officer. KIO is a London-based unit of the Kuwait Investment Authority (KIA). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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