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CalPERS Private Equity Head Real Desrochers Exits

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Réal Desrochers, who heads the private equity program at California Public Employees’ Retirement System (CalPERS) is leaving effectively, April 7, 2017. Desrochers is taking a position at a large overseas bank, according to CalPERS. In the interim, Sarah Corr will act as the temporary lead of the private equity program at CalPERS. He joined CalPERS in 2011, replacing Leon Shahinian.

Before CalPERS, Desrochers was Chief Investment Officer of the Saudi Arabian Investment Company (Sanabil Investments). Before that role, he spent more than a decade at the California State Teachers’ Retirement System (CalSTRS). He also spent a long stretch at Caisse de dépôt et placement du Québec (CDPQ).

Approximately 8.5% of CalPERS’ assets, or roughly US$ 26 billion, is currently invested in private equity.

China Helps Pakistan’s Foreign Reserves

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Despite Pakistan witnessing an increase in exports, the rapid increase in crude prices and lackluster financial inflows, have affected the country’s balance of payments position. Trying to avoid a full-scale currency crisis, Pakistan is also dealing with a fiscal budget deficit and a current account deficit. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Russia-Japan Investment Fund to Back Wood Pellet Production in Russia

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The Russian Far East has a lot of timber, and for that wood pellets is a source of biofuel. A while back, the Russian Direct Investment Fund (RDIF) formed the Russia-Japan Investment Fund (RJIF) with the Japan Bank for International Cooperation (JBIC). RDIF and JBICIG Partners as part of RJIF, together with RFP Group and Japan’s Prospect Co., Ltd. have agreed to collaborate and consider potential investments in Russia’s biofuel industry. JBICIG Partners is a subsidiary of the Japan Bank for International Cooperation.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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RDIF Lures Asian Investors Toward Russian Surgical Robot Project

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The Russian Direct Investment Fund (RDIF) is partnering with a number of unnamed Asian co-investors to allocate capital toward a project to create and manufacture Russian surgical robots. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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