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Chicago Stock Exchange Bought Out by NYSE Parent Company

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The Chicago Stock Exchange’s (CHX) 136-year run has now concluded following the announcement that its parent company will be bought out in its entirety by Intercontinental Exchange Inc. – owner of the New York Stock Exchange – for a reported sum of approximately US$ 70 million. Leaking cash and barely clinging to relevancy, the tiny market operator put itself up for sale in February 2016, drawing a US$ 25 million offer from a consortium of Chinese investors that was ultimately blocked last month by the U.S. Securities and Exchange Commission (SEC) on national security grounds.

Following final closing of the deal later this quarter, the CHX – which handles less than half a percent of equity transactions in the United States – will remain in Chicago as a registered national securities exchange. The CHX will also undergo a technological upgrade with addition of the NYSE’s Pillar integrated trading platform, which allows traders to connect all of the company’s equities and options markets under a single specification.

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Ping An Good Doctor Lures Big Public Asset Owners

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Ping An Good Doctor, formerly known as Ping An HealthCare and Technology Company, is a Chinese online healthcare platform that is part of Ping An Insurance (Group) Company. This unit is planning to be offered in a Hong Kong initial public offering that could raise as much as 8.8 billion HKD in shares at 50.80 or 54.80 HKD per share.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Temasek and Schneider Electric Eye L&T Electrical Unit

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Singapore’s Temasek Holdings and France-based Schneider Electric are in talks to acquire Larsen & Tourbo’s electrical and automation business. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CalPERS Allocates $1 Billion Internally to a Global ESG Strategy

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In February 2018, the California Public Employees’ Retirement System (CalPERS) allocated US$ 1 billion to an internally-managed QSI Global ESG strategy. The internally-managed strategy was developed by New York-based QS Investors, LLC, a subsidiary of Legg Mason. CalPERS entered into a 5-year contract with QS Investors, with a possible spend of over US$ 1 million per annum.

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