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CIC-Backed Hedge Fund PCA Investments Closes Doors

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PCA Investments Holding Co, Ltd, a joint venture between the China Investment Corporation (CIC) and PCA Partners, was a multi-strategy hedge fund that has closed down. PCA Investments (Principia Capital Advisors) received major backing from the China Investment Corporation. Principia is named after a famous book by René Descartes, a renowned French philosopher. The CIC was the primary investor of the fund managing US$ 500 million. The hedge fund capital investment was a rare occurrence since large Asian sovereign wealth funds shy from startup funds with little fund performance records. The deal was in the height of the Asian hedge fund craze.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Trump Goes Across the Political Aisle to Nominate Nellie Liang to Federal Reserve Board

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U.S. President Trump nominated Nellie Liang to the Federal Reserve Board of Governors. She is a long-time staff member of the Federal Reserve, joining in 1986 as a research economist. Liang must still be confirmed by the U.S. Senate pending the job post. She is a graduate of University of Notre Dame in 1979 and received her doctorate from the University of Maryland in 1986.

Ms. Liang is a registered Democrat.

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Ivanhoé Cambridge to Acquire Callahan Capital Properties

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Ivanhoé Cambridge, a unit of Caisse de dépôt et placement du Québec (CDPQ), signed a deal to acquire Callahan Capital Properties (CCP). Eastdil Secured advised on the transaction. CCP is Ivanhoé Cambridge’s investment partner of six years.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Manager of China’s Foreign Reserves Could be CalPERS Next CIO

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Numerous financial media outlets, including the Wall Street Journal (WSJ), are reporting that Ben Meng is in key position to become Chief Investment Officer of CalPERS. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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