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CPP Fund Exceeds $183 Billion at 2013 Fiscal Year-End

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According to the press release, “The CPP Fund ended its fiscal year on March 31, 2013 with net assets of $183.3 billion, compared to $161.6 billion at the end of fiscal 2012. The $21.7 billion increase in assets for the year consisted of $16.2 billion in net investment income after operating costs and $5.5 billion in net CPP contributions. The portfolio delivered a gross investment return of 10.1% for fiscal 2013.

“All of CPPIB’s diverse investment programs played a part in delivering the Fund’s substantial increase in assets in fiscal 2013,” said Mark Wiseman, President & Chief Executive Officer, CPP Investment Board (CPPIB). “We are leveraging this growth to build the foundation for a leading global investment organization, positioning CPPIB to create enduring value for all contributors and beneficiaries in the decades ahead.”

In the ten-year period up to and including fiscal 2013, CPPIB contributed $75.1 billion in cumulative net investment income to the Fund after operating costs.

“While the strength of public equity markets was the leading factor in the solid annual return this year, CPPIB’s active investment programs also contributed to the portfolio’s performance,” said Mr. Wiseman.

“Indeed, we took full advantage of our deep internal capabilities, exceptionally long investment horizon, and global scale and scope to complete a number of sizeable and complex transactions that will continue to generate value in the years to come.”

During fiscal 2013, CPPIB completed 36 transactions of over $200 million each in 11 countries around the world.”

Read more: CPPIB Press Release

Calamos Investments to Acquire Timpani Capital Management

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Naperville, Illinois-based Calamos Investments signed a deal to acquire Milwaukee-based Timpani Capital Management LLC, which focuses on small and small-midcap growth investing. Founded in April 2008, Timpani Capital Management oversees around US$ 588 million in assets. The deal is expected to close in the second quarter of 2019.

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RDIF and Russia-Japan Investment Fund to Invest in Russian Subsidiary of SBI Holdings

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The Russian Direct Investment Fund (RDIF) and the Russia-Japan Investment Fund (launched by RDIF, the Japan Bank for International Cooperation and JBIC IG Partners) have reached an agreement with the Japanese corporation SBI Holdings to invest in SBI Bank LLC, SBI Holdings’ subsidiary in Russia. SBI Bank LLC will undergo a large-scale reorganization.

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Ocasio-Cortez and Maxine Waters to Oversee US Banking System via House

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The youngest woman ever to serve in U.S. Congress – starting at the age of 29 – already has an opponent in her sights. Freshman U.S. Representative Alexandria Ocasio-Cortez, often dubbed AOC on Twitter, was appointed to the House Financial Services Committee, where the democratic socialist will oversee Wall Street. This committee oversees the banks and financial institutions of the United States. With Republicans controlling the U.S. Senate and the White House, and the Democrats controlling the House, one can expect less game-changing bills being turned into laws in the banking sector.

While bartending and waiting tables at the Flats Fix taco bar in Union Square, Ocasio-Cortez upset the more centrist Representative Joe Crowley, Chairman of the House Democratic caucus. Encouraged by her success, other far left democrats are planning to challenge moderate democrats in the 2020 primaries. Ocasio-Cortez is also expected to further strengthen the influence of Chairwoman Maxine Waters of the House Financial Services Committee. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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