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CPPIB Wiseman Goes to BlackRock, Machin Becomes CEO of CPPIB

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Mark Wiseman

Mark Wiseman

Mark Wiseman, the current President & Chief Executive Officer of Canada Pension Plan Investment Board (CPPIB) has accepted a job at BlackRock to become incoming senior managing director and a member of the Global Executive Committee (GEC). Wiseman will become Head of BlackRock’s Global Active Equity business and will become Chairman of the BlackRock Global Investment Committee, the investment sub-committee of the GEC. Wiseman will also assist BlackRock Alternative Investors. He will report to Robert S. Kapito, President of BlackRock, and will join the listed company in early September 2016. Wiseman assumed the role of President & CEO of CPPIB in 2012.

Mark Wiseman was named #2 in SWFI’s inaugural Public Investor 100, held in 2013.

“Leaving CPPIB was an extremely difficult decision and one that I deliberated over very carefully,” said Wiseman in a CPPIB press release. “CPPIB is an exceptional institution on a long, strong path forward. I have every confidence in the senior management team and will watch with pride the successful delivery of CPPIB’s long-term global strategy. The opportunity to serve CPPIB for over a decade has been a great privilege. It will remain one of the greatest highlights of my career.”

Machin to Head CPPIB

In response, CPPIB named Mark Machin as its president and CEO, effective June 13, 2016. Machin is currently CPPIB’s senior managing director & Head of International. Machin joined CPPIB in March 2012. He had a 20-year career at Goldman Sachs where he was most recently Vice Chairman of Asia ex-Japan.

Allianz Joins UK Student Housing Platform

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Since 2010, a rush of foreign capital has been plowed into the U.K. student housing market. On June 22, 2018, Greystar Real Estate Partners, LLC and Public Sector Pension Investment Board (PSP Investments) sold an interest in their joint venture called Chapter to Allianz. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Turkish President Erdogan Wins Re-Election

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Turkish President Recep Tayyip Erdogan won re-election, collecting 53% of the votes, while his closest rival Muharrem Ince generated a vote count of 31% – this is with 99% of the votes counted, according to Turkish state media Anadolu.

Erdogan gave a victory speech in Ankara, commenting, “The winner of this election is each and every individual among my 81 million citizens.”

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Will Sovereign Funds Capture Opportunity in Trump’s Space Force?

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U.S. President Donald Trump is keen on making a mark in the defense industry by launching a Space Force (joining – Army, Navy, Air Force, Marines, Coast Guard) – attempting to ensure American dominance in space. Morgan Stanley eyes a potential windfall, seeing a US$ 1 trillion economy brewing. Morgan Stanley released a note to clients commenting that a Space Force, “could address critical vulnerabilities in national security, raising investor awareness in the formation of what we see as the next trillion-dollar economy.”

Sovereign wealth funds and other asset owners are major financial backers of semiconductors, defense, and companies focused on satellites and rockets. According to SWFI data, since 2014, there has been an increase in direct sovereign wealth fund investment in the aerospace and defense industry. In 2017, sovereign funds directly invested US$ 4.76 billion in aerospace and defense.

On June 18th, President Trump said, “Very importantly, I’m here by directing the Department of Defense and Pentagon to immediately begin the process necessary to establish a space force as the sixth branch of the armed forces. That’s a big statement.”

Sovereign Wealth Investment

From a sovereign wealth fund perspective, many wealth funds are active in investing strategically in the aerospace and defense arena. Mubadala Investment Company has been active in aerospace investments such as Piaggio Aerospace SpA, while SoftBank Group has tremendous exposure to artificial intelligence companies and semiconductors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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