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Friday SWFI News Roundup, December 2, 2016

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In case you missed – Follow the Money – Episode #25

Jo Taylor Promoted to Senior Managing Director, International

Bjarne Graven Larsen, Chief Investment Officer, Ontario Teachers’ Pension Plan (OTPP), announced that Jo Taylor has been promoted into the new role of Senior Managing Director, International, effective January 1, 2017. Taylor joined OTPP in 2012 and is Regional Managing Director, Europe, Middle East and Africa and is located in the London office.

OCERS CIO to Resign in January 2017

Girard Miller, the Chief Investment Officer of the Orange County Employees Retirement System (OCERS), is resigning. This is effective, January 5, 2017. The pension is putting on a search for a CIO in January.

Brexit Minister Hints at Paying for Access, Sterling Rockets

On December 1, 2016, the British pound sterling surged to a 3-month high against the euro after David Davis, the Brexit minister, said the country would consider making payments to the European Union (EU) budget in exchange for access to EU markets.

Agustín Carstens Plans to Exit Central Bank for BIS Role

Agustín Carstens, the Governor of the Central Bank of Mexico, is leaving his post in July 2017 to lead the Basel, Switzerland-based Bank for International Settlements (BIS) in October 2017. This is a 5-year term at BIS as General Manager. He will succeed Jaime Caruana at BIS. The 86-year-old BIS is known as the central bank of central banks.

Agustín Carstens ranked #11 out of 100 on the Public Investor 100 for 2016.

Private Credit Trend: Allianz Global Investors Buys Sound Harbor Partners

Allianz Global Investors is purchasing New York-based Sound Harbor Partners, a private credit manager led by Michael Zupon and Dean Criares. Zupon is a former Partner at The Carlyle Group where he founded and led the leveraged finance business. Criares is a former Partner of The Blackstone Group where he founded and led the loan management business. The transaction is expected to close in the first quarter of 2017. Berkshire Capital Securities LLC served as M&A advisor, Kaye Scholer LLP served as legal advisor to Sound Harbor and Sullivan & Cromwell served as legal advisor to Allianz Global Investors.

Invitation Homes Secretly Files IPO

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Youtube is Crashing

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Youtube, a video service of Google, is crashing. Institutional investors are major investors in Alphabet, the parent company of Google.

At 6:41 PM on October 16, 2018, Team YouTube tweeted, “Thanks for your reports about YouTube, YouTube TV and YouTube Music access issues. We’re working on resolving this and will let you know once fixed. We apologize for any inconvenience this may cause and will keep you updated.”

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Investors Eye Tencent’s Next Moves

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Formed in Shenzhen in 1998, Chinese tech giant Tencent Holdings Limited is the largest gaming company in the world and the largest gaming market is in China. In August 2018, China’s Education Ministry disclosed its monitoring how many new games are coming online. Tencent needs approval from the Chinese government to publish games. In 2017, almost 9,000 games were approved in China compared to only 1,931 in 2018. Chinese President Xi Jinping is keen on combating shortsightedness in children from the overuse of video games.

Anime

Tencent will inject US$ $317.6 million into Chinese streaming site Bilibili in return for 12.3 % equity in the company. Bilibili is a video sharing site known for streaming anime, comics, and games. Tencent’s investment follows previous funding rounds from Tiger Global Management, Wells Fargo, JPMorgan Chase, BlackRock, and Alkeon Capital Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Ireland Strategic Investment Fund Signs MoU with IFC

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The International Finance Corporation (IFC) and the Ireland Strategic Investment Fund (ISIF) inked a Memorandum of Understanding (MoU) that will initially focus on investment opportunities in the food and agriculture sector, given its strength and importance for the Irish economy. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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