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Friday SWFI News Roundup, June 12, 2015

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NBIM Plans to Open Tokyo Office

Norges Bank Investment Management (NBIM), the manager of Norway’s sovereign wealth fund, plans to open an office in Tokyo. This is in anticipation of the wealth fund participating in real estate deals in Asia. Currently, NBIM is recruiting and building a team for the proposed Tokyo office. This would NBIM’s third office in Asia. The other Asian offices are in Shanghai and Singapore.

Michael Ho to be CIO of Alternatives at SSgA

Michael Ho has been promoted to chief investment officer of alternatives at State Street Global Advisors (SSgA). In this new position, Ho will oversee a team that will manage hedge fund strategies. As of March 31, 2015, SSgA managed US$ 140 billion in alternative assets. Ho was chief investment officer of active emerging markets equities and global macro at the company.

Goldman Sachs Asset Management Wins $1.25 Billion Worth of Mandates from CalPERS

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White House Nominates Heath Tarbert for CFTC Chairman

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The White House announced Heath P. Tarbert will be nominated to serve as Commissioner and Chairman of the Commodity Futures Trading Commission (CFTC). Tarbert currently serves as Assistant Secretary for International Markets at the U.S. Treasury Department. Before joining the U.S. Treasury, Tarbert was a Partner at law firm Allen & Overy. Tarbert was confirmed by the U.S. Senate for his current Treasury post at 87 (yes) to 8 (no).

Upon Senate confirmation, Tarbert’s CFTC term would start on April 14, 2019 and last for five years. Tarbert is taking over from J. Christopher Giancarlo whose term ends in April 2019. Tarbert will need a U.S. Senate confirmation to take the head CFTC post.

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KIA Could Sell Stake in North Sea Energy Business

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The Kuwait Investment Authority (KIA), through its unit Wren House Investment Management, is nearing a deal to sell a 40% stake in its North Sea energy business to JPMorgan Asset Management. In July 2018, KIA closed on a deal to acquire oil and gas pipeline firm North Sea Midstream Partners from ArcLight Capital.

More details to follow –

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Pensioenfonds PGB Hires BMO Global for Equity Protection Strategy

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Pensioenfonds PGB is a Dutch multi-sector pension fund. PGB awarded a mandate to implement a protection strategy for its €12 billion equity portfolio to BMO Global Asset Management. PGB is a €26.5 billion fund. PGB has been using BMO Global’s responsible engagement overlay since 2017.

The Chief Investment Officer of PGB is Harold Clijsen.

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