Friday SWFI News Roundup, March 27, 2015

TRS Delivers 8.51% for 2014 Return

The Teacher Retirement System of Texas posted an 8.51% return for 2014, beating its policy index by 0.04%. The highest performing asset class for the pension system was stable value which posted 21.4%. Real return asset class posted 10.2%, followed by risk parity at 8.1% in return. Directional hedge funds for the system generated -0.7% in return.

BlackRock Intrigued by Mexican Infrastructure, Invests in Energy Sector

BlackRock is seeking to allocate capital to infrastructure developments in Mexico, specifically in energy. BlackRock just inked a deal with Petróleos Mexicanos (PEMEX). BlackRock and First Reserve kicked in US$ 900 million for a 45% stake in a pipeline project, Los Ramones II pipeline. The energy infrastructure feeds U.S. natural gas into central Mexico. The pipeline is expected to be completed at the end of 2016.

BlackRock already has a presence in Mexico City through its iShares business. In addition, BlackRock’s infrastructure investment group has about US$ 6 billion in assets under management.

SAFE Grants Fidelity Investments QFII Quota Exceeding US$ 1 Billion

In the past, only sovereign wealth funds, central banks and other official institutions, were allowed Qualified Foreign Institutional Investor (QFII) quotas of an excess of US$ 1 billion. China’s State Administration of Foreign Exchange (SAFE) has granted Fidelity Investments Management (Hong Kong) Ltd a total quota of US$ 1.2 billion to invest in Chinese listed equities and bonds. This is the first time a foreign money manager has been granted a QFII quota exceeding US$ 1 billion.

Saudi Government Re-Orgs Public Institutional Investor Funds

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