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Friday SWFI News Roundup, November 6, 2015

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Sunsuper Hires Former CEO of JANA Investment Advisors as CIO

Brisbane-based Sunsuper, a superannuation fund with around A$ 34 billion in assets, named Ian Patrick as chief investment officer. Patrick replaces David Hartley who retired as CIO in August 2015. Patrick will be based in Sydney, Australia. Previously, Ian Patrick was CEO of JANA Investment Advisors.

84 Investment Managers Subscribed to Luminex Platform

Luminex Trading & Analytics LLC, a buy-side owned trading venue, started operations and completed its first day of trading on November 3, 2015. Luminex Trading & Analytics is guided by a board of directors which includes one representative of each of the nine leading investment managers of the consortium that formed Luminex: BNY Mellon, BlackRock, Capital Group, Fidelity Investments, Invesco, J.P. Morgan Asset Management, MFS Investment Management, State Street Global Advisors, and T. Rowe Price. 84 investment management forms are subscribed to the platform.

Allianz Global Investors Hires Former T. Rowe Price UK Institutional Sales

Allianz Global Investors hired Tim Bird as director in its U.K. institutional sales and client servicing team. He will report to Philip Dawes, head of U.K institutional at Allianz Global Investors. This is a new role and Bird is based in London. Bird was head of the U.K. and Irish institutional business at T. Rowe Price.

PIMCO Fallout, Cupps to Retire

Wendy Cupps, PIMCO’s head of product management, plans to retire at year-end. Taking over her spot is Jennifer Bridwell who is the current managing director and head of alternative products. Cupps was identified in Bill Gross’ lawsuit against PIMCO.

How Norway’s SWF Funds Real Estate Purchases

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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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