Friday SWFI News Roundup, October 14, 2016
CPPIB’s Vigna Exits for Sagard Capital
Adam Vigna is leaving the Canada Pension Plan Investment Board (CPPIB) to become Chief Investment Officer and Managing Director of Sagard Capital, an activist equity manager. Vigna had the position of Managing Director and Head of Principal Credit Investments at CPPIB. Vigna helped CPPIB get in the private credit business in 2009. John Graham, CPPIB’s head of portfolio investment and business management in private investments, will take over Vigna’s role at the public investor.
Central Bank of Egypt Seeks to Sell Stake in Arab African International Bank
[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Banking behemoth J.P. Morgan Chase disclosed its own digital currency called JPM Coin. The digital token will be used to settle payments between clients. JPM Coin will be backed by physical U.S. dollars and be based off Quorum. Quorum is J.P. Morgan’s private Ethereum-based chain. JPM Coin plans to compete with Ripple, which created XRP, another digital currency that is used for settlements. Ripple’s main target market is cross-border payments and remittances.
The Central Bank of the United Arab Emirates and the Saudi Arabian Monetary Authority have unveiled their plans for Aber, an interbank digital currency. Both banks have indicated that Aber will be limited to financial settlements using distributed ledger technologies. It will be rolled out on a probational basis, and used by select banks within the two countries. A date for rollout has not yet been declared. A joint statement hinted at a broader application of the currency in the days ahead. If “no technical obstacles are encountered, economic and legal requirements for future uses will be considered.” Blockchains and Distributed Ledgers technologies will be employed. The plan is for ‘Proof-of-Concept’ testing, which involves studying and fully comprehending the ways modern technologies can achieve practical applications. The digital currency has the potential to become a reserve system for central payments.
[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
La Française and Canada Pension Plan Investment Board (CPPIB) formed a strategic partnership for the launch of a real estate investment and development vehicle: Société Foncière et Immobilière du Grand Paris. The joint venture between CPPIB (80%) and Caisse Fédérale du Crédit Mutuel Nord Europe (CMNE) (20%), La Française’s shareholder, will invest in major real estate projects linked to the Grand Paris infrastructure in the Greater Paris area. The parties will initially allocate €387.5 million in equity to the venture. The partnership will target regeneration and infrastructure-led investments.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
Øystein Olsen, the Governor of Norges Bank, which oversees the Norway Government Pension Fund Global (GPFG), voiced his opinion on the Norwegian government’s plans to alter the rules that regulates the country’s SWF withdrawal rules in certain circumstances. The coalition government led by Norwegian Prime Minister Erna Solberg wants to relax the limits on SWF withdrawals in specific cases. Norway’s government seeks to raid the fund to pay for the replacement of four major state buildings impacted by a terrorist attack and a crashed Royal Norwegian Navy frigate (KNM Helge Ingstad).
-
Sponsor Content2 weeks ago
Danske Bank: A Fall From Grace
-
1 week ago
Norway Sovereign Fund Gets Tougher on Executive Compensation
-
2 weeks ago
Asian AUM: Schroders Buys Thirdrock Group’s Wealth Management Business
-
2 weeks ago
Japan’s GPIF Has Rough Third Fiscal Quarter 2018
-
3 weeks ago
RDIF and Russia-Japan Investment Fund to Invest in Russian Subsidiary of SBI Holdings
-
1 week ago
Norway SWF Scales Back Private Properties, Allows Listed Real Estate
-
3 weeks ago
China’s One-Belt, One-Road Encounters Rough Waters in Greece
-
2 weeks ago
Venezuela’s Maduro Sells Gold, as USA Tightens Screws