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Majority of US State of Georgia’s Public Pensions Will Be Able to Invest in Alternatives

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The State of Georgia Governor Nathan Deal signed the Employees’ Retirement System Enhanced Investment Authority Act. Effective July 1, this act will allow public retirement systems in the State of Georgia to “invest retirement system assets in certain types of alternative investments, private placements, and other private investments.” This is excluding the Georgia Teachers’ Retirement System, since its board has not addressed the legislation. Public pension funds in Georgia may invest up to 5% of assets in alternative investments by firms that have at least a minimum of US$ 100 million in assets under management. Georgia public pension funds are catching up to the alternative investment craze that other public pensions in the United States have embraced over the past two decades.

Ping An Good Doctor Lures Big Public Asset Owners

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Ping An Good Doctor, formerly known as Ping An HealthCare and Technology Company, is a Chinese online healthcare platform that is part of Ping An Insurance (Group) Company. This unit is planning to be offered in a Hong Kong initial public offering that could raise as much as 8.8 billion HKD in shares at 50.80 or 54.80 HKD per share.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Temasek and Schneider Electric Eye L&T Electrical Unit

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Singapore’s Temasek Holdings and France-based Schneider Electric are in talks to acquire Larsen & Tourbo’s electrical and automation business. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CalPERS Allocates $1 Billion Internally to a Global ESG Strategy

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In February 2018, the California Public Employees’ Retirement System (CalPERS) allocated US$ 1 billion to an internally-managed QSI Global ESG strategy. The internally-managed strategy was developed by New York-based QS Investors, LLC, a subsidiary of Legg Mason. CalPERS entered into a 5-year contract with QS Investors, with a possible spend of over US$ 1 million per annum.

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