Connect with us

Gross Effect: NYC Retirement Terminates $4.9 Billion of PIMCO Assets

Two bond strategies managed by PIMCO for the New York City Retirement Systems (NYCERS) have been terminated. The fixed income strategies totaled US$ 4.9 billion in assets. The money was moved at the end of December 2014. US$ 3.5 billion was geared toward mortgage bond strategies and US$ 1.4 billion allocated to government-sector strategies. The money has been reallocated to existing fixed income managers in the pension lineup. BlackRock, State Street Corporation and Fischer Francis Trees & Watts scooped up the US$ 1.4 billion in government bond strategies. BlackRock, Goldman Sachs, Wellington Management, Neuberger Berman and Amundi Smith Breeden grabbed the US$ 3.5 billion in mortgage bond strategies. PIMCO has managed money for NYC retirement funds since 1987.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Turkey Wealth Fund Corrals Investors Toward Domestic Projects

The Turkey Wealth Fund is continuing talks with other global asset owners and financial institutions to lure capital toward projects and assets within the country. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Ardian Auctions Off €1 Billion in Infrastructure Assets to APG

French private equity giant Ardian has auctioned off an undisclosed stake in a portfolio of European infrastructure assets valued at €1 billion to Dutch asset owner manager APG Investments. APG, which first invested in the portfolio in 2006, plans on buying out partnership interests in the portfolio held by other investors. French multinational insurance firm AXA SA will retain its stake as a co-owner of the portfolio alongside APG, with Ardian staying on as asset manager and advisor. The transaction remains subject to regulatory approval.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Tribal Council Approves Cherokee Nation Sovereign Wealth Fund Act

Tahlequah, Oklahoma-based Cherokee Nation Tribal Council approved the creation of the Cherokee Nation Sovereign Wealth Fund Act to establish a fund to ensure the continuation of tribal operations and the general welfare of tribal citizens.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Popular

© 2008-2017 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.