Connect with us

Is Harvard’s Endowment Just a Stepping Stone?

Published

on

Greenwich-based Tudor Investment Corporation is one of many asset managers capitalizing on Harvard’s endowment exodus of professional investment managers. Emil Dabora, who was managing director and head of developed equity markets at Harvard Management Company (HMC), was hired to fill the newly-created position of global event-driven equity strategy at Tudor Investment. Dabora will be located in Boston and form a team to run some of the assets of the hedge fund’s BVI Global Fund. Since 2009, Dabora was employed at HMC and is the latest investment professional to leave the struggling endowment. Before HMC, Dabora worked at Caxton Associates, another hedge fund. HMC has around US$ 35.9 billion in assets, making it the largest private university endowment in the United States. For the fiscal year that ended June 30, Yale’s endowment posted a return of 20.2%, while Harvard’s endowment posted a return of 15.4%. Harvard’s endowment has been among the lowest for returns among Ivy League endowments since the collapse of the market in 2008.

Other Departures – 2014

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

Allianz Joins UK Student Housing Platform

Published

on

Since 2010, a rush of foreign capital has been plowed into the U.K. student housing market. On June 22, 2018, Greystar Real Estate Partners, LLC and Public Sector Pension Investment Board (PSP Investments) sold an interest in their joint venture called Chapter to Allianz. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Turkish President Erdogan Wins Re-Election

Published

on

Turkish President Recep Tayyip Erdogan won re-election, collecting 53% of the votes, while his closest rival Muharrem Ince generated a vote count of 31% – this is with 99% of the votes counted, according to Turkish state media Anadolu.

Erdogan gave a victory speech in Ankara, commenting, “The winner of this election is each and every individual among my 81 million citizens.”

Continue Reading

Will Sovereign Funds Capture Opportunity in Trump’s Space Force?

Published

on

U.S. President Donald Trump is keen on making a mark in the defense industry by launching a Space Force (joining – Army, Navy, Air Force, Marines, Coast Guard) – attempting to ensure American dominance in space. Morgan Stanley eyes a potential windfall, seeing a US$ 1 trillion economy brewing. Morgan Stanley released a note to clients commenting that a Space Force, “could address critical vulnerabilities in national security, raising investor awareness in the formation of what we see as the next trillion-dollar economy.”

Sovereign wealth funds and other asset owners are major financial backers of semiconductors, defense, and companies focused on satellites and rockets. According to SWFI data, since 2014, there has been an increase in direct sovereign wealth fund investment in the aerospace and defense industry. In 2017, sovereign funds directly invested US$ 4.76 billion in aerospace and defense.

On June 18th, President Trump said, “Very importantly, I’m here by directing the Department of Defense and Pentagon to immediately begin the process necessary to establish a space force as the sixth branch of the armed forces. That’s a big statement.”

Sovereign Wealth Investment

From a sovereign wealth fund perspective, many wealth funds are active in investing strategically in the aerospace and defense arena. Mubadala Investment Company has been active in aerospace investments such as Piaggio Aerospace SpA, while SoftBank Group has tremendous exposure to artificial intelligence companies and semiconductors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Popular

© 2008-2018 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.