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Japan’s GPIF Partners with OMERS and DBJ on Infrastructure

infrastructureJapan’s Government Pension Investment Fund (GPIF) is moving forward with its infrastructure investment program by partnering with the Development Bank of Japan (DBJ) and the Ontario Municipal Employees’ Retirement System (OMERS). OMERS is a major public institutional investor involved in infrastructure investing globally.

Approaching US$ 1.3 trillion in assets, the world’s biggest pool of retirement assets is trimming Japanese government bonds (JGBs) and using that allocation for infrastructure. Norway’s Government Pension Fund Global made similar modifications in its asset allocation by chopping fixed income and using that portion for institutional real estate piece.

At a formal briefing today, as much as US$ 2.7 billion could be deployed into infrastructure by the GPIF in the next few years. Taking into consideration the massive size of the GPIF, that would be around 0.2% of current assets under management.

The GPIF has taken a cautious approach to investing and conducted a series of studies on alternative assets and infrastructure. The GPIF was attracted to the concept of capturing a liquidity premium and broader asset diversification.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Former U.S. Treasury Secretary Jacob Lew Joins Lindsay Goldberg

New York-based buyout firm Lindsay Goldberg LLC has announced that Former U.S. Treasury Secretary Jacob J. Lew will join the company as a partner focusing on investments across sectors, institutional relationships, and firm management, according to an announcement released on Monday, November 20. Lindsay Goldberg is a private equity firm co-founded by Alan E. Goldberg and Robert D. Lindsey, both veterans of Morgan Stanley in which they worked in the Transaction Development Group.

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San Diego City Employees Retirement System to Reduce PE and Infrastructure for FY 2018

The San Diego City Employees’ Retirement System plans to reduce annual commitments to private equity and infrastructure down to US$ 75 million for fiscal year 2018. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Institutional Investors Remain Skeptical as Bitcoin Continues to Rise

Bitcoin has continued to rally over the past month – hitting a record US$ 8,224 in the early hours of November 20 – and institutional investors are beginning to take notice of the cryptocurrency’s increasing popularity. With a market value of more than US$ 130 billion, the digital currency has seen unprecedented growth of over 700% over the past year. But Bitcoin’s rise has also been marked by a number of volatile slumps, leaving institutional investors divided over its durability as a long-term store of value and wondering whether to get in on the action. Despite these headwinds, more than 100 hedge funds have been formed to trade in digital currencies.

Split Consensus on Wall Street

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