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KIC Embraces New Warren Buffett Style

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The US$ 72 billion Korea Investment Corporation (KIC) is undergoing an organizational metamorphosis. With a new chief at the helm, Ahn Hong-chul, who was the former commissioner of Invest Korea, and other personnel shifts, the Korean sovereign wealth fund is commencing on their biggest restructuring. Dong-ik Lee stepped down in 2013 to allow Ahn Hong-chul a fresh start to retool the KIC.

New Research Centre

The KIC is establishing a new research centre, similar to what other sovereign funds like Norway’s sovereign wealth fund and Singapore’s GIC have done. An in-house research unit was one of the reforms Ahn wanted to undertake by relying less on private research firms. The centre will have two divisions, one focusing on global macroeconomic data, currencies and interest rates. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Capital Constellation Backs Middle Market PE Platform

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Capital Constellation is the investment platform owned by the Alaska Permanent Fund Corporation (APFC), RPMI Railpen, and Wafra Inc. on behalf of the Public Institution for Social Security of Kuwait (PIFSS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Canadian Pension Giants Could Support Trans Mountain Pipeline Deal

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The British Columbian (B.C.) government and indigenous groups publicly oppose the Trans Mountain Pipeline project over a number of issues, which include environmental concerns (potential pipeline spills) and land protections. The threat of project derailment sent jitters to Houston-based Kinder Morgan, Inc., requiring the company to halt non-essential spending on Trans Mountain Pipeline L.P. Calgary-based Kinder Morgan Canada Limited, which owns the pipeline, is a listed company that is 70% owned by Kinder Morgan and 30% owned by stock market investors (float). Kinder Morgan Canada hired TD Securities to explore options regarding the future of the pipeline.

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

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Goldman Sachs Poised to Name David Solomon as New CEO

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Goldman Sachs is poised to name David M. Solomon, the firm’s president, as its new CEO, replacing Lloyd C. Blankfein. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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