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Kuwait Posts Record Budget Surplus for FY 2011-2012

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The oil-rich state of Kuwait has posted a historical budget surplus of 13.2 billion Kuwaiti Dinars (US$ 47.5 billion) for fiscal year 2011 to 2012. The fiscal year ended March 31, 2012. Increases in the global price of oil, coupled with greater output contributed to the fiscal surplus. The price of a barrel of oil is a major factor in the probability of a fiscal surplus for Kuwait. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

CalPERS Names Yu Ben Meng as Chief Investment Officer

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The California Public Employees’ Retirement System (CalPERS) announced that Yu Ben Meng has been selected as the pension fund’s new chief investment officer (CIO). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Ontario Nonprofit Network Awards Mandate to OPTrust

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The Ontario Nonprofit Network (ONN), a nonprofit network for the 58,000 nonprofits in Ontario, selected OPTrust to manage defined benefit assets. ONN selected OPTrust Select, the new defined benefit solution from OPTrust. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Temasek Wants More of Ola, Careem Acquires Commut

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ANI Technologies, which owns ride-hailing app Ola, is in key talks with Temasek Holdings and South Africa-based Naspers LLC on raising capital. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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