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LAGGING: BlackRock Trails Other Managers in SPN Performance

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BlackRock NY

Increasingly, asset owners such as sovereign wealth funds and mega public pensions are demanding global asset managers to do more than just manage money – the owners crave perspicacious advice, education for internal staff and ongoing high-quality research provided to staff members. New York-based BlackRock, the largest private asset manager on planet Earth, is part of a strategic partners program for the Teacher Retirement System of Texas (TRS). This program is called the Public Markets Strategic Partnership Network, otherwise known as SPN. TRS chose 4 managers for the bespoke program: BlackRock, JP Morgan, Morgan Stanley and Neuberger Berman. All of these asset managers were given US$ 1 billion each to manage back in July 2008.

How Did They Perform?

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Ascendas-Singbridge Acquires Three Hotels in Osaka

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Singapore’s Ascendas-Singbridge has acquired three hotels in Osaka for 10.29 billion JPY to tap tourism growth in Japan’s third-largest city.

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BlackRock Contemplates Stake in Eurizon

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Asset management giant BlackRock is contemplating purchasing a 30% ownership stake in Intesa SanPaolo’s asset management unit called Eurizon Capital SGR S.p.A. BlackRock is keen on growing its technology business and increase market adoption of its Aladdin platform.

Intesa has been working with UBS to seek out strategic options for Eurizon. Intesa is keen on maintaining control over Eurizon.

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SWFI First Read, June 22, 2018

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JPMorgan Fund Buys 40% of Oxford Properties’ French Portfolio

A fund advised by JP Morgan Asset Management committed €400 million in Oxford Properties’ French portfolio. Essentially, Oxford Properties sold a 49.9% non-managing interest in 32 Rue Blanche, 92 Avenue de France and Paris Bastille. Oxford Properties made its maiden investment in Paris in 2014 when it acquired 32 Rue Blanche.

Oxford Properties is the real estate unit of OMERS.

Temasek Explores Further Cash Commitments to FirstCry

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