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Nationwide Promotes Chris Graham to CIO

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Insurer Nationwide promoted Chris Graham to chief investment officer and head of investment strategies. This is a new role. He spent around 11 years as a portfolio manager at Nationwide in the area of alternative investments. Graham will report to Mike Spangler, President of Nationwide Funds. Before Graham joined Nationwide, he was a private wealth consultant. He has a bachelor’s degree in finance from Hampton University and an MBA from the University of Pennsylvania’s Wharton School.

Spangler in a press release commented, “Over the past eleven years at Nationwide he has gained a reputation as a strong collaborator with expertise in portfolio and risk management, which will be beneficial to the strong relationships we’ve established with our subadvisors and firm partners.”

SWFI First Read, September 19, 2018

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QIA Eyes Investment in Chinese Lender Lufax

The Qatar Investment Authority (QIA) is in talks about a possible investment into Shanghai-based Lufax, one of China’s largest online lenders. The seller of the possible stake is China’s Ping An Insurance (Group) Co. Ltd. Lufax’s official name is Shanghai Lujiazui International Financial Asset Exchange Co. Ltd.

Wealth Funds Back Hotpot Giant

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Japanese Government Capital Provides Initial Life for Texas Bullet Train

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Dallas-based Texas Central Partners, LLC is the developer of a proposed high-speed rail system, dubbed the Texas Bullet Train, between Dallas and Houston. Project costs are estimated between US$ 12 billion to US$ 15 billion. The developer secured US$ 300 million in project loans from Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) and the Japan Bank for International Cooperation (JBIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DOJ Investing Tesla Over Musk Comments

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The U.S. Department of Justice (DOJ) is conducting a fraud investigation over Tesla as its CEO Elon Musk made public statements on twitter. This is a criminal probe. In addition, earlier, SWFI reported the U.S. Securities and Exchange Commission (SEC) is conducting a civil inquiry into Elon Musk regarding his statements.

This all surrounds Musk tweeting in August that he was thinking of taking Tesla private and had “funding secured” for the transaction. Both government authorities are seeing if Musk misled investors and violated federal securities laws with his public statements.

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