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Nigeria Targets 5 Billion for SWFs, Playing Catch up to Angola

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The Nigerian Ministry of Finance plans to augment the size of Nigeria’s sovereign wealth funds to US$ 5 billion within the next three years. Currently, the Nigerian Sovereign Investment Authority (NISA) manages US$ 1 billion. The authority will start making investments in March 2013 after board approval. Investments from the infrastructure fund of the NISA will begin in the second half of 2013.

Political tension regarding oil resource money has existed between the Nigerian government and state governors. This has been an impediment of monetary transfers to the NISA.

Trump Goes Across the Political Aisle to Nominate Nellie Liang to Federal Reserve Board

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U.S. President Trump nominated Nellie Liang to the Federal Reserve Board of Governors. She is a long-time staff member of the Federal Reserve, joining in 1986 as a research economist. Liang must still be confirmed by the U.S. Senate pending the job post. She is a graduate of University of Notre Dame in 1979 and received her doctorate from the University of Maryland in 1986.

Ms. Liang is a registered Democrat.

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Ivanhoé Cambridge to Acquire Callahan Capital Properties

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Ivanhoé Cambridge, a unit of Caisse de dépôt et placement du Québec (CDPQ), signed a deal to acquire Callahan Capital Properties (CCP). Eastdil Secured advised on the transaction. CCP is Ivanhoé Cambridge’s investment partner of six years.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Manager of China’s Foreign Reserves Could be CalPERS Next CIO

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Numerous financial media outlets, including the Wall Street Journal (WSJ), are reporting that Ben Meng is in key position to become Chief Investment Officer of CalPERS. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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