Connect with us

Petrobras to Pay $2.95 Billion Settlement in U.S. Class-Action Suit

Published

on

Brazilian state-run oil company Petróleo Brasileiro S.A, also known as Petrobras, announced that it has entered into an agreement in principle to pay US$ 2.95 billion to settle a securities class-action lawsuit brought forward by investors in the United States District Court for the Southern District of New York. The petitioners claim they incurred large losses on Petrobras securities bought between 2010 and 2015 that were artificially inflated on the energy company’s balance sheet as part of a massive corruption scheme uncovered by Brazilian Federal Police in 2014 involving company executives and politicians at the highest levels of Brazil’s government.

The development comes as good news for the oil company, which has fought a three-year legal battle to disentangle itself from the 2014 investigation known as Operation Car Wash and was expected to pay as much as US$ 10 billion in potential liabilities to investors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Capital Constellation Backs Middle Market PE Platform

Published

on

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. ]

Continue Reading

Canadian Pension Giants Could Support Trans Mountain Pipeline Deal

Published

on

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. ]

Continue Reading

Goldman Sachs Poised to Name David Solomon as New CEO

Published

on

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. ]

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.