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San Diego County ERA CEO White Resigns

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San Diego County Employees’ Retirement Association CEO Brian White has resigned effective March 30, 2015. The retirement board voted 8 to 1 to pass the mutual separation and severance deal, which includes nearly one year’s pay for Brian White. Board Vice Chairman David Myers voted “no” on the measure. San Diego-based Efficient Market Advisors, LLC President David Wescoe, who is the pension’s management consultant, will fill in as interim CEO until a replacement is made. Before his role at Efficient Market Advisors, Wescoe was CEO of Motion Picture Industry Pension and Health Plans and former CEO of San Diego City Employees’ Retirement System.

View Institutional Investor Profile of San Diego County Employees Retirement Association

According to a news release, “The board and Mr. White have amicably agreed that Mr. White’s tenure as SDCERA’s chief executive officer will end March 30, 2015.”

San Diego County Employees Retirement Association was the California county pension that dumped its outsourced CIO program that was managed by Houston-based Salient Partners. The retirement association was paying Salient Partners US$ 10 million a year to perform outsourced CIO duties.

Mauritius Aims to Sell Citizenship and Passports to Bolster National Wealth Fund

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The island country of Mauritius plans to offer foreigners a chance to obtain country citizenship in exchange for a non-refundable contribution of US$ 1 million to the national sovereign wealth fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CapitaLand Aims to be a Real Estate Funding Machine

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CapitaLand Investment Management, a real estate investment management arm of Singapore-based CapitaLand, hired Caleb Shen as managing director for fund management. CapitaLand is keen on growing its real estate fund management business. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Treasurer Perrottet Reveals the NSW Generations Fund

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New South Wales wants its own Future Fund.

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