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Should CalPERS Outsource its Private Equity Portfolio to BlackRock?

The California Public Employees’ Retirement System (CalPERS) is a bellwether pension investor in private equity, investing in funds, co-investments and separate accounts – even directly into the private equity firms themselves.

CalPERS has contemplated the idea of building an internal private equity direct deal team (not just allocators to managers), similar to what the Canadian pension giants like Ontario Teachers’ Pension Plan (OTPP) and Canada Pension Plan Investment Board (CPPIB) have accomplished. At an offsite meeting, CalPERS debated its in-house capabilities and whether it should pursue a large direct investment strategy. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Riksbank Appoints Permanent Head of Financial Stability

Sveriges Riksbank has appointed Olof Sandstedt to lead its financial stability department on a permanent basis, effective November 14, 2017. Sandstedt has been the department’s acting head since June 7, 2017 when he took over for Kasper Roszbach, who departed Riksbank to take up a new position at Norges Bank as director of its research division.

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Mubadala Inches Closer to Invepar Ownership

Since the beginning of the year, Abu Dhabi-based Mubadala Investment Company has been looking at owning the distressed Brazilian infrastructure company Invepar SA for quite some time. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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KDC’s Latest Acquisition a Breath of Fresh Air

Knowlton Development Corporation (KDC) has made its latest acquisition with the purchase of Aromair Fine Fragrance Company Inc., a U.S. subsidiary of Aromair Group that specializes in air care products, from London-based Strategic Value Partners. The terms of the transaction, which was completed on November 8, were not disclosed. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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