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Sovereign Wealth Fund Increases Ownership in ILFS

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The U.S. Department of Agriculture put out a projection for 2030, contending that India will go up in rankings and be crowned the third largest economy in the world behind China and the United States. India Prime Minister Narendra Modi was voted into power in 2014. After the widely-viewed election, billions worth of dollars of foreign capital from overseas sovereign wealth funds and pensions have trickled into India. Furthermore, private equity giants like KKR, TPG and Blackstone have been aggressively sourcing deals in India – sometimes at a loss. Blackstone’s investment in garment manufacturer Bangalore-based Gokaldas Exports was sold at a loss. Blackstone also lost money with its investment in Financial Technologies (India) Ltd, a programmer of trading software.

Sovereign Wealth Fund Ownership Percentage Increases

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CalPERS Names Yu Ben Meng as Chief Investment Officer

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The California Public Employees’ Retirement System (CalPERS) announced that Yu Ben Meng has been selected as the pension fund’s new chief investment officer (CIO). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Ontario Nonprofit Network Awards Mandate to OPTrust

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The Ontario Nonprofit Network (ONN), a nonprofit network for the 58,000 nonprofits in Ontario, selected OPTrust to manage defined benefit assets. ONN selected OPTrust Select, the new defined benefit solution from OPTrust. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Temasek Wants More of Ola, Careem Acquires Commut

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ANI Technologies, which owns ride-hailing app Ola, is in key talks with Temasek Holdings and South Africa-based Naspers LLC on raising capital. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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