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SWFI First Read, December 11, 2016

Gary Parr Retires from Lazard for Executive Role at Apollo Global Management

Gary W. Parr is leaving his role as Vice Chairman of investment bank Lazard. Parr is joining alternative investment manager Apollo Global Management LLC in January 2017. He will be a senior managing director and co-chairman of Apollo’s management operating committee. Parr joined Lazard in 2003. Apollo Global Management is a Lazard client. Parr has also held executive roles at Morgan Stanley and Wasserstein Perella.

GPT’s Wholesale Office Fund Seeks to Buy ADIA’s Interest in One Eagle Street

The Wholesale Office Fund managed by GPT Group is nearing a deal to fully acquire One Eagle Street in Brisbane. It is one of the largest commercial towers in the city. GPT Group already owns a share of the building and seeks to buyout the Abu Dhabi Investment Authority’s ownership share.

Dubai Investments Seeks Loan for Mirdif Residential Development

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Former U.S. Treasury Secretary Jacob Lew Joins Lindsay Goldberg

New York-based buyout firm Lindsay Goldberg LLC has announced that Former U.S. Treasury Secretary Jacob J. Lew will join the company as a partner focusing on investments across sectors, institutional relationships, and firm management, according to an announcement released on Monday, November 20. Lindsay Goldberg is a private equity firm co-founded by Alan E. Goldberg and Robert D. Lindsey, both veterans of Morgan Stanley in which they worked in the Transaction Development Group.

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San Diego City Employees Retirement System to Reduce PE and Infrastructure for FY 2018

The San Diego City Employees’ Retirement System plans to reduce annual commitments to private equity and infrastructure down to US$ 75 million for fiscal year 2018. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Institutional Investors Remain Skeptical as Bitcoin Continues to Rise

Bitcoin has continued to rally over the past month – hitting a record US$ 8,224 in the early hours of November 20 – and institutional investors are beginning to take notice of the cryptocurrency’s increasing popularity. With a market value of more than US$ 130 billion, the digital currency has seen unprecedented growth of over 700% over the past year. But Bitcoin’s rise has also been marked by a number of volatile slumps, leaving institutional investors divided over its durability as a long-term store of value and wondering whether to get in on the action. Despite these headwinds, more than 100 hedge funds have been formed to trade in digital currencies.

Split Consensus on Wall Street

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