Connect with us

SWFI First Read, January 10, 2017

Marty Chavez Named CFO of Goldman Sachs

R. Martin “Marty” Chavez was named Chief Financial Officer at Goldman Sachs. Previously, Chavez was Chief Information Officer at Goldman Sachs. Chavez joined Goldman Sachs in 1993 in the J. Aron Currency and Commodities division. From 1997 to 2000, he was Global Head of Energy Derivatives at Credit Suisse Financial Products. In 2000, Chavez co-founded Kiodex, Inc. and was Chairman and Chief Executive Officer until 2004. In 2006, Chavez was named Partner at Goldman Sachs.

Elisha Wiesel Named Chief Information Officer of Goldman Sachs

Elisha Wiesel was named Chief Information Officer at Goldman Sachs. He is the son of Elie Wiesel, a Holocaust survivor and Nobel Peace Prize winner. Elisha Wiesel joined Goldman Sachs in 1994. He was most recently Chief Risk Officer of the Trading Division at Goldman Sachs. Wiesel replaces R. Martin Chavez.

CDP and EIF Form Technology Transfer Platform

Cassa depositi e prestiti (CDP) and the European Investment Fund (EIF) formed a platform called ITAtech to finance the transfer of technology to businesses. CDP is allocating €100 million to the platform, while the EIF is equally contributing €100 million as well.

British Business Bank Boosts £40 Million in Lending Using Funding Circle

British Business Bank Investments Ltd, the commercial arm of the government-owned British Business Bank, plans to lend an additional £40 million to small businesses in the United Kingdom. This is being conducted through London-based Funding Circle Limited, a direct lending platform company.

Industriens Pension Buys Aarhus Office Building

Industriens Pension, a Danish pension fund for industrial workers, acquired an office tower in Aarhus from Standard Life. The building is called Europahuset, located at Europaplads 2.

Korean Investor Money to Acquire European Parliament-Leased Building in Brussels

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

NZ Super Resumes Government Contributions

The New Zealand Superannuation Fund (NZ Super) has resumed receiving contributions from the New Zealand government in the face of rising obligations as an increasing proportion of the country’s population approaches retirement. According to a statement released by the fund’s managing Board of Guardians, the government plans on investing US$ 5.3 billion into NZ Super between now and June of 2022, with the first payment scheduled for December 15, 2017.

Policymakers believe the resumption of government contributions, which were halted in July of 2009, is expected to ease the burden on the country’s current taxpayers and future generations. Withdrawals from NZ Super are expected to peak in 2078, at which point the fund will be covering 12.8% of New Zealand’s pension obligations. The new wave of contributions will initially be invested in passive, low cost equity and bond investments, according to Catherine Savage, Chair of the Guardians.

Recent Performance & Leadership Change

NZ Super has enjoyed one of its best annual performances since its founding in 2001, with a reported return of 20.7% before tax for a 12-month trailing period ended June 30, 2017, up 5 billion NZD (US$ 3.6 billion) compared to 2016. NZ Super generated 21.85% annual return in its global equities, developed market portfolio, according to its 2017 annual report.

NZ Super faces a changing of leadership in the coming year with the exit of chief executive Adrian Orr, who will leave the Fund officially in March of 2018 to serve a five-year term as Governor of the Reserve Bank of New Zealand. Mr. Orr has earned a spot numerous times in the Sovereign Wealth Fund Institute’s Public Investor 100 annual ranking over the years, most recently in 2017 at #3.

Continue Reading

iZettle Raises US$ 47 Million in Series E, Prepares for 2018 Listing

Card transaction platform iZettle AB has raised another US$ 47 million in Series E funding, this time with new backing from Sweden’s AP4 and early-stage venture capital firm Dawn Capital. Previous investors in the Stockholm-based payments business include American Express, MasterCard, Intel, and Spain’s Santander Group. With US$ 235 million in equity to date, iZettle is quickly approaching an estimated valuation of US$ 1 billion.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Concerns Raised at Potential BlackRock Takeover of CalPERS’ Private Equity

The California Public Employees’ Retirement System (CalPERS) has been analyzing options on what to do with its massive US$ 26 billion private equity program. The pension system has embraced the mantra of reducing cost, reducing complexity and reducing risk, the hallmark of its program called “INVO 2020”. CalPERS also wants less, but more strategic relationships with external money managers. At one point, CalPERS was contemplating increasing its direct investment staff to model Canadian pension funds such as Canada Pension Plan Investment Board (CPPIB), OMERS and the Ontario Teachers’ Pension plan. The pendulum has begun to swing the other way as reported earlier by SWFI research staff.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Popular

© 2008-2017 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.