Connect with us

SWFI First Read, January 14, 2018

Published

on

MSCI Decision Tabled for June 2018 on EM Inclusion

MSCI issued a status update on the possible reclassification of the MSCI Saudi Arabia Index to emerging market status. A decision is expected to be released in June 2018, which is part of the company’s MSCI 2018 Market Classification Review. MSCI believes the size of the Saudi Arabian listed equity market will increase with the Saudi Aramco initial public offering.

Saudi PIF Keeps Leverage Options Open

Saudi Arabia’s Public Investment Fund (PIF) is analyzing options on whether to use leverage in its activities by possibly raising US$ 5 billion in 2018 from banks.

Swiss National Bank Expects Large Profit for 2017

The Swiss National Bank (SNB) is expecting a profit of 54 billion CHF (US$ 55 billion) for the 2017 calendar year. SNB has stepped up its investment in listed equities in recent years. However, most of SNB’s profit is due to currency movements – which amounted to 49 billion CHF in 2017. The central bank holds nearly all of its assets in foreign currencies.

PineBridge Investments Hires Former SSgA EMEA Executive

PineBridge Investments scooped up Michael Karpik to be the firm’s chief operating officer. He replaces Julian Sluyters who exited PineBridge Investments.

Karpik was CEO of EMEA at State Street Global Advisors (SSgA). Additionally, Karpik served in Chairman and CEO roles across their UK, France, and Ireland entities and has significant investment, fund product, and governance experience. He also held roles in Europe as Head of Investments; Chief Operating Officer; Head of UK, Ireland, and Middle East; Global Head of Cash Investments; and EMEA Head of Cash Investments. Before his role at State Street, Karpik worked at Sallie Mae as a senior funding manager in Washington, DC.

He will report to PineBridge CEO Gregory Ehret and be based in New York.

Bank Indonesia Issues Warnings on Cryptocurrencies

Bank Indonesia issued another warning about cryptocurrencies viewing them as high risk, not a legal medium of exchange in Indonesia and prone to speculation. Many central banks have issued concerns that cryptocurrencies could be used to facilitate money laundering and fund terrorism. Others argue that physical cash already does facilitate money laundering and fund terrorism.

Why Did Virtus Investment Partners Buy Sustainable Growth Advisers?

Published

on

On February 2, 2018, Virtus Investment Partners, Inc. revealed they acquired a 70% interest in Stamford, CT-based Sustainable Growth Advisers, LP, a high-conviction U.S. and global growth equity portfolio management company, from private equity firm Estancia Capital Management and a portion of equity held by the asset manager’s partners (including Sustainable Growth Advisers’ three co-founders). Scottsdale, Arizona-based Estancia Capital Management bought a minority interest in Sustainable Growth Advisers in August 2013 when it had US$ 5.3 billion in assets. Estancia Capital Management is noted for having a number of partners being from Lovell Minnick Partners LLC, a private equity firm specializing in asset management company buyouts.

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

Continue Reading

HKMA and TRS Participates in Investment in Kakao Mobility

Published

on

Private equity firm TPG led a group of investors to acquire a minority ownership stake in Kakao Mobility Corporation, a South Korean taxi hailing service provider. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Meraas Holding Names Former KIO Executive as CEO

Published

on

Osama Al-Ayoub, the former CEO and President of the Kuwait Investment Office (KIO), was hired by property firm Meraas Holding to be its chief executive officer. KIO is a London-based unit of the Kuwait Investment Authority (KIA). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Popular

© 2008-2018 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.