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SWFI First Read, July 20, 2016

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Philadelphia Pension CIO Passed Away

Michael Donatucci, the newly-hired chief investment officer (CIO) at the Philadelphia Board of Pensions and Retirement, died on July 15, 2016. Donatucci was 30 years old. He joined the pension as CIO on June 1, 2016. He had been a client investment strategist at SEI Investments.

Temasek Makes Offer to Buyout SMRT

Singapore’s Temasek Holdings has offered 1.18 billion SGD (US$ 869 million) to acquire the remaining shares of SMRT Corporation, the country’s transport operator. The offer values SMRT at 2.565 billion SGD. The financial advisor for SMRT was Bank of America Merrill Lynch. The financial advisor for Temasek was Credit Suisse.

Kessler Topaz Meltzer & Check Files Lawsuit Against Inovalon

Bowie-based Inovalon Holdings, Inc. is a technology company that provides cloud-based data analytics and data-driven intervention platforms to the healthcare industry in the United States. Law firm Kessler Topaz Meltzer & Check, LLP has filed a shareholder class action lawsuit against Inovalon Holdings, Inc. on behalf of purchasers of the company’s common stock issued pursuant or traceable to the registration statement and prospectus filed in connection with Inovalon’s February 12, 2015 initial public offering (IPO) of common stock. The lawsuit alleges that the IPO offering materials were negligibly prepared, contained untrue statements of material facts, and omitted to state other necessary facts. Among other things, the complaint alleges that the IPO offering materials failed to disclose the substantial revenues Inovalon derived from sales in New York City and the State of New York.

Monica Lai Appointed Senior Investment Director at Alfred P. Sloan Foundation

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ADIA Seeks to Sell KIC Headquarters

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The Abu Dhabi Investment Authority (ADIA) is seeking to sell the building that houses the headquarters of the Korea Investment Corporation (KIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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BMO and OTPP Test Blockchain Canadian Dollar Debt Deal

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The Bank of Montreal (BMO) and the Ontario Teachers’ Pension Plan (OTPP) participated in a landmark blockchain Canadian-dollar debt transaction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Just Group Acquires Corinthian Pension Consulting

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Just Group plc acquired a 75% ownership stake in the holding company of Corinthian Pension Consulting Limited (Corinthian Pension Consulting). Operating in the institutional world for over 12 years, Corinthian Pension Consulting provides advisory services to defined-benefit pension scheme trustees and scheme sponsors undertaking bulk scheme exercises. The remaining 25% will be retained by current shareholders of Corinthian Pension Consulting. Robert MacGregor will continue to lead Corinthian Pension Consulting, as its Chief Executive Officer. Furthermore, Corinthian Benefits Consulting Limited and Corinthian Affinity Solutions Limited will continue to operate as before, becoming part of a newly formed holding company, Corinthian Group Holdings Limited.

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