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SWFI First Read, July 5, 2018

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Antoine Josserand Joins Pemberton

Antoine Josserand was hired as Head of Business Development at Pemberton Capital Advisors LLP, an asset manager focused on credit strategies that is supported by Legal & General. Previously, he was Head of International Fund Distribution for Europe, Middle East and Africa (EMEA) at Citigroup.

Dyal Capital Partners Scoops Up Stakes in Round Hill Capital and HPS Investment Partners

Dyal Capital Partners acquired minority interests in London-based Round Hill Capital and New York-based HPS Investment Partners. Round Hill Capital is a real estate investment firm. HPS Investment Partners focuses on global credit strategies. Dyal Capital Partners is part of Neuberger Berman.

West Midlands Pension Fund Acquires Bristol Office Property

West Midlands Pension Fund acquired a Bristol office property for £27.6 million from the UK Commercial Property REIT. The property sold was the 1 Rivergate office building on Temple Quay in Bristol city centre.

Jeremy Taylor Gets Promoted at Lazard Asset Management

Following the retirement of Bill Smith, Jeremy Taylor took over as UK CEO at Lazard Asset Management. In addition, Taylor is assuming responsibility for the asset manager’s business in the Middle East and other portions of Europe. Taylor was Managing Director and Global Co-Director of Research at Lazard Asset Management. Taylor joined the firm in 2003 from UBS.

Southwark Council Gives Approval on Get Living Development

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Koch Brothers Kick Big Money into ERP Cloud Software Company Infor

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New York-based Infor is an enterprise cloud software company. Infor raised US$ 1.5 billion from existing shareholders, Golden Gate Capital and Koch Equity Development LLC. Koch Equity Development is the investment and acquisition subsidiary of Koch Industries, Inc. Infor has 17,300 employees. At fiscal year 2018, Infor claims it generated over US$ 3 billion in revenue. Infor states that over 72% of all hospitals in the United States run Infor applications. Infor could be heading toward an initial public offering (IPO) or possibly be acquired by a company like Oracle Corporation or Salesforce. Charles E. Phillips is the CEO of Infor and before heading it was Co-President of Oracle from 2003 to 2010.

On February 21, 2017, Koch Equity Development invested US$ 2 billion into Infor. Koch Industries was a customer of Infor before it became an investor in the company. Golden Gate Capital made its first investment in Infor in 2002.

Matt Flamini is the President of Koch Equity Development. Jim Hannan is Koch Executive Vice President and CEO of Enterprises for Koch Industries, Inc.

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Could Australia’s Future Fund Offer a Low-Fee Superannuation for its Citizens?

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Australia’s Scott Morrison government may soon allow the country’s Future Fund to offer low-fee superannuation accounts. Aware of the proposal, Prime Minister Morrison stressed that offering Australia a low-fee, government-managed superannuation fund as a default option is not government policy.

However, many proponents of this model believe it would create competition in the country’s US$ 2.7 trillion dollar retirement system. The Future Fund Chairman, Peter Costello, and economist Nicholas Gruen, CEO of Lateral Economics, put forth the idea, and it is quickly gaining support. This comes in the wake of Australians learning that they were losing US$ 3.8 billion annually in high-fee, underperforming accounts, and many were mistakenly being charged fees with no accompanying service provided. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Saudi and Other Gulf Country Bonds to Join JPMorgan Emerging Market Bond Index

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In a boost for Gulf-based debt, JPMorgan is adding their debt compositions to two influential emerging market bond indexes. These emerging market indexes are the most widely tracked among asset managers in the industry. Saudi Arabia, the United Arab Emirates, Bahrain, Kuwait, and Qatar are being added to the J.P. Morgan EMBI Global Diversified Index and the EMBI Global, starting January 31, 2019. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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