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SWFI First Read, March 6, 2018

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University of Virginia Investment Management Co. Hires New CEO/CIO

The University of Virginia Investment Management Co. (UVIMCO) hired Robert Durden as its new chief executive officer and chief investment officer. UVIMCO oversees the University of Virginia’s endowment. He will start at UVIMCO effective April 2018. Robert Durden is leaving his role as CIO of the Texas Children’s Hospital in Houston, where he oversees $3 billion of investable assets. Before Durden being with Texas Children’s Hospital starting in 2013, he was Managing Director and Head of Private Assets for Morgan Creek Capital Management.

PIMCO and ISIF to Give Finance Ireland More Financial Firepower

The Pacific Investment Management Company (PIMCO) and Ireland Strategic Investment Fund (ISIF) agreed to commit more capital into Finance Ireland at €15 million each. In 2015, ISIF committed €30 million into Finance Ireland, while PIMCO kicked in €25 million.

BNY Mellon Hires Gerry Cosgrove

Gerald “Gerry” Cosgrove was named Head of Global Consultant Relations for BNY Mellon Asset Management North America. This is a new position. BNY Mellon Asset Management North America was formed by BNY Mellon Investment Management on February 1, 2018. Previously, Cosgrove was Managing Director and Head of Consultant Relations at RBC Global Asset Management – working in Boston.

Temasek Eyes Big Investment into India Taxi App Ola

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BlackRock Contemplates Stake in Eurizon

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Asset management giant BlackRock is contemplating purchasing a 30% ownership stake in Intesa SanPaolo’s asset management unit called Eurizon Capital SGR S.p.A. BlackRock is keen on growing its technology business and increase market adoption of its Aladdin platform.

Intesa has been working with UBS to seek out strategic options for Eurizon. Intesa is keen on maintaining control over Eurizon.

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SWFI First Read, June 22, 2018

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JPMorgan Fund Buys 40% of Oxford Properties’ French Portfolio

A fund advised by JP Morgan Asset Management committed €400 million in Oxford Properties’ French portfolio. Essentially, Oxford Properties sold a 49.9% non-managing interest in 32 Rue Blanche, 92 Avenue de France and Paris Bastille. Oxford Properties made its maiden investment in Paris in 2014 when it acquired 32 Rue Blanche.

Oxford Properties is the real estate unit of OMERS.

Temasek Explores Further Cash Commitments to FirstCry

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DOL Fiduciary Role is Struck Down by Fifth Circuit Court of Appeals

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The U.S. Court of Appeal, Fifth Circuit, confirmed a March 15th decision to strike down the U.S. Department of Labor’s (DOL) fiduciary rule. The fiduciary rule is a series of seven different rules that broadly interpret the term “investment advice fiduciary” and redefine exemptions to provisions concerning fiduciaries that appear in the Employee Retirement Income Security Act of 1974 (ERISA). The 5th U.S. Circuit Court of Appeals overturned a decision by a Dallas federal court that had upheld the DOL fiduciary rule.

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