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SWFI First Read, May 10, 2017

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CDPQ to Finance Solar Rooftops

On May 1, 2017, Caisse de dépôt et placement du Québec (CDPQ) announced that it will provide C$ 107 million of debt financing to Toronto-based Potentia Renewables Inc. Potentia Renewables is the largest independent rooftop solar power producer in Canada and is 100% owned by Power Energy Corporation, a wholly-owned subsidiary of Power Corporation of Canada. Potentia Renewables’ solar arrays are diversely located on the rooftops of schools and commercial and industrial locations.

Standard Life and Aberdeen Asset Management Merger Details, Cost Savings and Layoffs

The merger of Standard Life and Aberdeen Asset Management will have around £200 million in annual cost savings, according to a recent shareholder prospectus. The merged company plans to get rid of approximately 800 positions.

CalPERS Base External Manager Fees Fell in FY 2015-2016

Base external manager fees for the California Public Employees’ Retirement System (CalPERS) fell to US$ 500 million in fiscal year 2015-2016, compared to US$ 750 million in the previous year, according to board documents. However, total portfolio management expenses and profit sharing was at US$ 1.473 billion for FY 2015-2016, versus US$ 1.484 billion in the previous year.

Hudson’s Bay Taps Evercore to Explore Options on Neiman Marcus

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Mauritius Aims to Sell Citizenship and Passports to Bolster National Wealth Fund

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The island country of Mauritius plans to offer foreigners a chance to obtain country citizenship in exchange for a non-refundable contribution of US$ 1 million to the national sovereign wealth fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CapitaLand Aims to be a Real Estate Funding Machine

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CapitaLand Investment Management, a real estate investment management arm of Singapore-based CapitaLand, hired Caleb Shen as managing director for fund management. CapitaLand is keen on growing its real estate fund management business. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Treasurer Perrottet Reveals the NSW Generations Fund

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New South Wales wants its own Future Fund.

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