Italy F2i Seeks Investors for Fund III
Milan-based F2i is an Italian infrastructure fund company that is 14% owned by Italian state lender Cassa Depositi e Prestiti (CDP). F2i is in talks to raise a fund to reach at least 3 billion EUR in assets. This fund is called Fund III and is being advised by BNP Paribas and Mediobanca. Other shareholders in F2i include UniCredit and Intesa Sanpaolo.
BNY Mellon Hires Rob Rushe for European ETFs
BNY Mellon hired Rob Rushe as European exchange-traded fund segment executive. He will be based in Dublin and report to Jeff McCarthy, BNY Mellon’s CEO of exchange-traded funds. Previously, Rushe was at State Street, last serving as managing director of Europe, Middle East and Africa head of exchange-traded fund servicing.
SS&C Technologies Holdings Buys Canadaian Fund Administrator
SS&C Technologies Holdings acquired CommonWealth Fund Services, a Canadian fund administrator.
General Electric (GE) used to be a giant, being involved in media and having a massive financial arm called GE Capital. The new GE is small and timid and could possibly use a strategic financial partner to become great again. Can GE find a sovereign wealth fund partner? Will Mubadala Investment Company come back to the table? Gone are the days of Jack Welch. The current GE strategy is to sell, sell, and sell, while doing the tango with US$ 115 billion in debts. In other words, the blind is following the blind, as a possible death spiral could be in GE’s future.
With a quarterly dividend at a paltry one cent, GE, the company that brings good things to life has slipped to its lowest level since 2009. GE indicated that cutting its dividend to US$ 0.01 per share will save the company US$ 3.9 billion per year. Meanwhile, third quarter revenue missed Wall Street’s expectations. Revenue came in at US$ 29.57 million, which was less than the US$ 29.92 million analysts anticipated. Earnings per share also fell US$ 0.06 short of expectations.
[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
McDonnell Investment Management, LLC is being integrated into Loomis Sayles & Company, L.P. by the early part of 2019. Both asset managers are affiliates of Natixis Investment Managers. The cost saving measure will enable McDonnell clients opportunities to Loomis Sayles’ resources and operational capabilities. McDonnell Investment Management manages US$ 11.7 billion in assets at September 30, 2018. The municipal business assets under management is about US$ 6.9 billion.
U.S. Senator Chuck Grassley, age 85, is leaving the Senate Judiciary Committee as chair. He will become Chairman of the Senate Finance Committee next year. The Iowa Republican has served as chairman of the Judiciary Committee since January 2015. Chuck Grassley served as Chair of the Senate Finance Committee in 2001 and from 2003 to 2007.
Grassley is replacing Senator Orrin Hatch (from Utah) who is retiring from the Senate. Replacing Orrin Hatch in Utah as Senator, is former Republican Presidential candidate Mitt Romney, who lost the 2012 election to Barack Obama.
“Looking ahead, at the Finance Committee, I want to continue to work to make sure that as many Americans as possible get to experience this good economy for themselves,” said Senator Grassley in a statement. “That means working to provide Americans with additional tax relief and tax fairness so they can spend more of their hard-earned money on what’s important to them.”
The Committee on Finance is one of the original committees established in the Senate and was first created on December 11, 1815. The committee deals with a whole matter of issues including taxation, revenue, customs, trade agreements, Social Security and more. It is considered to be one of the most powerful committees in Congress. In addition, the Committee on Finance has jurisdiction over both Medicare and Medicaid.
2 weeks ago
Hines and Oaktree Close in on Ygancio Center in Walnut Creek
3 weeks ago
SOVEREIGN FUNDS: Everything You Need to Know About the Recent Davos of the Desert
3 weeks ago
What is Fanniegate?
2 weeks ago
Norway FinMin Warns SWF on Adding New Markets to Benchmark
3 weeks ago
Franklin Templeton Buys Benefit Street Partners
3 weeks ago
Japan Investment Corp Plans Private Equity Funds
Sponsor Content2 weeks ago
How Does Geopolitics Affect Financial Markets?
4 weeks ago
Temasek Invests in Airtel Africa Fund Raise