Connect with us

SWFI First Read, October 27, 2017

Published

on

Saudi PIF Updates Include US$ 400 Billion Goal by 2020

It was revealed at the 2017 Future Investment Initiative event in Riyadh that Saudi Arabia’s Public Investment Fund (PIF) is seeking to nearly double its assets under management to US$ 400 billion by 2020. PIF also released plans for its asset allocation, creating six silos. PIF also revealed that they plan to invest up to US$ 1 billion in The Spaceship Co. and Virgin Orbit (under The Virgin Group of Companies). PIF will also hold an option to invest an additional US$ 480 million in space services. Other investors in the company include Virgin Group and Aabar Investments.

The Saudi government showcased an ambitious US$ 500 billion major industrial city and zone project called NEOM. NEOM will be located in northwest Saudi Arabia. PIF plans to help financially back NEOM as part of the kingdom’s Vision 2030 plan.

Principal Financial Group Moves to Buy MetLife Afore in Mexico

In a bid to get more access to Mexican retirement funds, Principal Financial Group Inc. (PFG) agreed to fully purchase MetLife Afore, S.A. de C.V., MetLife, Inc.’s pension fund management business in Mexico, subject to regulatory approval. The transaction is expected to close in the first quarter of 2018. Principal Financial Group has operated in Mexico for roughly 25 years. The company will integrate MetLife Afore into Principal Afore, S.A. de C.V. Post-deal, Principal Afore will be the fifth biggest pension provider in Mexico.

Alaska Permanent Fund Invests in Renewable Energy Company

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

ADIA Seeks to Sell KIC Headquarters

Published

on

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. ]

Continue Reading

BMO and OTPP Test Blockchain Canadian Dollar Debt Deal

Published

on

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. ]

Continue Reading

Just Group Acquires Corinthian Pension Consulting

Published

on

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.

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.