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SWFI – Movers and Shakers – July 31, 2017

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Allianz Global Investors Hires Jason Green for SE Asia Institutional Side

Allianz Global Investors hired Jason Green as head of institutional business for Southeast Asia. This is a new position and he will be based in Singapore. Green was Executive Director, Client Adviser of Asia Sovereign and Institutional Group at J.P. Morgan Asset Management.

Koh Boon Hwee Appointed to GIC’s Board of Directors

Koh Boon Hwee was appointed, effective August 14, 2017, to GIC’s board of directors. Koh Boon Hwee has been a member of GIC’s investment board since January 2016. Koh Boon Hwee started at Hewlett-Packard in 1977, exiting in 1990 as managing director of Singapore. From 1991 to 2000, he served as Executive Chairman of the Wuthelam Group. He also was chairman of a number of companies including DBS Bank, Singapore Airlines and Singapore Telecom.

Mohamed El-Erian to Advise Investcorp

Mohamed El-Erian has joined the international advisory board of Bahrain-based Investcorp. Investcorp has made an aggressive push in recent years to expand its alternative assets business. El-Erian is also Chief Economic Advisor to Allianz. He is the former CEO of Pacific Investment Management Company (PIMCO) and Harvard Management Company (HMC).

Robeco Japan Names Shiro Tsubota as President

Shiro Tsubota was hired by Robeco to be President of Robeco Japan. He replaces Kikuo Kuroiwa. Shiro Tsubota will report to Graham Elliot, who is managing director and head of Asia-Pacific distribution for Robeco. Previously, Tsubota was CEO of Henderson Global Investors Japan.

Julian Mund Promoted to CEO of Pensions and Lifetime Savings Association

Julian Mund was named Chief Executive of the U.K.-based Pensions and Lifetime Savings Association. Mund was the acting CEO of the organization and has worked as the commercial services director since 2013. Mund is replacing Joanne Segars who resigned in April 2017.

GIC Sells Arizona Biltmore to Blackstone

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Blackstone Real Estate Advisors, part of the Blackstone Group, acquired the 740-room Arizona Biltmore hotel, located in Phoenix, for US$ 403.4 million. The deal closed on April 20, 2018.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mubadala Acquires Stake in Growing Hedge Fund Phoenician Capital

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Mubadala Investment Company, through its unit Mubadala Capital, purchased a minority stake Phoenician Capital, LLC. Although terms and size of the deal were not disclosed, the agreement grants Mubadala Capital rights to invest in a fund managed by the New York-based firm, which generated respective returns of 40.8% and 33.0% in 2016 and 2017, against benchmarks of 12.0% and 21.8% for the S&P 500. The hedge fund runs the Phoenician Offshore Fund Ltd.

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

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Large Asset Managers Continue to Move Operations Out of California

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In the 2010s, Fisher Investments, an investment firm run by Ken Fisher, moved a large number of employees from the Woodside and San Mateo campuses to a town called Camas in Washington, near Portland. Vanguard has a large operational presence in Arizona, while Charles Schwab Corporation has expanded its technology operations and client services in places like Denver, Dallas, Austin and Phoenix. Dimensional Fund Advisors moved its headquarters in 2008 from Santa Monica, California to Austin.

While asset managers reap profits and try to lower employee head count costs, looking to fly-over country seems appealing.

The Pacific Investment Management Company (PIMCO), part of the Allianz family, selected Austin, Texas as its new office to hire more client services and technology talent. The PIMCO Austin office will open later in 2018. PIMCO is headquartered in Newport Beach, California, with an office in New York City.

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