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SWFI – Movers and Shakers – July 7, 2015

John McCarthy Rejoins Starwood from Abu Dhabi Investment Authority

John McCarthy is coming back to Starwood Capital Group as managing director, global capital raising. From 2009 to 2012, he was global head of asset management at Starwood Capital Group. Before rejoining the Greenwich-based company, McCarthy was a Senior Portfolio Manager and Deputy Head of Europe for the Abu Dhabi Investment Authority (ADIA). Before Starwood Capital (the first time around), he was Global Co-Head of Asset Management for Lehman Brothers Real Estate Private Equity, based in London.

LCH.Clearnet Scoops Up Former BNY Mellon Executive

LCH.Clearnet has hired John Vinci a former BNY Mellon executive to lead its U.S. repo clearing business. Vince was BNY Mellon’s former head of global product management and strategy within BNY’s broker-dealer services division. He is joining LCH.Clearnet on July 13, 2015.

BNY Mellon Hires Siegel for U.S. Private Equity and RE Fund Services

BNY Mellon hired Ned Siegel as a senior sales executive for private equity and real estate fund services in the United States. Previously, Siegel was at State Street for 22 years. He will report to Marina Lewin, global head of new business development, BNY Mellon asset servicing and segment head, alternative asset managers.

RBC Selects Guzman to Oversee Asset Management

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Concerns Raised at Potential BlackRock Takeover of CalPERS’ Private Equity

The California Public Employees’ Retirement System (CalPERS) has been analyzing options on what to do with its massive US$ 26 billion private equity program. The pension system has embraced the mantra of reducing cost, reducing complexity and reducing risk, the hallmark of its program called “INVO 2020”. CalPERS also wants less, but more strategic relationships with external money managers. At one point, CalPERS was contemplating increasing its direct investment staff to model Canadian pension funds such as Canada Pension Plan Investment Board (CPPIB), OMERS and the Ontario Teachers’ Pension plan. The pendulum has begun to swing the other way as reported earlier by SWFI research staff.

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CDP Signs €1.7 Billion Infrastructure Loan Agreement with Atlantia Group

Cassa depositi e prestiti S.p.A. (CDP) and Atlantia Group’s Autostrade per l’Italia (ASPI) have signed a €1.7 billion loan contract dedicated to upgrading motorways in Italy under concession to ASPI. €1.1 billion will come in the form of a term loan with a 10-year tenure, with the remaining €600 million wrapped up in a five-year revolving loan.

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Sovereign Funds Commit to Integrating Climate-Related Risks at One Planet Summit

Representatives from a number of sovereign wealth funds who collectively govern over US$ 2 trillion in assets came together at the One Planet Summit at the Élysée Palace in Paris in order to discuss what public asset owners can do to incorporate climate change-related risks and opportunities into investment considerations.

The newly formed committee – called the One Planet Sovereign Wealth Fund Working Group – includes as its founding members the Abu Dhabi Investment Authority (ADIA), Kuwait Investment Authority (KIA), Qatar Investment Authority (QIA), Norges Bank Investment Management (manager of Norway’s Government Pension Fund Global), Saudi Arabia’s Public Investment Fund (PIF), and the New Zealand Superannuation Fund.

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