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SWFI – Movers and Shakers – November 30, 2016

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Trump Intends to Nominate Mnuchin for U.S. Treasury Secretary

U.S. President-Elect Donald J. Trump intends to nominate Steven Mnuchin for the position as U.S. Secretary of the Treasury. Mnuchin held a number of roles including Chief Information Officer at Goldman Sachs, Founder and Co-CEO of Dune Capital Management (a hedge fund) and Founder of OneWest Bank Group LLC (restructured from housing lender IndyMac). In 2015, OneWest was sold to CIT Group. He also founded RatPac-Dune Entertainment which produced movies such as Avatar.

Trump Selects Wilbur L. Ross Jr. for U.S. Commerce Secretary

U.S. President-Elect Donald J. Trump intends to nominate Wilbur Louis Ross Jr. for the position as U.S. Secretary of the Commerce. Ross is the Founder, Chairman and Chief Strategy Officer of WL Ross and Co., a private equity firm. Ross is known as a company turnaround artist. Previously, Ross spent over two decades at Rothschild Inc.

Jerome Naqui Headed Over to Invest AD

In late October, Jerome Naqui was named Senior Vice President, Products and Business Development at Invest AD, which is owned by the Abu Dhabi Investment Council (ADIC). Before that, he was a Managing Partner at Markab Advisory. Naqui had a stint as an Equities Analyst at the Abu Dhabi Investment Authority (ADIA).

T. Rowe Price Hires SSgA’s Head of Global Product and Marketing

T. Rowe Price names Andrew Astley to be global head of product at the company. This is a new position. Previously, Astley was Head of Global Product and Marketing at State Street Global Advisors (SSgA).

RobecoSAM Names New CEO

Zurich-based RobecoSAM named Aris Prepoudis as chief executive officer. He will join effective January 1, 2017. Prepoudis is the former CEO of St. Gallen, Switzerland-based Vescore, a sustainable investment company. Prepoudis replaces Reto Schwager has served as interim CEO since the summer of 2016.

APFC Sells $1.4 Billion Stake in Simpson Housing

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The Alaska Permanent Fund Corporation (APFC) embarked on a major shift in its real estate portfolio by selling a 50% ownership stake in Denver-based Simpson Housing LLLP for US$ 1.4 billion. Simpson Housing had made up roughly 24.7% of APFC’s US$ 5.6 billion real estate portfolio. The other owner of Simpson Housing is that State of Michigan Retirement Systems.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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ISIF Invests in Cybersecurity Firm Vectra

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The Ireland Strategic Investment Fund (ISIF) committed €10 million to Vectra Networks, Inc., a San Jose, U.S.-based cybersecurity company. The investment capital will assist Vectra in creating a research and development center in Dublin.

ISIF is part of a larger funding round of €30 million. These other investors include Khosla Ventures, Accel Partners, DAG Ventures, AI Ventures, AME Cloud Ventures and Wipro Ventures.

Kevin Dillon, who is the former Head of Microsoft Ireland and a Managing Partner at Atlantic Bridge, will join the board of directors at Vectra.

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NZ Super Generates 19.8% Return for 2017 Calendar Year

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The New Zealand Superannuation Fund (NZ Super) generated a 19.8% annual return for the 2017 calendar year. The return was calculated after costs and before New Zealand tax. Catherine Savage, Chair of the Guardians of New Zealand Superannuation, commented in a press release that, “We remain focused on identifying attractive active investments in New Zealand, with recent highlights including a $100m investment in New Zealand insurer Fidelity Life.”

Savage concluded, “Returns are likely to normalise and over the long term we expect the Fund will deliver average returns of approximately 8% a year, based on current portfolio settings.”

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