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SWFI – Movers and Shakers – October 11, 2017

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UC Berkeley Endowment Names New Chief Investment Officer

The endowment of the University of California Berkeley named David McAuliffe as chief investment officer. He was at the University of Washington Investment Management Company for at least 11 years, last serving as a senior investment officer. McAuliffe is replacing John-Austin Saviano, who helped form the investment office at the endowment back in 2009. The endowment at UC Berkeley has about US$ 1.8 billion in assets.

Ross Piper Named CEO of Christian Super

Ross Piper was appointed as Chief Executive Officer of Sydney-based Christian Super, a 33,000 member superannuation fund. Piper starts next year, replacing Peter Murphy who exited the fund in April 2017. Previously, Piper was Chief Operating Officer of World Vision Australia, a community development organization.

OTPP Appoints New Managing Director for Talent

The Ontario Teacher’s Pension Plan (OTPP) named Matthew Smith to be its new managing director for talent. Smith now reports to Beth Tyndall, OTPP’s chief people officer, and will be responsible for the development and implementation of a enterprise-wide talent strategy. Prior to joining OTPP, Mr. Smith spent nearly 20 years at Fairmont Hotels and Results, where he oversaw their global talent management and development strategies as vice president of talent.

BlackRock Hires Former Obama Climate Advisor to Run Sustainable Investing

BlackRock hired Brian Deese as global head of its sustainable investment unit. Deese was a Senior Advisor for Climate and Energy Policy under former U.S. President Barack Obama’s administration. Deese has worked as a Senior Policy Analyst for the Center for American Progress and worked as Deputy Director for the U.S. National Economic Council.

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GIC Supports CapitaLand Shanghai Investment on Haimen Road

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GIC Private Limited, Singapore’s sovereign wealth fund, has entered into a 50:50 joint venture with Raffles City China Investment Partners III (RCCIP III), a fund controlled by CapitaLand. The joint venture is acquiring Shanghai’s tallest twin towers for an aggregate consideration of RMB 12.8 billion (US$ 1.84 billion). The property is located in Shanghai’s core Central Business District.

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Wells Fargo Could be Slimming Down, Possible Retirement Unit Sale

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Wells Fargo (WFC) is looking to exit the retirement plan servicing market, for a potential sale price of US$ 1 billion. The unit is involved in record-keeping, custody, trust details and various other retirement plan services for corporations. It is housed under the Wealth and Investment Management unit. The retirement plan servicing market is not particularly compelling for the bank, especially in light of the U.S. Department of Labor’s newer regulations to force managers to disclose compensation arrangements and fees to plan fiduciaries. Wells Fargo has been lauded for its loyal consumer base and high revenue, and doesn’t require the business, though recent scandals have been a drag on the company’s profitability and public image. This news has pre-empted some advisors to jump ship. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mubadala Petroleum Signs Deal to Buy Interest in Nour North Sinai Offshore Area Concession

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Mubadala Petroleum, a division of Mubadala Investment Company, signed a deal to acquire a 20% percent participating interest in Egypt’s Nour North Sinai Offshore Area concession. The seller of the interest is a subsidiary of the Italian energy giant Eni. Eni holds an 85% stake in the partnership with Tharwa Petroleum Company, which holds a 15 percent interest. Formed in 2004, Tharwa Petroleum Company is 100% owned by the Egyptian government through a variety of state-owned entities such as the Egyptian General Petroleum Corporation (EGPC) at 20% and Egyptian National Gas Holding Company (EGAS) at 20%.

The sales transaction is subject to conditions, such as approval from government authorities in Egypt.

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