Connect with us

SWFI Survey: Large Long-Term Asset Owners Cool on Listed Infrastructure

Published

on

Sovereign wealth funds, public pensions, endowments and other asset owners have steadily increased allocation to infrastructure over the past six years, according to asset allocation data from SWFI. However, hundreds of billions of capital allocated to infrastructure remain idle. According to the third quarter 2017 Global Asset Owner Survey conducted by SWFI, a large number of respondents plan to underweight listed infrastructure in the next 12 months. Just about 92% of the respondents plan to either underweight, strongly underweight or hold their allocation to listed infrastructure, while the survey showed a desire for private infrastructure investing. The debate over public or private access to infrastructure remains a bit intense.

Given the recent quarterly survey demographics, SWFI concludes that more long-term institutional investors with access to talent and sizeable balance sheets prefer private infrastructure investing over listed infrastructure allocations at the moment. A possible concern for listed infrastructure are its correlations to U.S. equity markets, versus the pure play of infrastructure exposure, even when suitable deals are hard to find. Historically, listed infrastructure has exhibited equity-like returns, which can be a pro or con, depending on one’s portfolio preferences.

StepStone Group Quits CalPERS Infrastructure Role

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

White House Nominates Heath Tarbert for CFTC Chairman

Published

on

The White House announced Heath P. Tarbert will be nominated to serve as Commissioner and Chairman of the Commodity Futures Trading Commission (CFTC). Tarbert currently serves as Assistant Secretary for International Markets at the U.S. Treasury Department. Before joining the U.S. Treasury, Tarbert was a Partner at law firm Allen & Overy. Tarbert was confirmed by the U.S. Senate for his current Treasury post at 87 (yes) to 8 (no).

Upon Senate confirmation, Tarbert’s CFTC term would start on April 14, 2019 and last for five years. Tarbert is taking over from J. Christopher Giancarlo whose term ends in April 2019. Tarbert will need a U.S. Senate confirmation to take the head CFTC post.

Continue Reading

KIA Could Sell Stake in North Sea Energy Business

Published

on

The Kuwait Investment Authority (KIA), through its unit Wren House Investment Management, is nearing a deal to sell a 40% stake in its North Sea energy business to JPMorgan Asset Management. In July 2018, KIA closed on a deal to acquire oil and gas pipeline firm North Sea Midstream Partners from ArcLight Capital.

More details to follow –

Continue Reading

Pensioenfonds PGB Hires BMO Global for Equity Protection Strategy

Published

on

Pensioenfonds PGB is a Dutch multi-sector pension fund. PGB awarded a mandate to implement a protection strategy for its €12 billion equity portfolio to BMO Global Asset Management. PGB is a €26.5 billion fund. PGB has been using BMO Global’s responsible engagement overlay since 2017.

The Chief Investment Officer of PGB is Harold Clijsen.

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.