Public Pension

SWFI First Read, August 22, 2017

Alaska Permanent Fund Corporation Posts 12.57% FY 2017 Return The Alaska Permanent Fund Corporation returned 12.57% in fiscal year 2017. APFC ended June 30, 2017 with a total record value of US$ 59.8 billion. BlackRock Eyes Investment in Hyundai Merchant Marine BlackRock is in talks to possibly commit around 1 trillion KRW into Hyundai Merchant […]


U.S. Pensions Sue Banks Over Alleged Securities Lending Collusion

The Orange Country Employees’ Retirement System (OCERS), Sonoma County Employees’ Retirement System and the Iowa Public Employees’ Retirement System, filed a lawsuit in the U.S. District Court in New York against six investment banks and EquiLend Holdings LLC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Florida SBA Votes to Prohibit Venezuelan Investments

The Florida State Board of Administration (Florida SBA) unanimously approved a resolution to prohibit investments linked to Venezuela. The resolution was signed by the organization’s board members. Essentially, the new resolution modifies the current investment policy of Florida SBA. Here are the changes: 1. Florida SBA is prohibited from investing in any securities issued by […]


Florida SBA Acquires North San Jose Office Complex

Florida State Board of Administration (Florida SBA), through an account managed by MetLife Investments, acquired Orchard Commons office campus located in San Jose, California for US$ 105 million. Orchard Commons is a 22-acre property, consisting of six buildings, that is about 84% leased. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please […]


CalSTRS Buys Phase 3 of Silicon Valley Office Property

CBRE Global Investors, on behalf of California State Teachers’ Retirement System (CalSTRS), is investing US$ 610 million to acquire three office buildings at 3333 Scott Blvd in Santa Clara, California. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Prudential to Merge M&G with Prudential UK & Europe

U.K.-based Prudential, a mega insurance company, revealed plans to merge its units Prudential UK & Europe and M&G into a singular business with £332 billion in assets under management. M&G is Prudential’s wholly-owned asset management arm. The new combined entity will be called M&G Prudential. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers […]


SCALE: National Social Security Fund to Oversee More Provincial Assets

A number of Chinese provincial governments have agreed to transport their basic pension funds to the National Council for Social Security Fund (NCSSF) in a bid to improve returns, enhance diversification and deal with the problems associated with an aging population. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to […]


IMCO Co-Invests in Corsair, Betting on PC Gaming

Fremont, California-based Corsair Components, Inc. (Corsair), a manufacturer of personal computing (PC) components, gaming peripherals and memory, was sold off to an investor group. San Francisco-based Francisco Partners sold a majority ownership interest in Corsair to EagleTree Capital (through EagleTree Partners IV fund), formerly known as Wasserstein Partners. [ Content protected for Sovereign Wealth Fund […]


Will Nuveen Be Successful in APAC Distribution Strategy?

It’s never too late to join the Asian asset management distribution party. A number of large U.S. asset managers are banking heavily in the Asia Pacific region, hoping to catch a growing pool of both retirement and sovereign wealth assets. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view […]


CPPIB Expands IP Investments, Buys Partial Rights in Venetoclax

The Canada Pension Plan Investment Board (CPPIB) is expanding its global intellectual property investment program, eyeing royalty rights. The pension giant is attracted to the long-term cash flows, while growing exposure to uncorrelated assets to that of the broader capital markets. Since 2011, CPPIB invests in rights for royalties, patents, trademarks and copyrights, primarily in […]


IMCO Commences Operations

Six years in the making, the Investment Management Corporation of Ontario (IMCO), the new investment entity, has officially commenced operations. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Kevin SigRist Resigns as CIO, Strategy Change in North Carolina

Kevin SigRist has unexpectedly resigned from his role as Chief Investment Officer of the North Carolina state pension. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Korea’s NPS Surpasses $530 Billion, Now Needs a Permanent CIO

South Korea’s Ministry of Health and Welfare revealed that funds managed by the National Pension Service (NPS) touched 601 trillion KRW (US$ 533 billion) as of July 24, 2017. Part of the growth can be attributed to the recent returns of the fund investor. Despite the good news in growing assets, the system’s chief investment […]


CalPERS Reports Preliminary 11.2% Return For FY 2016-17

The California Public Employees’ Retirement System (CalPERS) reported a preliminary annual return of 11.2% for its latest fiscal year ended June 30, 2017. CalPERS beat last fiscal year’s return of 0.61%. Listed equities for the latest reported fiscal year reported a return of 19.7%, an asset class that benefited from the late 2016 rally. In […]


SWFI – Movers and Shakers – July 14, 2017

Jerry Albright Takes CIO Helm at TRS Jerry Albright, the Deputy CIO of the Teacher’s Retirement System of Texas (TRS), was promoted to CIO following the departure of Britt Harris to UTIMCO. Fidelity Investments to Layoff Hundreds, Rejigs Fidelity Investments boasts more than 44,000 employees. The money manager is laying off hundreds of employees (news […]


Daniel Garant Resigns from PSP Investments

Daniel Garant, the Chief Investment Officer of Canada’s Public Sector Pension Investment Board (PSP Investments), has resigned from his position. Garant was hired by PSP Investments in September 2008. Before PSP Investments, he was with Hydro-Québec. From 1991 to 1997, Garant was a Senior Manager in Private Equity at Caisse de dépôt et placement du […]


Losing Key Clients, Lombardia Capital Partners Shutters

Pasadena-based Lombardia Capital Partners closed its doors as the money manager saw its assets shrink to roughly US$ 1 billion in assets under management, making it hard for the money manager enterprise to be profitable. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Japan’s GPIF Benefited From 2016 Year-End Equity Boost

Japan’s Government Pension Investment Fund (GPIF) generated a 5.86% annual return for its latest fiscal year. With GPIF moving more money into equities over the past few years, the timing appeared to pay off at the end of 2016. Equities Rallied GPIF reached a record 144,903.4 billion JPY (US$ 1.302 trillion) in assets. The pension […]


Korea’s NPS to Acquire Signature Towers through IGIS Asset Management

IGIS Asset Management (IGIS) acquired Signature Towers, a 17-storey office building Seoul, for US$ 635 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Permodalan Nasional Backs Lotte Chemical Titan Holdings

Malaysia-based Lotte Chemical Titan Holdings Sdn Berhad, an integrated petrochemical producer, is having its initial public offering, pricing it at 6.5 MYR per share, raising 3.77 billion MYR (US$ 878 million) in its IPO. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]