SWIB Co-Investment Heads Reveal Strategies Behind Manager Selections
Private equity leaders at SWIB reveal their focus on lower middle and middle markets for their co-investment deals.
Private equity leaders at SWIB reveal their focus on lower middle and middle markets for their co-investment deals.
The $4 billion Seattle City Employees Retirement System has shortlisted finalists for their investment consultant search for a final decision in May.
CIO Andrew Ward and Exelon's next CIO, Jessica Hart, discuss the traits that make him the rock in the storm.
Los Angeles Water and Power Employees' Retirement Plan’s chief investment officer to discuss his strategy at conference in Los Angeles.
"It turns out for health systems, one of the biggest environmental impacts is what we call Scope 2, which means it's mostly purchased electricity... we've had the privilege to learn a lot and put in place two big power purchase agreements, which are going to bring AdventHealth to 100% renewable electricity by 2026."
Missouri Local Government Employees Retirement System (LAGERS) is excited to announce the appointment of Scott Day as its new chief investment officer, effective May 1, 2024.
The Pensions Regulator (TPR) has made several interim appointments, with Neil Bull becoming Interim Director of Market Oversight, Nina Blackett taking on the role of Interim Director of Strategy, Policy, and Analysis, and Mel Charles assuming the position of Interim Director of Regulatory Compliance.
Qatar's ruler has appointed Sheikh Bandar bin Mohammed bin Saud Al-Thani as the chairman of the country's $450 billion sovereign wealth fund, the Qatar Investment Authority (QIA).
"The world is not changing its behavior enough. I think that's going to be a risk, but then also an enormous investment opportunity because shifting away from hydrocarbon as a power source, as an energy source, is going to require a lot of capital, but it has to happen."
Jo Townsend has assumed the role of Chief Executive at the Guardians of New Zealand Superannuation, overseeing the management of the NZ$70 billion NZ Super Fund.
IFM Investors, a global fund manager owned by pension funds, has appointed Claudia Marciano as its new Head of Global Consultant Relations. Effective from March 19, 2024, Marciano will be based in London and will report to John Gee-Grant, IFM's Head of Global Client Solutions.
Could he be the answer the largest pension fund in the U.S. has been seeking for 5 years?
A discussion of the effective practices behind sustained, organic growth in the financial advisory industry with Victoria Trumbower, Managing Member of Trumbower Financial Advisors.
Van Lanschot Kempen Investment Management UK Ltd has been appointed as the fiduciary manager by the Trustee of the AA Pension Scheme, following a thorough evaluation process across the fiduciary management market.
Bahrain's sovereign wealth fund, Mumtalakat, has acquired complete ownership of the McLaren Group, renowned for producing high-performance sports cars and holding a significant share in the McLaren Formula 1 team.
Saudi Arabia’s sovereign wealth fund, known as the Public Investment Fund (PIF), is reportedly engaged in discussions to purchase Saudia, the kingdom’s national airline.
Two distinguished individuals are set to join the Australian Retirement Trust (ART) board, enhancing the fund's governance and succession planning.
Japan’s Government Pension Investment Fund (GPIF), the world’s largest pension fund by assets under management, announced that it is seeking information on "illiquidity assets," including bitcoin, as part of its exploration into potential new investments.
Ontario Teachers’ Pension Plan Board (Ontario Teachers’) has named new leaders to head its Capital Markets, Total Fund Management, and Global Investment Strategy departments, effective immediately.
South Korea's national pension fund is endorsing the government's corporate reform initiative, aimed at addressing the "Korea discount" issue in the stock market, according to the fund's investment strategy director.
Redwood Trust, Inc., a key player in broadening housing accessibility for both homebuyers and renters, has entered into a significant capital partnership with Canada Pension Plan Investment Board (CPP Investments) through CPPIB Credit Investments Inc., amounting to US$750 million.
Cartwright, a company specializing in pensions for defined benefit and hybrid schemes, has appointed Ian McKnight as Senior Adviser, with an initial emphasis on business development.
Clara-Pensions, a consolidator for defined benefit pension schemes, and the Trustees of the Debenhams Retirement Scheme have finalized an agreement, marking the UK's second-ever superfund transaction.
Sophie Jelleff has been named as the new Head of Investment Execution at HESTA, starting from April 8, 2024.
COIMA SGR, a prominent player in real estate investment, development, and management for institutional investors, has secured €50m from CDP Real Asset to repurpose the 2026 Olympic Village into Italy’s largest dedicated student accommodation complex with Italy's sovereign wealth fund.
George Boubouras has recently been appointed to the board of ESSSuper, the fund catering to emergency services and Victorian government employees, effective February 6, 2024.
The Board of Guardians of the Sarawak Sovereign Wealth Future Fund has officially named Abang Rahmat Yusuf as its new chief executive officer, effective January 29 of this year.
The U.S. Department of Labor has named five members and leaders for the 2024 ERISA Advisory Council, which advises on employee welfare and pension benefit plans. Among the appointees is Regina Jefferson, a professor at Catholic Law, selected to represent the broader public.
Earlier this week, we convened our 11th Annual Tri-State Institutional Forum in New York City, welcoming esteemed executives from various sectors including pension funds, insurance companies, foundations & endowments, hospital plans, sovereign wealth funds, and consultants from across the region. Our Co-Head of Institutional Production, Morgan Lomas, spoke to some of our guests on a wide array of topics, covering everything from allocation strategies to climate risk impact on investments, fixed income discussions, portfolio construction insights, and the imperative for equitable savings initiatives.
The Oregon Retirement Savings Board, in collaboration with State Treasurer Tobias Read, has announced the allocation of $5 million from the American Rescue Plan Act (ARPA) to support Oregon's Department of Early Learning and Care (DELC) in funding retirement accounts for over 900 childcare service providers in the state.
Institutional Allocators in the US Mountain region faced
unprecedented market volatility in 2023, requiring investment staff to adapt
and innovate. This whitepaper synthesizes insights from successful investors,
highlighting their strategies and market conditions that proved instrumental in
navigating the tumultuous environment over the past year.
PIF and Mumtalakat Holding Company, Bahrain's sovereign wealth fund, have officially inked a memorandum of understanding (MoU) to strengthen collaboration.
Scott Tully has been named the new General Manager, Product at Rest, one of Australia's largest profit-to-member superannuation funds.
Malaysia's Employees Provident Fund (EPF) has declared its highest-ever dividend payout of RM57.8 billion for the year 2023. The payout consists of a 5.5 per cent dividend for members under the conventional savings account and 5.4 per cent for members under the syariah savings account.
Market’s
Group has conducted an exclusive survey in the New Jersey, Connecticut, and New York region, to provide valuable insights for the peer asset allocator community. Focused
on understanding prevailing market conditions and successful investment
strategies, our survey aims to provide a comprehensive snapshot of allocator
sentiments in the region for Q1, 2024.
Bruebaker shares his wisdom on challenges overcome and pivotal moments in his career. He will receive a Lifetime Achievement award on May 7 in Seattle.
On investing in the new economy, building an effective, unlevered, co-investment platform, tracking its success, and becoming competitively nimble at one of the largest funds in the United States.
On strategies for being 100% funded, returning 8.5% for 40 years, and where he's seeking to allocate.
Alecta finds itself in turmoil once again as its newly appointed chairman, Carina Akerstrom, steps down from her position after just one week.
Fiona Wynn has been named head of protection proposition, while Mark Preston joins as service delivery manager overseeing large cases. These appointments align with the company's expansion plans, particularly in the segments of high net worth and business protection.
Sweden’s largest pension fund, Alecta, is on the path to recovery from what its new chair describes as a significant loss of trust.
The Lucerne Pension Fund (LUPK) is set to undergo a change in leadership, as Reto Tarreghetta, the acting managing director, tendered his resignation at the close of May, concluding a tenure of approximately six years.
North Dakota's Public Employees Retirement System board chair, Michelle Kommer, has stepped down from her position, resigning less than half a year after her appointment by Governor Doug Burgum.
Jessica Hart to become his successor July 1.
AXA Investment Managers (AXA IM) has named Jérôme Broustra as the new Head of Global Rates, effective immediately.
The sovereign wealth fund, managing assets exceeding $700 billion, has enlisted Goldman Sachs, HSBC, and Standard Chartered to arrange meetings with potential investors, according to the document.
CIC has appointed Liu Haoling as its new chief investment officer, taking over from Ju Weimin.
LGPS Central Limited, the asset manager overseeing £30 billion for eight local authority pension funds across the Midlands, has announced the appointment of Richard Law-Deeks as its new CEO.
The Pensions Regulator (TPR) has unveiled organizational adjustments to bolster its strategic transition in supervising the workplace pensions sector. As the pensions landscape undergoes rapid transformation toward a more competitive environment characterized by fewer, larger schemes, both risks and opportunities for savers and the broader economy are evolving.
CAAT Pension Plan (‘CAAT’) has announced the elevation of two senior executives to address the growing demand for its contemporary defined benefit (DB) plan, DBplus. Effective immediately, Sabeen Purewall has been promoted to the role of Vice President, Solutions & Partnerships, while Graham Stone assumes the position of Acting Vice President, Pension Solutions.
Carnegie promotes Jon-Michael Consalvo from within.
Copenhagen Infrastructure Partners has introduced Copenhagen Energy Islands, a fresh endeavor leveraging CIP's extensive proficiency in offshore wind to advance energy island initiatives worldwide.
Macquarie Asset Management has appointed Elise Vaudour to bolster its green investments division for wealth management clients. Returning to Macquarie Group, Elise assumes the role of Senior Managing Director and Head of Wealth for MAM Green Investments, operating from Paris.
Power Corporation of Canada has announced the appointment of Mr. Jake Lawrence as its Executive Vice-President and Chief Financial Officer, effective March 18, 2024
The New York State Common Retirement Fund (Fund) will enact investment restrictions on eight integrated oil and gas companies, including Exxon Mobil Corp., following a review of their readiness to transition to a low-carbon economy, announced State Comptroller Thomas P. DiNapoli, who serves as trustee of the Fund.
TPT Retirement Solutions, a prominent provider of workplace pensions in the UK, has announced the appointment of Michael Callari as its newest Business Development Manager.
A new program helped to create a banner year and historic moment for investors at Delaware County.
Susan Oh leaves after 28 years for firm that specializes in artificial intelligence.
The Texas Permanent School Fund Corporation (Texas PSF) has appointed Stu Bohart as its new Deputy Chief Investment Officer (CIO), signaling a strategic shift in its $52 billion endowment fund.
GIC Singapore has announced forthcoming changes to its senior management team, set to take effect on 1 April 2024. The organization is appointing six new seniors to various teams within its structure.
Drawing from the feedback of prominent institutional
investors in Ohio, Markets Group has analyzed the diverse approaches that
contributed to their success in navigating the turbulent financial landscape of
2023.
The Ontario Municipal Employees’ Retirement System is appointing Celine Chiovitti as chief pension officer, effective Feb. 6, 2024.
McClearn previously served as the Interim Director of the Program starting in February 2023.
Cbus Super is pleased to announce the appointment of Stephen Monnier as the new Head of Stewardship within its Responsible Investment Team.
The National Reconstruction Fund Corporation (NRFC) Board has appointed Mr. Ivan Power as its first Chief Executive Officer (CEO).
The Alberta Investment Management Corporation (AIMCo) unveiled its strategy for climate investing and introduced the Energy Transition Opportunities Pool (ETOP), a $1 billion fund focused on investing in global energy transition and decarbonization sectors.
Sweden's financial regulator has requested that the police investigate potential corruption related to pension fund Alecta's investment in the property group Heimstaden Bostad, as disclosed by Alecta.
Norway's sovereign wealth fund, the Government Pension Fund Global (GPFG), celebrated a significant financial milestone as it reported a record-breaking profit of 2.22 trillion Norwegian crowns (approximately $213 billion) for the year 2023.
A discussion with “bond guy” Chief Investment Officer Michael Shackelford of New Mexico PERA
UniSuper, the renowned fund accessible to all Australians, is delighted to announce the appointment of Wade Martin as its new Chief Risk Officer, effective from February 21, 2024.
Six major Canadian pension funds, collectively managing C$1.3 trillion in assets, are embarking on a substantial expansion into private credit, a domain historically dominated by traditional banks.
GPS Central has recently announced key additions to its investment management team through internal appointments, reinforcing its commitment to strategic growth.
IFM Investors, a global investment manager owned by pension funds, has announced the appointment of John Gee-Grant as its Head of Global Client Solutions, effective from May 3, 2023.
The Korea Investment Corporation (KIC) has announced the establishment of its fifth overseas hub in Mumbai, India, marking its first presence in an emerging market.
Malaysia is poised to appoint Ahmad Zulqarnain Onn, CEO of Permodalan Nasional Berhad, as the new head of its largest state pension fund, the Employees Provident Fund (EPF), as the country aims to rebuild reserves depleted during the pandemic and scale up domestic investments.
The Albanese Government has appointed the Hon Greg Combet AM as the new Chair of the Future Fund Board of Guardians for a five-year term.
The re-election of Theresa Taylor as president and David Miller as vice president underscores the continued trust and confidence the CalPERS Board places in their leadership and experience.
The Pennsylvania Municipal Retirement System (PMRS) Board of Trustees has announced the appointment of Timothy Reese as Secretary.
ohn Chilman has declared his plan to retire from his position as Railpen's Chief Executive in 2025, concluding a six-year tenure in this role.
NOW: Pensions, a prominent workplace pensions provider catering to over two million pension savers, has welcomed Fiona Matthews to its Board of Trustee Directors, effective January 1st.
Ontario Teachers’ Pension Plan Board (Ontario Teachers’) has made significant executive appointments, designating two seasoned leaders in its Investments division as Chief Investment Officers (CIOs) with immediate effect.
Michelle Ostermann has been named the new Chief Executive Officer of the Pension Protection Fund (PPF) and is set to assume her role on April 1.
Aon plc, a prominent global professional services firm, has welcomed Jit Parekh as a partner in its UK Defined Contribution (DC) team.
PGIM, the global investment management arm of Prudential Financial, has appointed Hirotaka Kato as the Head of Portfolio Solutions for Japan.
GoldenTree Asset Management, a leading global asset management firm overseeing assets exceeding $53 billion, has appointed Markus Taubert as Principal, marking the establishment of GoldenTree's physical presence in Germany with a base in Munich.
Arc Pensions Law is excited to welcome pension lawyers Clare Pollard and Tom Cosgrove to its team, with Clare joining the Leeds office and Tom based in London.
Railpen, the fiduciary and investment manager overseeing the £34 billion railway pension schemes, has revealed the retirement of Stu Blackett and the appointment of Maura Sullivan as the new Chief Financial Officer.
NIIF India has revealed the appointment of Mr. Sanjiv Aggarwal as the Chief Executive Officer & Managing Director of NIIFL, according to an announcement by its Board of Directors.
OPB has disclosed the selection of Darwin Bozek for the interim role of President & Chief Pension Officer. Darwin is set to assume the position at OPB on February 1, 2024.
London CIV has appointed Aoifinn Devitt as its Chief Investment Officer (CIO).
The longtime advocate for diversity, and peer-recognized leader among CIOs will leave the second largest pension fund in the U.S. before July.
The Board of Platinum Asset Management Limited is delighted to appoint Mr. Jeff Peters as the Chief Executive Officer and Managing Director of the Platinum Group.
Arun Muralidhar challenges the status quo and methodically kicks the tires on investment theory.
Barclays has appointed Ryan Voegeli as the Head of Investment Banking for Canada, and he will be stationed in Toronto.
Stone Bank announced the appointment of Nick Roach as its Chief Executive Officer.
John Beckham has commenced his four-year tenure as the Managing Director of the North American Development Bank (NADBank).
Nigerian Exchange Group Plc (NGX Group) is delighted to declare the selection of Mr. Temi Popoola as GMD/CEO designate, with the effective date set for January 1, 2024.
Robert Young III has taken on the position of President at Brown Capital Management starting on January 1, 2023.
Eldorado Gold Corporation has appointed Paul Ferneyhough as Executive Vice President and Chief Financial Officer, effective January 2, 2024. He will succeed Philip Yee, who is retiring on the same date.
T. Rowe Price Group, Inc. has announced that Eric Veiel, the Chief Investment Officer and Head of Global Equity, will assume the position of Head of Global Investments, effective from January 1, 2024.
Mr. Adebowale Oyedeji has been appointed as the new Managing Director and Chief Executive Officer, officially assuming his role on January 2, 2024.
OCBC has appointed Wang Ke as the CEO of OCBC Hong Kong, effective from December 15, 2023.
Acadian Asset Management has appointed Kelly Young as its Chief Executive Officer, effective immediately.
The Missouri Local Government Employees Retirement System (LAGERS) has announced the retirement of Brian Collett, Chief Investment Officer (CIO), effective January 31, 2024.
Mirabaud Wealth Management has named Jonathan Unwin as Head of Portfolio Management for the UK, a move aligned with the company's efforts to enhance its presence in the UK wealth management sector.
Standard Chartered has named Daniel Furer as the Head of Discretionary Portfolio Management & Asset Allocation. Furer will report to Steve Brice, the Global Chief Investment Officer.
Elo Mutual Pension Insurance Company has named Jonna Ryhänen, M.Soc.Sc., as Chief Investment Officer and Deputy CEO.
American International Group (AIG) has announced that James (Jimmy) Dunne III will be joining its Board of Directors as an independent Director, commencing his role on December 1, 2023.
Colin Purdie, CFA, has been appointed as the new Chief Investment Officer for Public Markets at Manulife Investment Management.
GoldenTree Asset Management, a global asset management firm overseeing around $53 billion in assets, has appointed Charlie Fuller as Partner and Head of North American Insurance coverage.
MFS Investment Management has disclosed the retirement of Michael Roberge from the position of CEO. The role will be succeeded by Ted Maloney, the current Chief Investment Officer at MFS.
ANZ Bank New Zealand (ANZ NZ) has announced the appointment of George Crosby as the new Chief Investment Officer for ANZ Investments, effective early 2024.
John Graham, President & CEO of Canada Pension Plan Investment Board (CPP Investments), has announced the immediate appointment of Manroop Jhooty as Senior Managing Director & Head of Total Fund Management.
JP Morgan Asset Management has named Ayaz Ebrahim as the CEO for Singapore and South East Asia (SEA). Ebrahim will succeed Sherene Ban, who is relocating to Europe to assume the role of head of Continental Europe institutional.
Seen as a rising star for years, Kim leaves CalPERS private equity post.
Shenkman Capital Management has welcomed former professional basketball player and entrepreneur Jay Williams to its board of directors as part of the firm's expansion efforts in managing the wealth of high-net-worth individuals.
Australian Retirement Trust (ART) has announced the selection of David Anderson as its next Chief Executive Officer (CEO) following an extensive global search.
Where he's allocating, what’s impacting his investment strategy, and what’s keeping him up at night when the economy gives mixed signals.
Asset manager Fidelity International has confirmed that Anne Richards, with over 30 years of experience in asset management, has stepped down as CEO after five years.
Sarah Hunter has been named the Chief Economist and Assistant Governor (Economic) at the Reserve Bank of Australia. In her new role, Sarah will head the Bank's Economic Group, which includes Economic Analysis and Economic Research.
Advice from Hall of Famer Bob Maynard, on what was important to get right when transforming PERSI as a CIO, and establishing Alaska's Sovereign Wealth Fund. To Maynard, things within the current economy are repeating from years ago.
Mercer, a prominent player in transforming retirement and investment results and a subsidiary of Marsh McLennan (NYSE: MMC), revealed that it has finalized a deal to purchase Vanguard's outsourced chief investment officer (OCIO) business.
Suresh Balaji has assumed the role of Chief Marketing Officer at Lloyds Banking Group.
Jennifer Westacott AO will join the Board of Directors of Future Generation Global (ASX: FGG) as an independent director and assume the position of Chair on November 27, 2023.
J.P. Morgan has announced that Chad Tredway has rejoined the firm as the incoming Head of Real Estate Americas, J.P. Morgan Asset Management.
Marsh McLennan has announced the appointment of Pat Tomlinson as President of Mercer, the global business under Marsh McLennan focused on transforming the landscape of work, shaping retirement and investment results, and fostering genuine health and well-being.
Rest, one of Australia's leading Superannuation Fund, Appoints John O’Sullivan as Chief Financial Officer.
Australian Philanthropic Services (APS) has announced the addition of John McMurdo to its Board of Directors, effective from November 2023.
After a Fifteen-Year Tenure, CEO Matt Whineray Announces Resignation from Guardians of NZ Superannuation.
DWS Group will have a management team adjustment, with the introduction of Rafael Otero as the new COO, commencing from January 1, 2024. Reporting directly to Chief Financial Officer Markus Kobler, Otero's appointment prompts Kobler to temporarily shoulder board responsibility for the Chief Operating Office.
Morgan Stanley has appointed Jed Finn as the head of the company's $4.8 trillion wealth-management business, granting him oversight of the firm's most significant revenue generator.
Texas Land Commissioner and Texas Permanent School Fund (PSF) Corporation Board Member Dawn Buckingham, M.D. has announced that Bob Borden will become the Chief Executive Officer of the Texas Permanent School Fund Corporation.
Amundi US has announced that Marco Pirondini will assume the role of Executive Vice President and Chief Investment Officer for the US division, starting from January 1, 2024.
Upon achieving some of the highest returns in the industry at NYU, Jacobs quit and is now resurfacing.
Veteran emerging markets investor Mark Mobius is set to step back from his position at Mobius Capital Partners LLP in the coming months, as announced by the asset manager.
Pernille Jessen will join AP Pension as their new investment director starting on January 1, 2024. Jessen comes from a position as co-investment director at AkademikerPension and has previously worked at Danmarks Nationalbank.
City National has named Howard Hammond as the new CEO. The appointment is effective on November 27th.
Amundi appoints Eddy Wong as CEO Asia, starting from November 6th. Eddy will oversee Amundi's activities in North & South Asia, along with the joint ventures in mainland China. He also joins Amundi's Executive Committee.
Vincent Tuohey, an investment director with the Global Investment team at the Massachusetts Institute of Technology's Investment Management Company (MITIMCo) and a highly accomplished former U.S. Army captain, has been appointed as the incoming president of the Princeton University Investment Company (PRINCO). Tuohey is set to take over from the longstanding PRINCO President, Andrew Golden, who is scheduled to retire at the conclusion of this academic year.
The San Joaquin County Employees’ Retirement Association (SJCERA) has announced that Chief Executive Officer Johanna Shick intends to retire in March 2024. This decision comes after Johanna Shick's remarkable seven-year tenure at SJCERA, during which she provided dedicated service and exceptional leadership, and after more than 33 years of serving in the public sector.
The story of an investor who turned his airline fund toward success during the pandemic, when planes weren't even flying.
Oliver Morley will leave Pension Protection Fund (PPF) on December 2023 to become the Chief Executive at The Money and Pensions Service (MaPS).
The Board of Directors of Morgan Stanley has announced that Co-President Edward (Ted) Pick will assume the role of the company's Chief Executive Officer, starting from January 1, 2024.
The Teachers' Retirement System of Illinois (TRS) has appointed Ghiané Jones as the new deputy chief investment officer, starting from October 10.
Star investor Anthony Rodriguez leaves NYC BERS for a role custom-created for him.
At Austin Institutional Forum hosted by Markets Group, Veal discussed what he’s focusing on as the new CIO in the post pandemic environment.
After leading a 68.6% increase in 8 years, Kathleen Jacobs’ last day was Sept. 30
She will be the 7th Chief Investment Officer in two decades to leave the largest pension fund in the United States.
In taking on the role, Donegan became the first woman real estate director.
Some might call him an outlier, but Bob Jacksha's less conventional strategies paid off when he needed them most in 2022.
Chief Investment Officer Don Pierce and Dr. Arun Muralidhar have found a way to rebalance that has given California's San Bernardino County Employees Retirement Association at least 100 bps per year since 2005.
Caption: Doug Brown, CIO of Exelon, has a secret sauce in mentoring future CIOs, and this series explores it. In Part 3, Bob Watson, who took over the CIO role at Chrysler when Brown left for Exelon, discusses what best prepared him to become the next chief investment officer.
One co-CIO takes over entire CIO role, one strategic thinker gets poached.
Mercer's global head of ESG and Sustainability discusses how different regions of the world are applying ESG themes to their investment processes.
A simple method to manage unmanaged risks in portfolios (that were exposed in 2008)
The chief investment officer hired for Texas ERS during the pandemic led the team to achieve what few can.
Using RTX Corporation’s (formally known as Raytheon Technologies Corporation) data, she found disparities in minority populations. Now the chief investment officer is asking plan sponsors for data to help improve plans in the United States.
Greater dispersions ahead, warns Mercer columnist David Scopelliti
Cbus, Ontario Municipal and TTC all appoint new CIOs
Brian O’Neil of the Robert Wood Johnson Foundation talks with Ratna Kota of the Maryland State Retirement and Pension System on preparing a portfolio to hedge inflation, evaluating investments within an entire fund, and giving responsibility to your investment teams while remaining accountable, among other subjects.
This exclusive interview with the chief investment officer of the Van Andel Institute includes her boots-on-the-ground observations in Asia and Europe.
ILPA's new board was unanimously elected
In a series about how Doug Brown mentored future CIOs, we follow a woman who became a CIO at two public companies.
Starting her new chief investment officer role during a wild time in economic history, her knack of finding diverse managers is reducing risk and paying off.
CIO Neil Roache of J&J discusses the “Doug Model” in a series about 5 mentees (and counting) who rose to CIO seats.
Fernando has a goal to increase the fund's exposure to private markets.
The fund has set a priority to enhance its strategy during proxy voting season, and vote for disclosures on greenhouse gas emissions and diverse board members.
Does this new economy require staying the course or a new approach: What the Chief Investment Officer of the IMF is asking of his managers.
Upgrading tech systems gave this New York fund a competitive, digital edge.
Dubai-based Standard Chartered bank recently developed a new investment model whereby it promotes diversity of thought, takes on opposing views and encourages debate at the investment committee level. In this interview, EMEA CIO Manpreet Gill details the effect that investment diversity has on performance and return.
As he leaves his role at International Paper, the vice president of investments talks candidly about plan improvements, surviving a lawsuit, threats to pensioners, and succession planning.
Harris will depart from his role at the $66 billion investment organization June 30.
Many investors naively assume that if an infrastructure asset’s cash flow is in some way inflation-linked, that is enough.
Denver Foundation's president and CEO is incorporating diversity, equity and inclusion to policy, investments and grantmaking while creating individualized ESG metrics for the foundation.
A quick discussion on female representation within the finance industry by Legalsuper's head of strategy.
In a multimedia interview, the favored consultant and executive vice president of Callan gives philosophy on investment due diligence, onboarding board members, and other topics on chief investment officers' minds.
On the heels of a fusion breakthrough, Coaker speaks to his peers about what’s ahead and what investors should know about fusion as a potential energy source.
Minnesota’s CIO resurfaces after retiring in October.
The CIO was poached from NYU.
Bob Hunkeler will retire at the end of the quarter.
Ben Cotton will take over for Bob Devine and Jim Grossman, all PSERS staff cleared of wrongdoing.
Investors give standing ovation and enumerate his many contributions to the industry.
New Mexico's interim rising star beats pool of 200 applicants.
Regarding board politics, “If you can't really explain what you were trying to do, you've got problems,” said Maynard.
Shannon O'Leary: I have seen a number of firms significantly damage their investors via rampant group-think.
Director of marketable investments, Jackie O. Gifford,
joins OCIO.
Trevin Erichsen will serve as interim CEO while a
full-time replacement is found.
A merger between CareSuper and Spirit Super would create
a fund with 500,000 members and US$29 billion under management.
Drop in alternative holdings allows SBA to back five
funds, including one focused on digital assets.
Because Taiwan Semiconductor Manufacturing Co. is
comfortably the world's largest contract manufacturer of semiconductors, a
takeover could have far-reaching impacts.
HESTA will be provided a first right of refusal to
invest in existing and new projects by Countrywide Hydrogen.
The Oman Investment Authority will consider owning up
to 10% of the project, which is valued at $1.5 billion in total.
This means it will adjust for changes in asset
enterprise values so that its carbon intensity reductions are more accurate.
It will license component technology from BMW for use
in the vehicle development process.
System will look to launch co-investment program and
do more internationally.
Meta Platforms, Samsung Electronics and Nvidia have
all fallen out over the course of 2022.
Program’s private equity program reports a loss, leads to restatement of year-end numbers .
MSquared Affordable NYC Fund marks a first for
Trinity.
The investors, from 33 countries, urged governments to
put in place climate strategies, to transition away from fossil fuels, end
deforestation, bolster climate finance, and strengthen disclosures.
Washington State pension system will commit up to $250
million.
Effort to do more such deals is driven by a desire to
reduce costs by $300 million annually.
Secretary General Dr. Srikanya Yathip details how the fund executes on its ESG mission.
Expected shortfall in distributions and tough
secondary market may lead to reduced commitments.
The government will form a national ‘housing accord’
with local governments, investors, and the construction sector.
The fund will set up investment companies in Bahrain,
Iraq, Jordan, Oman, the Republic of Sudan, and Egypt.
Among other changes, Tan Chong Lee, currently the
group’s president, will be transferred to 65 Equity Partners as CEO.
The MPF system is on track for its worst annual
performance since 2008.
Karen Frank’s plans after
two years in the role are not known.
Third
school in Research Triangle, Duke University, posts a 1.5% loss.
Ivan Manolov spent nearly 11 years at YMCA Fund.
Because no withdrawals from the fund are expected
until 2035, it invests mostly in risk assets.
The under-representation of women in leadership
positions has been identified as a major contributor to the pay gap.
System reducing pacing plans for two sectors – despite
strong gains from both.
Princeton said its endowment was down 1.5%.
Greg Ruiz joins Jasper Ridge Partners after helping ‘turn
around’ CalPERS’ PE program.
Retirement system raises cash holdings 6
percentage points above policy target
The A$193 billion fund’s portfolio sank 0.6% during
the quarter as equity and bond markets retreated.
Bradley Dyslin to replace retiring Eric Kirsch.
Sovereign
wealth fund backs three sector funds and also commits to infrastructure and
distressed lending funds.
Board approves commitment to Angelo Gordon Realty.
As stewardship investment officer, Philip Larrieu will
focus on maximizing Oregon’s public equity holdings through corporate
engagement.
New Mexico State Investment Council CIO reflects on
career, investment changes and millennials.
The funds are asking the courts whether the auto maker
had the right to refuse a climate lobbying disclosure resolution put forward at
its AGM.
Currently comprising 5.4% of the portfolio, it can be
expanded to 10% over the next 10 years.
Martin Longchamps is hired from PSP Investments,
replaces Martin Laguerre.
Abu Dhabi sovereign wealth fund commits half the
amount that Aliph Capital is seeking to raise.
System is looking to ramp up its activity in
infrastructure.
U-M reports a gain of 2.2%, making it the third Big 10
school to post a positive number for fiscal year.
Retiring Ian Martin has served as chair since 2017.
Head of risk asset and risk allocation role has been
vacant since Edwin Denson became CIO in April 2021.
The plan has a 2035 net zero target.
The
prime minister resigned on October 20 after less than two months in office.
The
country’s large energy and materials industries will likely shield the local
economy.
SFERS is enduring a tough 2022, thanks to steep
declines in public markets and fixed income portfolios.
North Dakota State Department
of Trust Lands and Employees’ Retirement System of the State of Hawaii hope to
have new CIOs hired before year-end.
Former Employees Retirement System of Texas chief investment officer invokes his experience to
determine the mindset of investing in a high-inflation and rising-rates environment.
CIO Ronald Schmitz also expects private equity returns
to be a bit stronger than hoped.
Neil Shah helped oversee private equity and real
assets at NU.
Lauren Jacobson is tapped to fill role that has been
vacant since Anne Dinneen’s departure in April.
Labat Africa exports medical-grade cannabis to
Australian pharmaceutical drug company PharmaCann.
Gemini is a 690MW solar plus 1,416MWh battery energy
storage facility that is expected to be operational in 2023.
Canadian pension manager commits to $125M round of
financing for Soli Organic.
$17.8 billion system is building up its risk
diversifiers portfolio.
WSIB’s returns are currently second only to Oregon
Public Employees Retirement Fund.
The $75.9B system joins the small group of public
pension funds that generated a gain for the 2021-22 fiscal year.
Yale University is still the
only Ivy League school to generate a positive return.
Lightrock exceeds
target thanks to bringing in a global mix of institutional investors.
Sinni has been with $8.7B fund since 2013, crafting
strategic asset allocation and overseeing parts of the portfolio.
Poised to step down as CIO at the end of 2023 after 12
years, Hewsenian discusses career, including serving as a consultant to CalPERS
and being a special ed teacher.
CIO
Farouki Majeed sees benefits in switching away from hedge funds to private credit
and infrastructure.
John Coombe joins from the RockCreek Group.
David Holmgren and his investment team
finish the year as high achievers as they exit Hartford HealthCare.
U.K. investment firm launches index to model mental
health engagement at top 100 largest companies.
Neumora Therapeutics is developing medicines to treat
brain diseases.
The Bank of England has already expanded the program
due to the risk of ‘self-reinforcing fire sale dynamics.’
The world’s largest sovereign wealth fund has bulked
up its teams focused on climate issues.
Hy24, a joint venture between FiveT Hydrogen and
Ardian, has raised $2B for its first fund.
Hyde Hsu joins from the New York City Retirement
System.
System commits to three credit funds, a real estate
fund and a private equity fund.
Bruce Fink is named to replace Elizabeth B.A. Miller,
who retired in July.
Lauren
Gellhaus will focus on pension plans for the institutional advisor.
Allen Waldrop fills a role that has been open since
Steve Moseley’s departure.
Bulk of capital deployed into two private equity funds
and a real estate fund.
Energy
storage startup raises $450M in Series E Financing
Andrew Fraser will replace Don Luke, who was
previously chair of QSuper and served as CEO of Sunsuper for more than a
decade.
The world’s largest reinsurer will also no longer
insure new oil and gas projects starting in April 2023.
Neil Cochrane is stepping down after nine years in the
position.
Brijesh Jeevarathnam is tapped to replace the retiring
Kelly Meldrum.
School brings aboard three New Englanders and
establishes an office more than 1,200 miles away in Boston.
TCDRS has committed a third of the capital it deployed in the sector in 2021.
Carlos Rangel will be among those advising Yellen on
efforts to advance racial equity in the economy.
University does so in first year without legendary CIO
David Swenson.
Canadian pensions to deploy +$90B towards transition,
decarbonization.
65 Equity Partners will help prepare ShopBack for a
potential initial public offering.
Graham joins Manulife from Cigna, where he was CEO for
the Asia Pacific region.
Innovafeed will use the funds to expand a vertical
insect farm in France and accelerate its international expansion, notably in
the U.S.
System approves new asset
allocation target that increases credit and public equity while lowering real
estate and interest-rate sensitive strategies.
System, however, bested other public pension plans thanks to diversified
strategy.
The fund moved to lower carbon benchmarks for its New
Zealand equities portfolio in May.
The investment will support the development of the Rye
Park Wind Farm in New South Wales.
Inaugural Hall of Fame recipient, Mansco Perry, CIO of Minnesota, surprises mentor and inducts Bicker alongside himself.
Richelle Sugiyama is tapped to replace retiring Bob
Maynard.
Christopher Schelling starts 512 Alternatives after
recent stints with Venturi Private Wealth and Windmuehle Companies.
The
system saw the largest annual gain in its history during the 2021 fiscal year.
Study by KKR finds CIOs
are looking to increase exposure to illiquid investments but want ones
providing more upfront yields.
Tray.io is focused on solving the problems companies
face as they undergo rapid digital transformation.
System receives OK to invest in new funds from Raith
and Homestead Capital.
KLP aims to pour at least $550M each year into ‘climate-friendly
investments.’
The announcement comes nearly two decades after the
failure of Nigeria Airways, in 2004.
UniSuper’s current look-through exposure to fossil
fuels is 2.8%.
Had been a member of the alternative credit team for
the past three years.
SIC had backed prior funds from Intermediate Capital
Group and JMI.
Both funds get board approval to submit budgetary
increases for legislative review.
School
currently has approximately 30% of its endowment invested in VC.
Issues with leakage mean that rather than solving
climate change, some green hydrogen projects could exacerbate it.
System is currently overallocated to sector.
Ros McKay joined Cbus’ responsible investment team
four years ago as head of stewardship and policy.
System backs Two Ardian Funds and an Oak Street real
estate fund.
CIO
Jagdeep Singh Bachher wants to ‘bring home’ capital after seeing China’s
actions during the pandemic.
The $24.3 billion Louisiana system commits $425 million.
University
of California’s investment arm now has more allocated to cash than it does to
private credit, real assets, or absolute return.
Michael
Nguyen will serve as director of investments at the $4.5 billion endowment.
But
SWIB’s private markets CIO said division will continue to work with consultants.
Institutional
investor sees value in company providing an array of home services.
‘Trickledown effect’ impacting the staffing levels from the CEO to the managing director level.
SWF targets private income & infrastructure, PE
funds.
System
in rare position to not only pursue fund stakes, but also do more co-investing.
Blue
Opal Capital, Abu Dhabi Investment Authority, Ahmed Al Mosa, Federico Jost,
Sebastien de Jong
New asset
allocation strategy ups target to private equity to 15%, doubles target for
private credit to 10%.
Plan also seeks to give leadership more authority to
approve fund investments, co-investments, and secondary transactions.
Sale to Australian Atlas Arteria valued at over $2B.
Oregon Public
Employees Retirement Fund, Maine Public Employee Retirement System and the New
Mexico Educational Retirement Board among those who benefitted from being overallocated
to PE.
Raynald
Leveque succeeds Larry Johansen in overseeing $11 billion program.Raynald
Leveque succeeds Larry Johansen in overseeing $11 billion program.
CIO of $1.4B SWF eyeing U.S. PE, MBS, fixed income
after H1 2022 market tumble.
MetLife, Prudential paying some pension benefits after
January 2023.
Director
of Investments Joshua Fenton will succeed her in 2024.
Data shows that Africa’s venture capital market is
growing, despite the downturn in other markets.
A recent study by Global SWF found that NZ Super Fund
was the top performing sovereign wealth fund globally.
Former
Carnegie Corporation of New York managing director tapped to guide investment
activities of Michael Dell’s family office.
Two teacher pension funds struck $500 million deal to
invest in logistics centers in March.
Over the past 10 years, the fund has generated returns
of roughly 12% per annum.
HESTA wants the
country’s largest corporates to commit to having diverse executive leadership
teams by 2030.
Retirement board approves $500M+ commitments.
Perry to receive the award from former SBI executive director and mentor, Howard Bicker.
School
sets a goal to invest at least 2.5% of $4.7 billion fund in climate-solution
companies or asset managers.
Former Employees’ Retirement System of Hawaii CIO nabs
role with bank’s asset management arm.
Valuations are at distressed levels, but potential
policy changes could reignite stocks.
Matthew
H. Stone, who oversaw public markets and absolute return, is stepping down
after 23 years.
System backs CoinFund Ventures among four commitments done
over the summer.
AGL Energy, Origin, Santos and Woodside have been
placed on a watchlist.
Pension
fund invests in two of the infrastructure firm’s funds; deploys $1B in total to
eight funds in July.
Helen
Rattee will work to ensure OPE’s portfolio is constructed to mitigate risks
while capitalizing on ESG opportunities.
Sovereign wealth fund invests €10 million in Ocean 14 Capital’s fund,
joining such other LPs as European Investment Fund and Niklas Zennström.
Jonas Nyquist leaves Saudi Aramco investment subsidiary to start own
firm.Jonas Nyquist leaves Saudi Aramco investment subsidiary to start own
firm.
Former USC Managing Director Edgar Smith chosen to oversee Plans’
$4 billion in Assets.
System
is currently limited to 20% of its allocation in private equity, credit, hedge
funds and infrastructure.
Pentagreen Capital
will be led by Marat Zapparov.
Sohel
Hussain steps in on interim basis to lead $1 billion endowment.
Edgar
Smith’s future plans are not known.
Alternatives partly offset losses in equities,
delivering a positive return of 7.3%.
System, though, remains active in the asset class,
deploying $5.1B in the first half of ’22.
Susan Schmidt joins from Avia Investors.
Pension
fund gets OK to shift 20% of public equities to low-carbon index and to adopt a
net zero investment decision process.
Partnership targets MISO, PJM, Western interconnections
as well as 1 GW portfolio.
Credit
would account for nearly a quarter of the system’s portfolio under new asset
allocation plan.
System
is now searching for a CIO to replace Elizabeth Burton, who left at the end of
June.
Brian S. O’Neil has held the role since 2002.
Kate
Carder has been promoted to replace Christopher Longee, who recently retired.
Longtime Caltech Senior Managing Director Pasy Wang tapped for role.
The pound has been steadily weakening as inflation surges, recession fears build, and industrial pay disputes worsen.
System
posts listings for two new roles; individuals would report to Deputy CIO Scott
Chan.
Peter Pereira Gray will step down at the end of September and become
emeritus partner, investments; CIO Nick Moakes will continue to lead investment
team.
Sonja Saunderson’s appointment comes soon after South
African regulators amended rules to allow retirement funds to significantly
increase their offshore allocations.
Retirement system’s new allocation expected to address
higher liquidity needs.
‘Execution management’ firm Celonis now valued at $13B
after latest round.
Pension fund puts more than $100 million into four
such firms.
David
Lee will be replaced by colleague Chris Cassidy at end of September.
Jill
Schurtz has led St. Paul Teachers’ Retirement Fund Association.
The capital injection from ADIA will be used to drive the
insurer’s growth in India.
CIO Ben Squires tells Markets Group the move is aimed
at reducing risk as the clean energy transition gains momentum.
State’s AG says prior statue gives it the ability to
do so; would use it as an another means to implement leverage.
Akili
will use proceeds for its treatment for ADHD.
Respondents
see VC as most overvalued and are more wary of emerging markets.
Florida hopes to join forces with other states ‘to be
a counterweight to ESG.’
Mercer Super also recently announced a merger with
Westpac’s BT Super.
Lauren Gellhaus took over role in 2020; next
move not disclosed.
KIC also announced the appointment of Hoseok Jung as
chief risk officer.
MEABF selects three managers as it begins shaping its
asset allocation strategy.
SBA
currently restricted from making new PE, VC, credit, hedge fund and
infrastructure commitments.
Michael
Nguyen had been with MBOI for five years.
Canadian, U.S. and European funds have been giving the
fund advice as it aims to become a large global player.
Private
equity receives nearly half of the commitments.
Steve Willer tasked with bringing 10 funds into compliance with their
asset allocation targets.
Plan
board also commits more than $1.5 billion to fund and co-investment
opportunities.
Spot opened up after Michael Shackelford became CIO of
Public Employees Retirement Association of New Mexico.
Ohio Public Employees Retirement System, OPERS, Paul
Greff, NEPC, Private Credit.
Fund has grown by 60% during his eight years at the
helm.
ANZ says broad policy changes are required to avoid
another economic downturn in the third quarter.
Private equity firm exceeds target goal; will invest
in healthcare and technology.
Bogdan
“Bo” Cenanovic now a managing director with PSG.v
The
act is a ‘big step forward’ and provides much-needed policy certainty for
institutional investors, allocators and scientists tell Markets Group.
Canada’s largest pension plan was active in both backing funds
and in co-investments.
The asset manager says it will only turn positive on
equities again when central banks turn more dovish.
The investment groups have formed a new vehicle called
23S Capital.
Pension
plan is in midst of implementing recent asset allocation changes.
Healthcare
provider and insurer is largest nongovernmental employer in Pennsylvania.
Blackstone, KKR, TPG, Apollo, Ares, Brookfield, EQT and Carlyle have
more than $700 billion of dry powder.
Carina
Coleman leaving Sempra Energy; fills spot vacated by retiring Liza Crisafi.
She will manage the $1B
endowment August 22 after leaving Yale New Haven
Ray
Ciranna delays retirement, but successor will pick replacement for Ray Joseph.
Move comes days after DOJ closes investigation; Robert Devine has served as
interim CIO for past 8 months.
Private
Equity, Real Estate, Secondaries, Jefferies, Wilshire Associates, Coller
Capital, Los Angeles County Employees Retirement Association, LACERA, New
Jersey Division of Investment, Washington State Investment Board
A talented pianist as a teen, she now advocates taking
risks and thinking long-term.
Green ammonia is a zero-carbon fuel and acts as a
storage and transport medium for green hydrogen.
The fund has sold its stakes in oil and gas groups
Woodside and Santos, among others.
Up to 1,200 new homes will be built under Australian
Retirement Trust’s partnership with QIC.
The shift to clean energy means ‘one of the biggest investment booms of all time – and the spending is not optional.’
The fund has launched a three-year strategy aimed at
digitization, upskilling, and better service levels.
Diversification will become more important, particularly
as opportunities open in emerging markets, investors say.
Empire State retirement system remains active in PE,
real estate.
Noradeen
Farlekas is now an assistant professor at Fairfield University.
She
spent nearly seven years at the Ivy League school’s endowment.
Jonathan
Popielarski leaving role as director of private assets; Justin Maistrow becomes
deputy CIO.
Survey
says they are showing less interest in growth equity, new managers and Asia.
System told to increase private equity, decrease
international equity.
Plan
has allocated more than 25% of $1B program; also seeks to diversify
international equity portfolio.
Jamie
Hamrick tapped to fill spot vacated by Liza Crisafi’s retirement.
Kentucky
Public Pensions Authority is the latest, tapping Steve Willer to replace Steven
Herbert.
Proposal would have allowed staff to allocate some
capital without board approval; board members ask for oversight.
Outflows in the first half of 2022 reached a record
$71.9 billion, with withdrawals from equity markets leading the way.
Women
tend to live longer, meaning they require additional retirement savings.
Jared Speicher set to head North American buyout
investing for MetLife.
Bril will serve as head of responsible
investment; joins from Arabesque Asset Management.
Potential
to reduce fees paid to PE managers and generate strong returns spurs
institutional investors to find ways to collaborate with firm managers.
Baggesen replaces Andrew Junkin, who took CIO role at
Virginia Retirement System.
SERS board had postponed committing to the funds in
June over diversity concerns.
Hodel
named to fill position following departure of Elizabeth Burton; search ongoing.Hodel
named to fill position following departure of Elizabeth Burton; search ongoing.
$20
billion fund is expected to focus on private equity, real estate, and private credit,
according to job listing.
Alaska Permanent Fund Corp. CIO discusses challenges of managing $79.5 billion AUM SWF.
Cando Rails operates the Central Manitoba Railway in
Winnipeg and owns switching operations in Wisconsin, Michigan and Arkansas.
System
benefitted from being under-allocated to stocks.
Marenda likens industry to what hedge fund industry
was like in its infancy; calls blockchain technology potentially revolutionary.
Disaster relief, medical research, domestic violence
and climate change are among the causes that Australians are most interested in
supporting, says Elston’s head of philanthropy.
Orida will replace Neil Cunningham, who is set to
retire.
School
– a big backer of venture capital – sees year-to-date gains through May.
With exception of private equity, system is in sync
with new asset allocation policy.
Strong
returns from private markets cannot offset equity and fixed income losses.
The superannuation fund for employees in hospitality,
tourism, recreation and sport attributes its outperformance to active
management.
Meier is the one-time interim CIO of the State of
Connecticut; fills spot vacant since end of ’21.
Shackelford comes from North Dakota State
Department of Trust Lands.
System
looks to double investing in sector in ’22, driven in part by success in
backing natural gas entities.
TRS has lost 21 people over past two years to outside
firms.
While a U.S. recession would probably be shallow,
returns across asset classes are likely to be muted moving forward.
PIF to become second-largest shareholder in Aston
Martin.
System
commits to two firms already in its portfolio.
Pension plan also discloses that it took part in a
co-investment with a PE manager.
Plan’s board approves Bernhard Capital Partners, Hark
Capital and TPG funds.
JPMAM’s Michael Cemblest, and BCA Research’s Matt Gertken discuss strategizing for geopolitical risk.
StepStone
Group expects industry to also have poor results over at least the next two
quarters.
Unlisted assets now comprise 52% of Temasek’s portfolio – a substantial increase from 27% a decade ago.
ERS/EOS
looks to fill two positions to support strong work of consultants and board.
Manav Bansal will head BII’s operations in India – the
institution’s biggest investment market.
Canadian pension system increases Euro infrastructure
exposure with contractor acquisition.
No
stranger to dealing with financial crises, he is preparing the state pension
fund for opportunities.
Musicco says move enables pension plan to
‘capitalize on market opportunities.’
The fund’s members have endured their first annual
negative return since the global financial crisis.
Move
comes months after death of CIO who oversaw PFRS and Detroit General Retirement
System.
Pension plan sees private
equity co-investing as key component but needs the right people to execute.
Battery manufacturer secures commitments from 14
investors, including pensions, insurance companies.
‘Ambitious’ plan involved changing private
equity, private credit, real assets and fixed income mix.
System’s CIO believes most of its peers will
also have negative results.
The investment manager sees opportunities in quality
bank paper, municipal bonds and agency mortgage-backed securities.
However, ANZ
expects China’s GDP growth to slow towards mean global growth rates of 2% to 3%.
He joined 2-year-old institutional specialist Investment Office Resources.
APFC
has invested in a series of funds raised by firm her father co-chairs, the
Carlyle Group.
Longee
oversaw endowment’s real estate, energy and natural resource portfolio for 18
years.
Clarios
will try to push through tough public market.
She resigned her position as deputy executive director July 1.
VRS earmarks $875 million towards credit fund, real assets
Audit
finds SWIB managed less assets in-house in 2021 than in 2017.
State
Investment Council votes unanimously on fund commitments, drops Franklin
Resources
Moseley
joins Wafra Inc. to launch co-investment initiative.
Not-for-profit
OCIO has nearly $8 billion in assets under management.
The executive director of Fonds de Réserve pour les Retraites discusses macroeconomics, megatrends, and ESG
Some investors, including Temasek and PIMCO, are
seeing value in U.S. Treasuries.
Search
begins for new leader for PE-focused LP group; Choi to serve as interim head.
Manilla to be replaced by Deputy CIO Barker.
System hopes to enable participants to choose from DB
offerings, including private equity and real estate.
Plans see, project big savings from bringing investment functions in-house.
Hollenbeck’s
duties will be assumed by Steven A. Soloria.
Cooperation agreement aims to spur investment networks in Africa, includes 12 SWFs.
Above
target, plan makes no new commitments in May, but does back private credit and
real assets funds.
The 73 members of the Net-Zero Asset Owner Alliance
have $10.6 trillion in assets under management among them.
Consolidation is already sweeping through the
industry, with at least nine mergers either in progress or under serious
consideration.
Bills
would have forced pension funds to sell off some $13B of assets.
Person tapped would replace
Andrew Junkin and take over plan that is set with PE in 2022.
ASIC has published a set of guidelines for
superannuation funds.
Future Fund says it is using Sue Brake’s departure as an
opportunity to restructure its investment team.
New York-based alternative asset manager Weiss
Multi-Strategy Advisers thinks concerns about regulatory risks are overblown.
Budde had been with firm since 2005; also worked at
ABRY Partners.
Long-term
policy allocations could increase 10-year returns from 5.9% to 6.3%.
Sonali Dalal is leaving PSU
for the University of St. Thomas.
System also commits over $5 billion of capital to
managers.
He spent 14 years at the endowment after leading
private markets at Teacher Retirement System of Texas.
Power Sustainable two-thirds of the way toward closing the North
American-focused fund.
Mayor of Palm Springs, Calif., appointee to the CalPERS Board of Administration and the first transgender person elected to political office in California, on what companies can do to protect LGBT employees.
Increase is reportedly the largest single rate hike in
a single meeting since 1994.
Growth and late-stage VC expected to take worse
hit – an event that may slow fundraising rush.
State
begins nationwide search for a replacement; Conroy named interim CIO.
Merger would create fund with $49B under management.
Staffan Hansén will join the fund on or before December 1.
CalPERS’
Musicco & UTIMCO’s Hall start new roles in downturn.
Kirk Sims joined the $180 billion Teacher Retirement System of Texas (Texas TRS) in 2019 to direct its emerging manager program, and has coached a 5-year annualized return of 11.1%. Here's how he does it.
She will take over building
an investment business for the $900 million University of St. Thomas.
Survey
finds majority expect allocations to increase by between 5% and 10%.
SERS had been set to commit $125 million to Sentinel
Capital Partners.
Veteran CIO describes balance needed to work at a
public pension plan.
Sovereign
wealth fund moves quickly to replace former head Petter Johnsen.
Pension
plan sells Calgary producer to PE Firm.
Other
institutions using different approaches or holding off, given drop in bonds.
Canadian pension plan
sees asset under management grow significantly.
Charles
Nielsen takes charge of the $34.8 billion fund after Robert Clark’s departure.
Pension fund also approves
commitments to three other funds.
University weighing to invest in 18 managers
discovered during process.
System
backs Sentinel Capital Partners despite board concerns.
Vinzons
joins from Cook County Pension Fund.
New plan would streamline process and enable
more capital to be deployed.
Pension
fund sees benefits of investing in Sequoia Capital’s new funds outweigh risks.
After a drop in 2021, capital raised but not committed
increases.
However, the world’s largest asset manager still favors
developed market equities and inflation-linked bonds on a long time horizon.
The Public Investment Corporation says its operations
head has been suspended pending the outcome of an independent inquiry.
He oversaw Rice University’s Endowment for many years.
Canadian pension plan combines two units to back
companies poised for ‘transformational growth.’
Acrisure will use the capital to continue acquisition
momentum.
PERS Sees Value of Stocks Decline by Nearly $3 Billion
Between March and April.
Private equity firm will use $25 billion fund
to invest in an array of sectors and geographies.
The IMF does not expect a global recession to materialize, although the risks are increasing.
Janus Henderson: BHP is set to be the world’s
largest dividend payer for the second year in a row.
Asset holdings have been boosted by investment gains and above-average client contributions.
Venture firm sees Web3 entering
‘golden era.’
Canadian pension fund poised
to invest in healthcare, vegetable deals.
Climate change could cost the global economy $178 trillion over the next 50 years if left unchecked.
State
investment commission also approves new fund commitments as CIO prepares to
leave.
Junkin
will leave Rhode Island and replace Schmitz.
Pension fund
urged to expand peer group and tie compensation to performance.
While the strengthening of the dollar has translated to
positive returns for some investors, the longevity of the currency’s rally is uncertain.
UniSuper is looking to broaden its reach, while ACS says its members will benefit from greater scale if the merger goes ahead.
It’s the third mandate since 2015.
Private equity fund of funds is the first for MIM.
A quarter of the division’s positions are open, but aggressive hiring push is on.
Elizabeth Burton’s future plans are not known.
He has been serving as
As
the denominator effect hits more institutions than usual, it may crimp investors
and make it more difficult for GPs to raise funds.
Its
first investment is all about monitoring carbon.
Fund will make direct investments across PE, private credit, infrastructure and real estate.
Survey shows ESG and diversity and inclusion on the
investment team given less importance.
The pension fund is seeking to
select a firm by early June.
Doñé to oversee Platinum's strategic planning and investor capital development.
The $30 billion Los Angeles Fire and Police Pensions is looking for his replacement.
After a brief garden leave, Ash Williams, former CIO of the Florida SBA, is back in the industry. Why he chose JPMAM, and what he’s watching.
State's Russian investments at 'write-off' point.
Pension fund will look to find new managers.
Board Approves List of Qualified Candidates
Acrew's Gouw makes notable donation.
Pension fund eyes sale of fund-of-funds stakes.
Plan could allocate more than $300M to asset class in 2022.
New target will help plan move toward endowment model.
Rip Reeves is planning to become a teacher with LSU; a
search for his predecessor is ongoing.
Pension is also searching for new personnel in sustainable investment and stewardship, direct private equity, private equity, risk mitigation and real estate.
Decarbonization Partners joins startup's $125M round.
Battery Ventures, New Mountain, Threshold and ArchiMed are among those backed.
CalSTRS, Florida SBA and Orlando Police pension fund among other pension funds with stakes in social network.
Prior CIO held the post for 10 years.
Plan would move slightly away from some international equities.
Fund seeks to deploy 3% of assets into each sector.
Oil fund sees negative returns across equity, fixed-income holdings.
Unit gets a new name and target.
VC and real estate targeted for hikes.
Dinneen was previously CIO at Hamilton College, where she oversaw $1.5B endowment.
Hire could mark a strategy change for university.
Change marks the second increase to sector in two years.
Pension fund's longstanding policy is paying off.
The position will be responsible for all aspects of the governance program for the investment division and the system.
System names Florida SBA Deputy CIO Alison Romano to CIO and CEO positions.
Makes move despite past criticisms of fees paid to managers.
Funding round should hold Tarana until offering.
PERF has allocated 27% of its fund to private equity and 25.2% to public equities.
Penson's hedge fund allocation moves to 3% from 6% to save on asset management fees.