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.
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