Amundi US Names New Chief Investment Officer

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.

Jacobs Named RWJBarnabas’ New CIO

Upon achieving some of the highest returns in the industry at NYU, Jacobs quit and is now resurfacing.

Mark Mobius to Step Back From Mobius Capital Partners

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.

AP Pension Hires Pernille Jessen as Investment Director

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 Bank Appoints New CEO

City National has named Howard Hammond as the new CEO. The appointment is effective on November 27th.

Amundi Appoints Eddie Wong as Their Asia's CEO

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 as the Next President of PRINCO

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.

CEO of SJCERA Johanna Shick Set to Retire in March

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.

From 38% Funded to 101%: Exclusive Interview with Hall of Fame CIO Jonathan Glidden of Delta

The story of an investor who turned his airline fund toward success during the pandemic, when planes weren't even flying. 

PPF's Chief Executive Oliver Morley to Step Down

Oliver Morley will leave Pension Protection Fund (PPF) on December 2023 to become the Chief Executive at The Money and Pensions Service (MaPS).

Morgan Stanley Names Ted Pick as CEO

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.

Teachers’ Retirement System of Illinois Appoints Ghiané Jones as Deputy Chief Investment Officer

The Teachers' Retirement System of Illinois (TRS) has appointed Ghiané Jones as the new deputy chief investment officer, starting from October 10.

Ireland Plans Sovereign Wealth Fund

A-Rod is Poached

Star investor Anthony Rodriguez leaves NYC BERS for a role custom-created for him.

After Achieving Top Returns His First Year, David Veal Receives Strategy Award

At Austin Institutional Forum hosted by Markets Group, Veal discussed what he’s focusing on as the new CIO in the post pandemic environment.

Scoop of the Week: New York University’s Chief Investment Officer Leaves

After leading a 68.6% increase in 8 years, Kathleen Jacobs’ last day was Sept. 30

CalPERS Chief Investment Officer Nicole Musicco to Exit Sept.29

She will be the 7th Chief Investment Officer in two decades to leave the largest pension fund in the United States. 

People News: CalSTRS Promotes Julie Donegan as Real Estate Investment Director

In taking on the role, Donegan became the first woman real estate director.

How CIO Bob Jacksha Made Returns During a Year Many Did Not

Some might call him an outlier, but Bob Jacksha's less conventional strategies paid off when he needed them most in 2022.

Rebalancing Discussion with CIO Don Pierce and Arun Muralidhar

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.

Part 3 of Doug Brown’s Successful Strategy as a Mentor: Grooming His Heir-Apparent

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.

People News: August

One co-CIO takes over entire CIO role, one strategic thinker gets poached.

Video Interview: A Global Perspective on ESG with Cara Williams

Mercer's global head of ESG and Sustainability discusses how different regions of the world are applying ESG themes to their investment processes.

Op-Ed: Managing the Risks of Ill-liquid Assets

A simple method to manage unmanaged risks in portfolios (that were exposed in 2008)

CIO David Veal on Achieving a Top Performing Public Fund in the USA

The chief investment officer hired for Texas ERS during the pandemic led the team to achieve what few can.

CIO Robin Diamonte: Calling for Collective Data to Improve Retirement Savings for Minorities

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. 

Op-Ed: Top Considerations for Alternatives in 2023 – Private debt

Greater dispersions ahead, warns Mercer columnist David Scopelliti 

New Chief Investment Officer Appointments

Cbus, Ontario Municipal and TTC all appoint new CIOs

Video Interview: An Allocator-to-Allocator Discussion on Lessons Learned

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.

CIO Kathleen Vogelsang Discusses Downside Protection, International Markets, the Denominator Effect, and the New Economy

This exclusive interview with the chief investment officer of the Van Andel Institute includes her boots-on-the-ground observations in Asia and Europe.

Teia Merring of USS Elected ILPA’s Board Chair

ILPA's new board was unanimously elected

Part 2: Angie Buk’s Rise from Part Time Employee to CIO

In a series about how Doug Brown mentored future CIOs, we follow a woman who became a CIO at two public companies.

CIO Angela Miller-May’s Diversity Strategy at IMRF

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.

Part 1: How Doug Brown of Exelon Mentors Future CIOs

CIO Neil Roache of J&J discusses the “Doug Model” in a series about 5 mentees (and counting) who rose to CIO seats.

Liz Fernando Promoted to CIO of Nest

Fernando has a goal to increase the fund's exposure to private markets.

During Proxy Season, CalSTRS Will Focus on Climate Change and Diversity

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.

CIO Derek Bills: Kicking the Tires in the New Economy

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.

A Case Study on NYCBERS' Digital Transformation of Its Investment Office

Upgrading tech systems gave this New York fund a competitive, digital edge.

Manpreet Gill on Encouraging Diversity through Debate

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.

Exit Interview with Bob Hunkeler of International Paper (Video and Transcript)

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. 

Britt Harris to Leave Role as CEO and President of UTIMCO

Harris will depart from his role at the $66 billion investment organization June 30.

OP-ED: Top considerations for Alternatives in 2023 - Infrastructure

Many investors naively assume that if an infrastructure asset’s cash flow is in some way inflation-linked, that is enough.

Video Interview: Javier Alberti Soto of the Denver Foundation: How to Apply DEI to a Foundation’s Fabric

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.

Exclusive Interview: Linda Trusler of Legalsuper

A quick discussion on female representation within the finance industry by Legalsuper's head of strategy.

Virgilio “Bo” Abesamis Gives Advice on Technology, Due Diligence and Onboarding Board Members

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.

Bill Coaker: CIO of Fusion-centric TAE Technologies

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.

Mansco Perry Joins Oaktree’s Advisory Board

Minnesota’s CIO resurfaces after retiring in October.

People News RoundUp

New Appointments for CIOs and Allocators

Lou Fernandes Becomes The Museum of Modern Art's New CIO

The CIO was poached from NYU.

Carol Tusch Named New CIO at International Paper

Bob Hunkeler will retire at the end of the quarter.

PSERS Hires New CIO

Ben Cotton will take over for Bob Devine and Jim Grossman, all PSERS staff cleared of wrongdoing.

Exclusive Interview: Michael Kennedy on How Candidates Should Prepare to become Chief Investment Officers

Rising star allocator Ratna Kota asks the questions up and comers want to know for new Bridging the Gap series.

Britt Harris Inducted into Hall of Fame by Markets Group

Investors give standing ovation and enumerate his many contributions to the industry.

Kristin Varela Chosen as Hawaii’s CIO

New Mexico's interim rising star beats pool of 200 applicants.

Exclusive: Bob Maynard Reflects on Taking PERSI from a 'Disaster' to an Essentially Fully Funded Plan

Regarding board politics, “If you can't really explain what you were trying to do, you've got problems,” said Maynard.

St. Paul and Minnesota Foundation CIO Details How to Build a Socially Considerate Portfolio

Shannon O'Leary: I have seen a number of firms significantly damage their investors via rampant group-think.

Annie E. Casey Foundation Seeks to Fill Key Investment Position

Director of marketable investments, Jackie O. Gifford, joins OCIO.

Legalsuper CEO Andrew Proebstl Steps Down

Trevin Erichsen will serve as interim CEO while a full-time replacement is found.

Another Merger on the Cards in Australia’s Superannuation Industry

A merger between CareSuper and Spirit Super would create a fund with 500,000 members and US$29 billion under management.

Florida SBA Finds Opportunity to Commit to PE Funds

Drop in alternative holdings allows SBA to back five funds, including one focused on digital assets.

Another Grey Swan Event: What a Chinese Invasion of Taiwan Would Mean For Investors

Because Taiwan Semiconductor Manufacturing Co. is comfortably the world's largest contract manufacturer of semiconductors, a takeover could have far-reaching impacts.

Australian Super Fund HESTA Makes Green Hydrogen Play

HESTA will be provided a first right of refusal to invest in existing and new projects by Countrywide Hydrogen.

Oman’s Sovereign Wealth Fund Considers Backing Huge Wind Project in Egypt

The Oman Investment Authority will consider owning up to 10% of the project, which is valued at $1.5 billion in total.

Australia’s Cbus Super Adopts E.U.’s Stricter Emissions Reduction Framework

This means it will adjust for changes in asset enterprise values so that its carbon intensity reductions are more accurate. 

Saudi Arabia’s Sovereign Wealth Fund Forms Electric Vehicle Company With Foxconn

It will license component technology from BMW for use in the vehicle development process.

LACERS Poised to Invest Less in Private Equity in 2023

System will look to launch co-investment program and do more internationally.

CalSTRS’ Top 10 Stock Holdings Now Include Exxon Mobile and Berkshire Hathaway

Meta Platforms, Samsung Electronics and Nvidia have all fallen out over the course of 2022.

Private Equity Drags Down CalPERS' Results

Program’s private equity program reports a loss, leads to restatement of year-end numbers .

Trinity Church Wall Street Seeds NYC Affordable Housing Fund

MSquared Affordable NYC Fund marks a first for Trinity.

Investors With $42 Trillion in AUM Call For Faster Decarbonization Ahead of COP27

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.

WSIB Votes to Approve Transportation, Infrastructure Fund Investment

Washington State pension system will commit up to $250 million.

CalSTRS Sees Co-Investing Accounting for a Third of PE Deal Flow in Two to Three Years

Effort to do more such deals is driven by a desire to reduce costs by $300 million annually.

Government Pension Fund of Thailand Translates Influence into Action

Secretary General Dr. Srikanya Yathip details how the fund executes on its ESG mission.

Investing in Private Equity in ’23 Could Prove Challenging to Over-Allocated Institutions

Expected shortfall in distributions and tough secondary market may lead to reduced commitments.

Super Funds Gear Up for Australian Government’s Affordable Housing Drive

The government will form a national ‘housing accord’ with local governments, investors, and the construction sector.

Saudi Arabia’s Public Investment Fund Aims to Deploy $24 Billion Across the Region

The fund will set up investment companies in Bahrain, Iraq, Jordan, Oman, the Republic of Sudan, and Egypt.

Singapore’s Temasek Shakes Up Top Management Team

Among other changes, Tan Chong Lee, currently the group’s president, will be transferred to 65 Equity Partners as CEO.

Hong Kong’s Pension System Has Shed Nearly a Quarter of Its Value So Far This Year

The MPF system is on track for its worst annual performance since 2008.

Head of Equities Departing from Ontario Teachers’ Pension Plan

Karen Frank’s plans after two years in the role are not known.

University of North Carolina and NC State Each Generate Positive Returns

Third school in Research Triangle, Duke University, posts a 1.5% loss.

Dalio Family Office Lands YMCA Retirement Fund’s Head of Private Investments

Ivan Manolov spent nearly 11 years at YMCA Fund.

New Zealand’s Sovereign Wealth Fund Expects to Triple in Size by 2035

Because no withdrawals from the fund are expected until 2035, it invests mostly in risk assets.

NZ Super Fund Narrows its Gender Pay Gap

The under-representation of women in leadership positions has been identified as a major contributor to the pay gap.

New York State Teachers Pulls Back on PE, Real Estate in ’23, Eyes Infrastructure for First Time

System reducing pacing plans for two sectors – despite strong gains from both.

Yale Lone Ivy League School to Report a Gain for Fiscal Year

Princeton said its endowment was down 1.5%.

CalPERS’ Head of Private Equity Departs

Greg Ruiz joins Jasper Ridge Partners after helping ‘turn around’ CalPERS’ PE program.

NJ Division of Investments Reduces Portfolio Allocations, Ramps Up Cash Holdings

Retirement system raises cash holdings 6 percentage points above policy target

Australia’s Future Fund Increases Allocations to Alternatives

The A$193 billion fund’s portfolio sank 0.6% during the quarter as equity and bond markets retreated.

Something to Quack About: Aflac Will Soon Have a New CIO

Bradley Dyslin to replace retiring Eric Kirsch.

New Mexico State Investment Council Hits Annual Commitment Target for Private Equity

Sovereign wealth fund backs three sector funds and also commits to infrastructure and distressed lending funds.

Mississippi PERS Focused on Reaching Value-Add Real Estate Target

Board approves commitment to Angelo Gordon Realty.

Oregon State Treasury Fills ‘Fundamental” Role with CalSTRS’ Team Member

As stewardship investment officer, Philip Larrieu will focus on maximizing Oregon’s public equity holdings through corporate engagement.

Vince Smith: Raised and Educated to Work at Public Pension Funds

New Mexico State Investment Council CIO reflects on career, investment changes and millennials. 

Church of England Pensions Board, Nordic Funds Target VW Over Climate Lobbying

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. 

Alameda County Employees Retirement Association Poised to Expand Emerging Investment Manager Program

Currently comprising 5.4% of the portfolio, it can be expanded to 10% over the next 10 years.

CDPQ Names New Head of Private Equity

Martin Longchamps is hired from PSP Investments, replaces Martin Laguerre.

ADQ Backs Women-Led Middle Eastern PE Firm

Abu Dhabi sovereign wealth fund commits half the amount that Aliph Capital is seeking to raise.

PSERS Commits to 4 Funds, Puts in Place Plan to Reduce Private Equity, Private Credit and Real Estate Allocations

System is looking to ramp up its activity in infrastructure.

Renewable Fuel and Sustainable Energy Charge Up University of Michigan Endowment’s Return

U-M reports a gain of 2.2%, making it the third Big 10 school to post a positive number for fiscal year.

UniSuper Appoints New Chairman

Retiring Ian Martin has served as chair since 2017.

State of Wisconsin Investment Board Seeks to Fill Key Role

Head of risk asset and risk allocation role has been vacant since Edwin Denson became CIO in April 2021.

BT Pension Scheme Says Climate Change is Fuelling Food Price Inflation

The plan has a 2035 net zero target.

As Truss Resigns, BT Pension Scheme Reveals It Took $12 Billion Hit From Mini-Budget

The prime minister resigned on October 20 after less than two months in office.

Australia’s Economy Will Hold Up Better Than Most, Says Lonsec Investment Solutions CIO

The country’s large energy and materials industries will likely shield the local economy.

San Francisco Employees Retirement System Commits to Three Biotech Venture Funds

SFERS is enduring a tough 2022, thanks to steep declines in public markets and fixed income portfolios.

Pension Funds Ramp Up Efforts to Fill CIO Openings

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.

Exclusive Interview with Tom Tull: Be Proactive, but Don’t Feel Pressure to Invest

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.

Virginia Retirement System Terminates One Manager, Commits to Two Others

CIO Ronald Schmitz also expects private equity returns to be a bit stronger than hoped.

Bloomberg’s Willett Advisors Adds Former Member of Northwestern University’s Investment Office

Neil Shah helped oversee private equity and real assets at NU.

Hamilton College Hires New Chief Investment Officer

Lauren Jacobson is tapped to fill role that has been vacant since Anne Dinneen’s departure in April.

Brunei Investment Agency in Talks to Fund South African Medical Cannabis Group

Labat Africa exports medical-grade cannabis to Australian pharmaceutical drug company PharmaCann.

Netherlands’ Largest Pension Fund Buys into America’s Biggest Solar-Plus-Storage Project

Gemini is a 690MW solar plus 1,416MWh battery energy storage facility that is expected to be operational in 2023.

CDPQ leads Series D Fundraising for Virginia-based Organic, Indoor Farming Company

Canadian pension manager commits to $125M round of financing for Soli Organic.

Maine Public Employees Retirement System to Exit from Audax Lending Strategy, Invest in Farallon Fund

$17.8 billion system is building up its risk diversifiers portfolio.

Real Estate, Private Equity Propel Washington State Investment Board to Strong Fiscal Year

WSIB’s returns are currently second only to Oregon Public Employees Retirement Fund.

PSERS Produces a Positive Return as It Seeks New CIO

The $75.9B system joins the small group of public pension funds that generated a gain for the 2021-22 fiscal year.

Focus Turns to Princeton University’s Fiscal Year Results

Yale University is still the only Ivy League school to generate a positive return.

AP1 and NGS Super Among Backers of New Climate Impact Fund

Lightrock exceeds target thanks to bringing in a global mix of institutional investors.

YMCA Retirement Fund Promotes Sinni to Deputy CIO

Sinni has been with $8.7B fund since 2013, crafting strategic asset allocation and overseeing parts of the portfolio.

Rosalind Hewsenian Reflects on Building Helmsley Trust Investment Office & Pending Retirement

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.

Moves over Past 10 Years Paying Off for School Employees Retirement System of Ohio

CIO Farouki Majeed sees benefits in switching away from hedge funds to private credit and infrastructure.

National Geographic Society Adds Director of Investments

John Coombe joins from the RockCreek Group.

Holmgren, Team Leave on a High

David Holmgren and his investment team finish the year as high achievers as they exit Hartford HealthCare.

CCLA Launches Corporate Mental Health Benchmark; Focuses on Governance, Policy

U.K. investment firm launches index to model mental health engagement at top 100 largest companies.

Abu Dhabi Growth Fund, Mubadala Capital Back Biotech Company

Neumora Therapeutics is developing medicines to treat brain diseases.

U.K. Pension Funds Want the Bank of England to Extend its Emergency Bond-Buying Program

The Bank of England has already expanded the program due to the risk of ‘self-reinforcing fire sale dynamics.’

Exclusive: Norges Bank Investment Management on Its Push For ‘Sound’ ESG Standards

The world’s largest sovereign wealth fund has bulked up its teams focused on climate issues.

CDPQ, Others Back World’s Largest Clean Hydrogen Infrastructure Fund

Hy24, a joint venture between FiveT Hydrogen and Ardian, has raised $2B for its first fund.

MMBB Financial Services Hires New Chief Investment Officer

Hyde Hsu joins from the New York City Retirement System.

Teachers’ Retirement System of Louisiana Backs Five New Funds

System commits to three credit funds, a real estate fund and a private equity fund.

Kansas Public Employees Retirement System Names New CIO

Bruce Fink is named to replace Elizabeth B.A. Miller, who retired in July.

Former Head of ESG at Teacher Retirement System of Texas Lands at Wilshire

Lauren Gellhaus will focus on pension plans for the institutional advisor.

Alaska Permanent Fund Corporation Hires New Head of Private Equity

Allen Waldrop fills a role that has been open since Steve Moseley’s departure.

Teacher Retirement System of Texas Commits $800 Million to Funds

Bulk of capital deployed into two private equity funds and a real estate fund.

Singapore Sovereigns, CPP Investments Back Form Energy’s Iron-Air Battery Concept

Energy storage startup raises $450M in Series E Financing

Australian Retirement Trust Appoints New Chair

Andrew Fraser will replace Don Luke, who was previously chair of QSuper and served as CEO of Sunsuper for more than a decade.

Munich Re to Halt New Investments in Oil and Gas Companies

The world’s largest reinsurer will also no longer insure new oil and gas projects starting in April 2023.

Sam Mostyn Appointed Chair of Aware Super

Neil Cochrane is stepping down after nine years in the position.

Adams Street Partners Poised to Welcome New Global Head of Fund Investments

Brijesh Jeevarathnam is tapped to replace the retiring Kelly Meldrum.

Grinnell College Gets “Creative”’ to Build Out Investment Team

School brings aboard three New Englanders and establishes an office more than 1,200 miles away in Boston.

Texas County & District Retirement System’s Private Equity Investing Pace Has Slowed

 TCDRS has committed a third of the capital it deployed in the sector in 2021.

W.K. Kellogg Foundation CIO Named to U.S. Treasury Committee

Carlos Rangel will be among those advising Yellen on efforts to advance racial equity in the economy.

Yale Becomes First Ivy League School to Report a Gain for Fiscal Year

University does so in first year without legendary CIO David Swenson.

Ontario Teachers, CPP Investments Chart Net Zero, 2050 Investment Strategies

Canadian pensions to deploy +$90B towards transition, decarbonization.

Temasek’s 65 Equity Partners Invests in Asian Shopping and Rewards Platform

65 Equity Partners will help prepare ShopBack for a potential initial public offering.

Manulife Appoints Patrick Graham as CEO for Hong Kong and Macau

Graham joins Manulife from Cigna, where he was CEO for the Asia Pacific region.

Temasek and Qatar Investment Authority Invest in Vertical Insect Farms

Innovafeed will use the funds to expand a vertical insect farm in France and accelerate its international expansion, notably in the U.S.

Arizona State Retirement System Ups Private Credit Target

System approves new asset allocation target that increases credit and public equity while lowering real estate and interest-rate sensitive strategies.

Illinois’ Teachers’ Retirement System Reports First Loss Since 2009

System, however, bested other public pension plans thanks to diversified strategy.

New Zealand’s ACC Shifts Majority of Equity Holdings to Low-Carbon Benchmarks

The fund moved to lower carbon benchmarks for its New Zealand equities portfolio in May.

Brighter Super Invests in Australia’s Largest Renewable Energy Business

The investment will support the development of the Rye Park Wind Farm in New South Wales.

Howard Bicker Joins Hall of Fame

Inaugural Hall of Fame recipient, Mansco Perry, CIO of Minnesota, surprises mentor and inducts Bicker alongside himself.

Idaho Public Employee Retirement System Goes In-House for New CIO

Richelle Sugiyama is tapped to replace retiring Bob Maynard.

Former Texas Municipal Retirement System PE Director Launches Alternative Investment Advisory Firm

Christopher Schelling starts 512 Alternatives after recent stints with Venturi Private Wealth and Windmuehle Companies.

Arkansas Teachers Outpaces Benchmarks Despite FY2022 Losses

The system saw the largest annual gain in its history during the 2021 fiscal year. 

Endowments and Foundations Appear Poised to Increase Investing in Private Credit, Real Estate & Infrastructure

Study by KKR finds CIOs are looking to increase exposure to illiquid investments but want ones providing more upfront yields.

CPP Investments Downloads Capital into Fast-Growing Startup

Tray.io is focused on solving the problems companies face as they undergo rapid digital transformation.

Employees’ Retirement System of Rhode Island Nears Allocation Targets for Non-Core Real Estate and Real Assets Sectors

System receives OK to invest in new funds from Raith and Homestead Capital.

Exclusive: Norway’s Biggest Pension Fund on Why Clean Energy Is the Solution to Europe’s Gas Crisis

KLP aims to pour at least $550M each year into ‘climate-friendly investments.’

Nigeria’s Sovereign Wealth Fund Backs New Airline

The announcement comes nearly two decades after the failure of Nigeria Airways, in 2004.

Australia’s UniSuper Places Cap on Fossil Fuel Exposure

UniSuper’s current look-through exposure to fossil fuels is 2.8%.

Pasternack Leaves Role with NYCRS to join Nomura

Had been a member of the alternative credit team for the past three years.

New Mexico State Investment Council Commits to Direct Lending & Private Equity Funds

SIC had backed prior funds from Intermediate Capital Group and JMI.

Iowa Public Employees’ and Alaska Permanent Fund Corp. Seek to Improve Staffing Concerns

Both funds get board approval to submit budgetary increases for legislative review.

University of Michigan Re-Ups with Five of Its Venture Managers

School currently has approximately 30% of its endowment invested in VC.

NASA’s Failed Launch Underscores Green Hydrogen’s Challenges as Investors Pile in

Issues with leakage mean that rather than solving climate change, some green hydrogen projects could exacerbate it.

Iowa Public Employees’ Retirement System Increases Private Equity Allocation Target

System is currently overallocated to sector.

Australia’s Cbus Super Appoints Responsible Investment Head

Ros McKay joined Cbus’ responsible investment team four years ago as head of stewardship and policy.

Pennsylvania SERS Commits to Three Funds

System backs Two Ardian Funds and an Oak Street real estate fund.

UC Investments Seeks to Reduce China Holdings

CIO Jagdeep Singh Bachher wants to ‘bring home’ capital after seeing China’s actions during the pandemic.

TRSL Commits to Real Estate, Distress Debt and Private Equity Funds

The $24.3 billion Louisiana system commits $425 million. 

UC Investments Sees Value in Cash

University of California’s investment arm now has more allocated to cash than it does to private credit, real assets, or absolute return.

Former Montana Board of Investments’ PE Director Lands at Penn State

Michael Nguyen will serve as director of investments at the $4.5 billion endowment.

Idaho Public Employee Retirement System Poised to Name New CIO

 Selected candidate will replace the retiring Bob Maynard.

State of Wisconsin Investment Board Free to Invest in PE & Hedge Funds Without Consultant Approval

But SWIB’s private markets CIO said division will continue to work with consultants.

British Columbia Investment Management Moves into Home Franchisor

Institutional investor sees value in company providing an array of home services.

Executive Search Veteran Renee Neri Reflects on Changing Leadership Roles Post-COVID

‘Trickledown effect’ impacting the staffing levels from the CEO to the managing director level.

APFC Rebalances Public Equities, Increases Tacticals in Q4

SWF targets private income & infrastructure, PE funds. 

CalPERS Could Become a Big Secondary Buyer

System in rare position to not only pursue fund stakes, but also do more co-investing.

ADIA’s Former Longtime Head of VC Joins Investment Firm

Blue Opal Capital, Abu Dhabi Investment Authority, Ahmed Al Mosa, Federico Jost, Sebastien de Jong

Connecticut Retirement Plans and Trust Funds Poised to Increase Investing in Private Assets

New asset allocation strategy ups target to private equity to 15%, doubles target for private credit to 10%.New asset allocation strategy ups target to private equity to 15%, doubles target for private credit to 10%.

CalPERS Looks to Up Its Private Equity & Infrastructure Investing

Plan also seeks to give leadership more authority to approve fund investments, co-investments, and secondary transactions.

CPP Investments, OMERS to Sell Stake in Chicago Skyway Toll Road

Sale to Australian Atlas Arteria valued at over $2B.

Private Equity Proved Key to Pension Funds That Generated Positive Returns

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.

New Hampshire Retirement System Turns to State of Connecticut for New CIO

Raynald Leveque succeeds Larry Johansen in overseeing $11 billion program.Raynald Leveque succeeds Larry Johansen in overseeing $11 billion program.

Q&A: Panama’s Fondo de Ahorro CIO Abdiel Santiago Talks Governance, Navigating Market Dislocation

CIO of $1.4B SWF eyeing U.S. PE, MBS, fixed income after H1 2022 market tumble.

IBM US Pension Transfers $16B in Liabilities

MetLife, Prudential paying some pension benefits after January 2023.

Hewsenian Set to Retire as CIO of Helmsley Charitable Trust

Director of Investments Joshua Fenton will succeed her in 2024.

Venture Capital Investments Boost South Africa’s Momentum Metropolitan

Data shows that Africa’s venture capital market is growing, despite the downturn in other markets.

NZ Super Fund Allocates US$15 billion Towards Low-Carbon Indices

A recent study by Global SWF found that NZ Super Fund was the top performing sovereign wealth fund globally.

Alisa Mall Named CIO of MSD Capital

Former Carnegie Corporation of New York managing director tapped to guide investment activities of Michael Dell’s family office.

CalSTRS and KTCU Poised to Do Second Real Estate JV

Two teacher pension funds struck $500 million deal to invest in logistics centers in March.

Timber and Hedge Fund Allocations Shine for New Zealand’s Sovereign Wealth Fund

Over the past 10 years, the fund has generated returns of roughly 12% per annum. 

Q&A Exclusive: HESTA CEO Debby Blakey on the Super Fund’s Big Gender Diversity Push in Australia

HESTA wants the country’s largest corporates to commit to having diverse executive leadership teams by 2030. 

SFERS Pens Real Estate, Infrastructure, Credit Fund Commitments in July, August

Retirement board approves $500M+ commitments.

Minnesota CIO Mansco Perry to Receive Inaugural Hall of Fame Award September 13

Perry to receive the award from former SBI executive director and mentor, Howard Bicker.

University of Washington Moves to Divest from Fossil Fuels, Up Its Investing in Climate Solutions

School sets a goal to invest at least 2.5% of $4.7 billion fund in climate-solution companies or asset managers.

Elizabeth Burton Joins Goldman Sachs

Former Employees’ Retirement System of Hawaii CIO nabs role with bank’s asset management arm.

Investment Strategists at Bank of Singapore Still Favor Chinese Equities

Valuations are at distressed levels, but potential policy changes could reignite stocks.

University of Chicago Office of Investments Sees Another Team Leader Retire

Matthew H. Stone, who oversaw public markets and absolute return, is stepping down after 23 years.

Teacher Retirement System of Texas Invests in Crypto Fund

System backs CoinFund Ventures among four commitments done over the summer.

Australian Fund HESTA Plans to Halve Portfolio Emissions by 2030

AGL Energy, Origin, Santos and Woodside have been placed on a watchlist.

New York State Common Retirement Fund Takes Liking to DIF Capital Partners

Pension fund invests in two of the infrastructure firm’s funds; deploys $1B in total to eight funds in July.

OMERS Private Equity Appoints ESG Lead

Helen Rattee will work to ensure OPE’s portfolio is constructed to mitigate risks while capitalizing on ESG opportunities.

Constitutional Reserve Fund of Monaco Pours Capital into Water-Focused Impact Fund

Sovereign wealth fund invests €10 million in Ocean 14 Capital’s fund, joining such other LPs as European Investment Fund and Niklas Zennström.

Wisayah Investment Co. Private Equity Head Departs

Jonas Nyquist leaves Saudi Aramco investment subsidiary to start own firm.Jonas Nyquist leaves Saudi Aramco investment subsidiary to start own firm.

Directors Guild of America – Producer and Health Plans Names First CIO

Former USC Managing Director Edgar Smith chosen to oversee Plans’ $4 billion in Assets.

Strong Alternatives Performance May Help Florida SBA with Efforts to Lift Restrictions

System is currently limited to 20% of its allocation in private equity, credit, hedge funds and infrastructure.

Temasek and HSBC Launch Sustainable Infrastructure Financing Company

Pentagreen Capital will be led by Marat Zapparov.

Adams Steps Down from CIO Role at Meyer Memorial Trust

Sohel Hussain steps in on interim basis to lead $1 billion endowment.

Veteran Managing Director Leaves University of Southern California Investment Office

Edgar Smith’s future plans are not known.

Korea's NPS Sees 8% Investment Loss in First Half of 2022

Alternatives partly offset losses in equities, delivering a positive return of 7.3%.

CalSTRS Passes Its Private Equity Allocation Target

System, though, remains active in the asset class, deploying $5.1B in the first half of ’22.

Wisconsin State Investment Board Brings Aboard New Head of Public Equities

Susan Schmidt joins from Avia Investors.

CalSTRS Takes Initial Step Toward Achieving Net Zero

Pension fund gets OK to shift 20% of public equities to low-carbon index and to adopt a net zero investment decision process.

CPP Investments’ Subsidiary Cordelio Power Signs North American Wind Project Partnership with Tenaska

Partnership targets MISO, PJM, Western interconnections as well as 1 GW portfolio.

Arizona State Retirement System Remains Big Believer in Private Credit

Credit would account for nearly a quarter of the system’s portfolio under new asset allocation plan.

Employees’ Retirement System of the State of Hawaii Blows Away Peers and Benchmark

System is now searching for a CIO to replace Elizabeth Burton, who left at the end of June.

Robert Wood Johnson Foundation Seeking New CIO

Brian S. O’Neil has held the role since 2002.

University of Chicago Selects New Head of Real Assets

Kate Carder has been promoted to replace Christopher Longee, who recently retired.

Cedars-Sinai Hires First Chief Investment Officer

Longtime Caltech Senior Managing Director Pasy Wang tapped for role.

The British Pound Faces a Possible ‘Collapse,’ Analysts Say

The pound has been steadily weakening as inflation surges, recession fears build, and industrial pay disputes worsen.

CalSTRS Seeking Individuals to Oversee Private & Public Market Activities

System posts listings for two new roles; individuals would report to Deputy CIO Scott Chan.

Wellcome Trust Not Seeking Replacement for Retiring Investment CEO

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.

Eskom’s Pension Fund Appoints New CIO as South Africa Allows Bigger Offshore Allocations

Sonja Saunderson’s appointment comes soon after South African regulators amended rules to allow retirement funds to significantly increase their offshore allocations.

Texas ERS Approves Revised Equity Target Allocations

Retirement system’s new allocation expected to address higher liquidity needs.

Qatar Investment Authority & Commonfund Capital Help Raise Company’s Valuation

‘Execution management’ firm Celonis now valued at $13B after latest round.

Illinois Municipal Retirement Fund Continues Push to Invest in Minority-Owned Firms

Pension fund puts more than $100 million into four such firms.

New Mexico State Investment Council Private Equity Head Retiring

David Lee will be replaced by colleague Chris Cassidy at end of September.

Minnesota State Board of Investment Taps Local CIO to Replace Mansco Perry III

Jill Schurtz has led St. Paul Teachers’ Retirement Fund Association.

Abu Dhabi Investment Authority Buys Stake in India’s Aditya Birla Health Insurance

The capital injection from ADIA will be used to drive the insurer’s growth in India.

Exclusive: How Australia’s NGS Super Plans to Achieve a Carbon-Neutral Portfolio in Just Eight Years

CIO Ben Squires tells Markets Group the move is aimed at reducing risk as the clean energy transition gains momentum.

State of Wisconsin Investment Board Poised to Be First U.S. Pension Plan to Issue Debt

State’s AG says prior statue gives it the ability to do so; would use it as an another means to implement leverage.

Temasek Portfolio Company Goes Public Via a SPAC

Akili will use proceeds for its treatment for ADHD.

LPs’ Interest in PE & VC Down, Hedge Funds Up

Respondents see VC as most overvalued and are more wary of emerging markets.

DeSantis: Florida Retirement System Will Disregard ESG and Encourage Other States to Follow

Florida hopes to join forces with other states ‘to be a counterweight to ESG.’

Marsh McLennan’s Mercer Super Agrees to Absorb Lutheran Super

Mercer Super also recently announced a merger with Westpac’s BT Super.

Teacher Retirement System of Texas ESG Head Departs

Lauren Gellhaus took over role in 2020; next move not disclosed.

Korea’s Sovereign Wealth Fund Appoints Hoon Lee as CIO

KIC also announced the appointment of Hoseok Jung as chief risk officer.

Municipal Employees’ Annuity and Benefit Fund of Chicago Dives into Private Debt

MEABF selects three managers as it begins shaping its asset allocation strategy.

Florida State Board of Administration Will Seek to Increase Alternatives Cap in Fall

SBA currently restricted from making new PE, VC, credit, hedge fund and infrastructure commitments.

Montana Board of Investments’ Director of Private Equity Departs

Michael Nguyen had been with MBOI for five years.

AustralianSuper is ‘Too Big’ for Australia, Eyes Rapid Expansion in the U.S. and Elsewhere

Canadian, U.S. and European funds have been giving the fund advice as it aims to become a large global player.

Virginia Retirement System Commits More than $3B to 18 Managers; Terminates 2 Others

Private equity receives nearly half of the commitments.

Kentucky Public Pensions Authority’s New CIO Receives Sizable Challenge and Opportunity

Steve Willer tasked with bringing 10 funds into compliance with their asset allocation targets.  

MassPRIM Looks to Up Private Equity Allocation Range

Plan board also commits more than $1.5 billion to fund and co-investment opportunities.

North Dakota Trust Lands Searching for a CIO

Spot opened up after Michael Shackelford became CIO of Public Employees Retirement Association of New Mexico.

Ohio Public Employees Retirement System Eyes Private Credit

Ohio Public Employees Retirement System, OPERS, Paul Greff, NEPC, Private Credit.

Roger Sayler Poised to Retire as CIO of Church Pension Group

Fund has grown by 60% during his eight years at the helm.

Economists Warn of U-Turn in China’s Recovery

ANZ says broad policy changes are required to avoid another economic downturn in the third quarter.

CalPERS, CalSTRS and UC Investments Among Backers of Arsenal Capital’s New Funds

Private equity firm exceeds target goal; will invest in healthcare and technology.

Ontario Teachers’ Head of TMT, Financial Services and Healthcare Joins PE Firm

Bogdan “Bo” Cenanovic now a managing director with PSG.v

Exclusive: What the Inflation Reduction Act Means for Investors, Energy and the Climate

The act is a ‘big step forward’ and provides much-needed policy certainty for institutional investors, allocators and scientists tell Markets Group.

CPP Investments Deploys More than $5B – Despite Tough First Quarter

Canada’s largest pension plan was active in both backing funds and in co-investments.

BlackRock Says Credit Now More Attractive Than Equities

The asset manager says it will only turn positive on equities again when central banks turn more dovish. 

Temasek and Votorantim Launch $700M Fund to Invest in Brazil

The investment groups have formed a new vehicle called 23S Capital.

Maine Public Employee Retirement System Commits to Two Funds

Pension plan is in midst of implementing recent asset allocation changes.

Patterson Leaves Wilshire to Join UPMC

Healthcare provider and insurer is largest nongovernmental employer in Pennsylvania.

With Hundreds of Billions to Spend, Publicly Traded Investment Firms Appear Well Positioned for Investing Opportunities

Blackstone, KKR, TPG, Apollo, Ares, Brookfield, EQT and Carlyle have more than $700 billion of dry powder.

San Diego City Employees’ Retirement Selects Former Board Member as CIO

Carina Coleman leaving Sempra Energy; fills spot vacated by retiring Liza Crisafi.

Geeta Kapadia is the New CIO of Fordham University

She will manage the $1B endowment August 22 after leaving Yale New Haven

Next LAFPP GM Will Select CIO

Ray Ciranna delays retirement, but successor will pick replacement for Ray Joseph.

Pennsylvania Public School Employees’ Retirement Begins Search for CIO

Move comes days after DOJ closes investigation; Robert Devine has served as interim CIO for past 8 months.

Should Private Markets Still Be Considered Totally Illiquid?

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

Colorado PERA’s McGarrity Reflects on Journey to Become CIO, and Facing the Spotlight and the Pandemic

A talented pianist as a teen, she now advocates taking risks and thinking long-term.

Singapore’s Sovereign Wealth Fund Invests in Green Ammonia Firm Eneus Energy

Green ammonia is a zero-carbon fuel and acts as a storage and transport medium for green hydrogen. 

NGS Super Ditches Oil and Gas Companies as It Targets Carbon Neutrality by 2030

The fund has sold its stakes in oil and gas groups Woodside and Santos, among others.

Australia’s Super Funds Invest Further in Affordable Housing as ART Forms Partnership

Up to 1,200 new homes will be built under Australian Retirement Trust’s partnership with QIC.

AustralianSuper Sees Energy Transition Boosting Returns in Some Asset Classes

The shift to clean energy means ‘one of the biggest investment booms of all time – and the spending is not optional.’

Malaysia’s KWAP Aims to Grow More than 25% by 2025

The fund has launched a three-year strategy aimed at digitization, upskilling, and better service levels.

Part 1: What 'Deglobalization' Means for Institutional Investors

Diversification will become more important, particularly as opportunities open in emerging markets, investors say.

NYS Common Makes $4B in Commitments in June

Empire State retirement system remains active in PE, real estate.

MMBB Financial Services’ CIO Departs to Teach

Noradeen Farlekas is now an assistant professor at Fairfield University.

Cunningham Leaves Cornell University for Outsourced CIO Firm

She spent nearly seven years at the Ivy League school’s endowment.

State of Rhode Island’s Investment Team Sees Departure, Promotions

Jonathan Popielarski leaving role as director of private assets; Justin Maistrow becomes deputy CIO.

LPs’ Interest in Distress & Private Credit Rising

Survey says they are showing less interest in growth equity, new managers and Asia.

New York State Teachers Tweaks Asset Allocation Targets

System told to increase private equity, decrease international equity.

MassPRIM Active in Backing Emerging-Diverse Managers in ‘22

Plan has allocated more than 25% of $1B program; also seeks to diversify international equity portfolio.

San Diego City Employees’ Retirement Systems Names Interim CIO

Jamie Hamrick tapped to fill spot vacated by Liza Crisafi’s retirement.

More than 25% of State Public Pension Plans Will Change CIOs in ’22

Kentucky Public Pensions Authority is the latest, tapping Steve Willer to replace Steven Herbert.

LACERS Looks to Move Quicker on ‘Time-Sensitive’ Investments

Proposal would have allowed staff to allocate some capital without board approval; board members ask for oversight.

Investors Pulled Funds from Asia at Record Pace in First Half as U.S. Growth Concerns Mounted

Outflows in the first half of 2022 reached a record $71.9 billion, with withdrawals from equity markets leading the way.

Exclusive: Despite Progress, Women Still Overlooked by the Retirement Industry, Says Sangeeta Venkatesan

Women tend to live longer, meaning they require additional retirement savings.

New Jersey Division of Investment’s Head of Private Equity & Private Credit Departs

Jared Speicher set to head North American buyout investing for MetLife.

Former UN Joint Staff Pension Fund CIO Joins PSP Investments

Bril will serve as head of responsible investment; joins from Arabesque Asset Management.

CalSTRS and CalPERS Look to Significantly Increase Co-Investing; Other Public Pension Funds See Potential in Strategy

Potential to reduce fees paid to PE managers and generate strong returns spurs institutional investors to find ways to collaborate with firm managers.

Breaking News: Rhode Island Picks Retired CalPERS’ Executive as New CIO

Baggesen replaces Andrew Junkin, who took CIO role at Virginia Retirement System.

Pennsylvania State Employees’ Retirement System Gives OK to Sentinel Capital Funds

SERS board had postponed committing to the funds in June over diversity concerns.

Employees’ Retirement System of the State of Hawaii Taps Interim CIO

Hodel named to fill position following departure of Elizabeth Burton; search ongoing.Hodel named to fill position following departure of Elizabeth Burton; search ongoing.

New York State Insurance Fund Seeks Leader for New Alts Group

$20 billion fund is expected to focus on private equity, real estate, and private credit, according to job listing.

Q&A: Marcus Frampton Talks Oil, Energy and APFC

Alaska Permanent Fund Corp. CIO discusses challenges of managing $79.5 billion AUM SWF.

Cando Rail & Terminals Acquisition Expands AIMCo Exposure to Canada Rail Infrastructure

Cando Rails operates the Central Manitoba Railway in Winnipeg and owns switching operations in Wisconsin, Michigan and Arkansas.

Real Estate, Real Assets & PE Help Oregon Public Employees’ Have Strong 2021-22

System benefitted from being under-allocated to stocks.

Crypto Only in Second Inning, Says Cambridge Associates’ Digital Assets Head

Marenda likens industry to what hedge fund industry was like in its infancy; calls blockchain technology potentially revolutionary.

The Evolution of Philanthropy in Australia: Inside One of the World’s Most Generous Nations

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.

PSP Picks CPPIB Executive as New President & CEO

Orida will replace Neil Cunningham, who is set to retire.

University of Michigan Commits to Three Existing Managers

School – a big backer of venture capital – sees year-to-date gains through May.

Pennsylvania SERS Restructures Fixed Income Portfolio

With exception of private equity, system is in sync with new asset allocation policy.

CalPERS’ Reports First Loss Since 2009

Strong returns from private markets cannot offset equity and fixed income losses.

Hostplus Ranked Best-Performing Australian Super Fund over Short and Long Term

The superannuation fund for employees in hospitality, tourism, recreation and sport attributes its outperformance to active management.

NYCRS Names New Chief Investment Officer

Meier is the one-time interim CIO of the State of Connecticut; fills spot vacant since end of ’21.

New Mexico PERA Names New CIO

Shackelford comes from North Dakota State Department of Trust Lands.

Teacher Retirement System of Texas Powers Up Energy Investing

System looks to double investing in sector in ’22, driven in part by success in backing natural gas entities.

Private Markets Firms See Teacher Retirement System of Texas as ‘Poaching Ground’

TRS has lost 21 people over past two years to outside firms.

Exclusive: Time for a Fundamental Reset on Return Expectations, says JBWere’s Sally Auld

While a U.S. recession would probably be shallow, returns across asset classes are likely to be muted moving forward.

Saudi Arabian SWF Seeks Higher Exposure to UK Auto, Aston Martin Equities

PIF to become second-largest shareholder in Aston Martin.

MainePERS Backs Infrastructure and Direct Lending Funds

System commits to two firms already in its portfolio.

LACERA Backs Venture Funds, Takes Action Against Manager

Pension plan also discloses that it took part in a co-investment with a PE manager.

TRSL Adds Three Funds & Global REIT Manager to Portfolio

Plan’s board approves Bernhard Capital Partners, Hark Capital and TPG funds.

China, U.S. Foreign Relations Take Center Stage at CalPERS Board Meeting

JPMAM’s Michael Cemblest, and BCA Research’s Matt Gertken discuss strategizing for geopolitical risk.

Private Equity Produced Negative Return in First Quarter

StepStone Group expects industry to also have poor results over at least the next two quarters.

Temasek Grows Unlisted Portfolio as ‘Mild’ Recession Looms

Unlisted assets now comprise 52% of Temasek’s portfolio – a substantial increase from 27% a decade ago.

Baltimore City Employees’ Retirement System Seeks to Staff Up Investment Team

ERS/EOS looks to fill two positions to support strong work of consultants and board.

British International Investment Appoints New Head of India

Manav Bansal will head BII’s operations in India – the institution’s biggest investment market.

OMERS PE to Acquire U.K. Utilities Contractor Network Plus

Canadian pension system increases Euro infrastructure exposure with contractor acquisition.

New Jersey’s New CIO Reflects on Career Path, Investment Plan

No stranger to dealing with financial crises, he is preparing the state pension fund for opportunities.

CalPERS Pulls Off Record Secondary PE Sale, Will Other LPs Follow?

Musicco says move enables pension plan to ‘capitalize on market opportunities.’

AustralianSuper Cuts Back on Equities as Portfolio Returns Turn Negative

The fund’s members have endured their first annual negative return since the global financial crisis. 

Police & Fire Retirement System of the City of Detroit Seeks Own CIO

Move comes months after death of CIO who oversaw PFRS and Detroit General Retirement System.

CalSTRS Lays Out Plan for Cutting Investment Costs

Pension plan sees private equity co-investing as key component but needs the right people to execute.

Swedish Battery Maker Northvolt Raises $1.1B for Expansion in Europe

Battery manufacturer secures commitments from 14 investors, including pensions, insurance companies.

Iowa Public Employees’ and Other State Funds Show Patience Needed to Alter Asset Allocation Plan

‘Ambitious’ plan involved changing private equity, private credit, real assets and fixed income mix.

CalSTRS Expects to Report Negative Results for 2021-22 Fiscal Year

System’s CIO believes most of its peers will also have negative results.

Fixed Income Is Back, PIMCO Says

The investment manager sees opportunities in quality bank paper, municipal bonds and agency mortgage-backed securities.

China Has Gone From ‘Uninvestable’ to Compelling, Allocators Say

However, ANZ expects China’s GDP growth to slow towards mean global growth rates of 2% to 3%.

Wall Street Veteran Ryan Bailey Onboard with Startup

He joined 2-year-old institutional specialist Investment Office Resources.

Manna Tree CEO Ellie Rubenstein Appointed to Alaska Permanent Fund’s Board

APFC has invested in a series of funds raised by firm her father co-chairs, the Carlyle Group.

University of Chicago’s Longtime Head of Real Assets Retires

Longee oversaw endowment’s real estate, energy and natural resource portfolio for 18 years.

CDPQ Portfolio Company Revives IPO

Clarios will try to push through tough public market.

Karen Mazza to Leave NYCERS

She resigned her position as deputy executive director July 1.

Virginia Retirement Commits to Energy, Infrastructure Funds

VRS earmarks $875 million towards credit fund, real assets 

State of Wisconsin Investment Board Told to Develop Plan to Handle More Assets Internally

Audit finds SWIB managed less assets in-house in 2021 than in 2017.

New Mexico SIC Commits $177M to PE, Industrial Funds

State Investment Council votes unanimously on fund commitments, drops Franklin Resources

Alaska Permanent Fund’s Head of Alternative Investments Leaves for NYC Job

Moseley joins Wafra Inc. to launch co-investment initiative.

TIFF Adds CommonSpirit Health’s Rieder and Harvard Management Co.’s Slocum to Board

Not-for-profit OCIO has nearly $8 billion in assets under management.

A Macro Conversation with Olivier Rousseau of FRR

 The executive director of Fonds de Réserve pour les Retraites discusses macroeconomics, megatrends, and ESG

Temasek Increases Allocations Towards Treasuries, Toast

Some investors, including Temasek and PIMCO, are seeing value in U.S. Treasuries.

ILPA CEO Steps Down

Search begins for new leader for PE-focused LP group; Choi to serve as interim head.

Long-time Kresge Foundation CIO Set to Retire

Manilla to be replaced by Deputy CIO Barker.

Colorado PERA Seeks to Apply Investment Team’s Acumen to DC Plan

System hopes to enable participants to choose from DB offerings, including private equity and real estate.

LACERA, CalSTRS and Alaska Perm Show What's Possible as Investment Offices Seek to Cut Fees

Plans see, project big savings from bringing investment functions in-house.

Cincinnati Financial CIO Set to Retire

Hollenbeck’s duties will be assumed by Steven A. Soloria.

Gulf Sovereign Funds Back Africa Sovereign Investors Forum

Cooperation agreement aims to spur investment networks in Africa, includes 12 SWFs.

Virginia Retirement System ’Slowing Down’ its Private Equity Investing

Above target, plan makes no new commitments in May, but does back private credit and real assets funds.

CalPERS and Other Investors Call for More Robust Carbon Pricing Policies

The 73 members of the Net-Zero Asset Owner Alliance have $10.6 trillion in assets under management among them.

Australian Regulator Says Super Funds Need Scale as They Face ‘Rough Seas Ahead’

Consolidation is already sweeping through the industry, with at least nine mergers either in progress or under serious consideration.

CalPERS, CalSTRS See Fossil Fuel, Russia Divestment Bills Die in Committee

Bills would have forced pension funds to sell off some $13B of assets.

State of Rhode Island Could Soon Have New CIO

Person tapped would replace Andrew Junkin and take over plan that is set with PE in 2022.

Australia’s Investor Watchdog Gets Tough on ‘Greenwashing’

ASIC has published a set of guidelines for superannuation funds.

Australia’s Sovereign Wealth Fund Loses CIO, Makes Changes to Investment Team

Future Fund says it is using Sue Brake’s departure as an opportunity to restructure its investment team.

Why This Alternative Investment Manager is Bullish on China’s Tech Sector

New York-based alternative asset manager Weiss Multi-Strategy Advisers thinks concerns about regulatory risks are overblown.

Head of Manulife Investment Management PE Fund Investment Program Retires

Budde had been with firm since 2005; also worked at ABRY Partners.

Connecticut Plans Weigh Increased Real Estate, Infrastructure Allocations

Long-term policy allocations could increase 10-year returns from 5.9% to 6.3%.

Penn State ‘Interviewing’ for Next Deputy CIO

Sonali Dalal is leaving PSU for the University of St. Thomas.

Poorly Funded Teachers’ Retirement System of the State of Illinois Reports Strong Quarter

System also commits over $5 billion of capital to managers.

Alternative Assets Veteran Garrison Retires from TCU

He spent 14 years at the endowment after leading private markets at Teacher Retirement System of Texas.

Fonds de solidarité FTQ and The Canada Life Assurance Company Among Investors in New Agri-food PE Fund

Power Sustainable two-thirds of the way toward closing the North American-focused fund.

Special Pride Month Feature: Lisa Middleton - Holding the Torch for LGBT Employees

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.

Fed Hikes Interest Rates 0.75%, Expects More Hikes Through 2022

Increase is reportedly the largest single rate hike in a single meeting since 1994.

Institutional Investors Braced for Drop in PE & VC Valuations

Growth and late-stage VC expected to take worse hit – an event that may slow fundraising rush.

Kansas Public Employees Retirement System CIO Miller Retiring

State begins nationwide search for a replacement; Conroy named interim CIO.

Consolidation Continues in Australia’s Retirement Industry with HESTA-Mercy Super Merger

Merger would create fund with $49B under management.

Swedish Pension Fund AP3 Appoints New CEO

Staffan Hansén will join the fund on or before December 1. 

So, You Want to Be a CIO….?

CalPERS’ Musicco & UTIMCO’s Hall start new roles in downturn.

Exclusive: Kirk Sims, Emerging Manager Program Director, Texas Teacher Retirement System (Texas TRS)

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.

Investment Officer Sonali Dalal Is leaving Penn State

She will take over building an investment business for the $900 million University of St. Thomas.

English and Wales Pension Funds Set to Invest More in Private Markets

Survey finds majority expect allocations to increase by between 5% and 10%.

Pennsylvania State Employees’ Retirement System Board Postpones Backing Funds over Diversity Concerns

SERS had been set to commit $125 million to Sentinel Capital Partners.

LACERS’ June Reflects on Career, Investing & Need for Flexibility

Veteran CIO describes balance needed to work at a public pension plan. 

Norges Bank Investment Management Taps 2 Insiders to Lead Investing

Sovereign wealth fund moves quickly to replace former head Petter Johnsen.

CDPQ Moves Toward Ridding Portfolio of Oil

Pension plan sells Calgary producer to PE Firm.

Pennsylvania SERS Sees Gain from Rebalancing

Other institutions using different approaches or holding off, given drop in bonds.

Credit, Private Equity, Real Estate & Infrastructure Fuel PSP’s Growth in 2021-22

Canadian pension plan sees asset under management grow significantly.

Longtime Mississippi Public Employees’ Retirement System Employee Named CIO

Charles Nielsen takes charge of the $34.8 billion fund after Robert Clark’s departure.

TRSL Selects HarbourVest Partners for Co-Investment Mandate

Pension fund also approves commitments to three other funds.

UC Investments Hits ‘Audacious’ Diverse Manager Meeting Goal

University weighing to invest in 18 managers discovered during process.

Pennsylvania State Employees’ Retirement System Commits to Series of PE Funds

System backs Sentinel Capital Partners despite board concerns.

Chicago Teachers’ Pension Fund Names New CIO

Vinzons joins from Cook County Pension Fund.

Washington State Investment Board Moves to Revise Secondary Policy

New plan would streamline process and enable more capital to be deployed.

Mass PRIM Commits to Series of China Funds

Pension fund sees benefits of investing in Sequoia Capital’s new funds outweigh risks.

Buyout Dry Powder Rises

After a drop in 2021, capital raised but not committed increases.

Equities Are Losing Their Edge Over Bonds, Says BlackRock

However, the world’s largest asset manager still favors developed market equities and inflation-linked bonds on a long time horizon.

Africa’s Largest Fund Manager Suspends Operations Head as Executives Quit

The Public Investment Corporation says its operations head has been suspended pending the outcome of an independent inquiry.

Investment Advisor Fayez Sarofim Dies at 93

He oversaw Rice University’s Endowment for many years.

CPPIB Forms Growth Equity Unit, Reports Solid Results

Canadian pension plan combines two units to back companies poised for ‘transformational growth.’

Abu Dhabi Investment Authority Backs Fintech Company at Sizable Valuation

Acrisure will use the capital to continue acquisition momentum.

Stock Decline Puts Oregon Public Employees’ Retirement Fund at Equities Target

PERS Sees Value of Stocks Decline by Nearly $3 Billion Between March and April.

Advent Sees Sizable New Fund As ‘Appropriate’

Private equity firm will use $25 billion fund to invest in an array of sectors and geographies.

Deglobalization, Energy and Food Security – The Top Themes from Davos

The IMF does not expect a global recession to materialize, although the risks are increasing.

Dividend Stocks Shine Amid Market Sell-off and Surge in Inflation

Janus Henderson: BHP is set to be the world’s largest dividend payer for the second year in a row.

Australia’s Super Funds Benefit from Fiscal Stimulus Measures

Asset holdings have been boosted by investment gains and above-average client contributions. 

Is Now the Time to Invest in Crypto? Andreessen Horowitz Says Yes

Venture firm sees Web3 entering ‘golden era.’

CDPQ’s PE Arm Raises Activity Level

Canadian pension fund poised to invest in healthcare, vegetable deals.

Biggest Financial Gains, Losses from Climate Transition Will Be in Asia-Pacific, Says Deloitte

Climate change could cost the global economy $178 trillion over the next 50 years if left unchecked.

Rhode Island Fund Cleared to Invest in Private Equity and Private Credit

State investment commission also approves new fund commitments as CIO prepares to leave.

Virginia Retirement System Names New CIO

Junkin will leave Rhode Island and replace Schmitz.

CalPERS’ Weighing Changes to Comp Program

Pension fund urged to expand peer group and tie compensation to performance.

Analysis: FX Volatility Brings Potential Windfalls, Challenges for Investors

While the strengthening of the dollar has translated to positive returns for some investors, the longevity of the currency’s rally is uncertain. 

Boards Back UniSuper and ACS Merger

UniSuper is looking to broaden its reach, while ACS says its members will benefit from greater scale if the merger goes ahead.

Federated Hermes Receives $1B PE Mandate from BT Pension Scheme

It’s the third mandate since 2015.

MetLife Investment Management Raises New Private Equity Fund

 Private equity fund of funds is the first for MIM.

LACERA On Push to Fill Out Investment Division

A quarter of the division’s positions are open, but aggressive hiring push is on.

Hawaii Employees' Retirement System's CIO 'Sad' To Depart

Elizabeth Burton’s future plans are not known.

Khan Selected to Lead N.J. Division of Investment

He has been serving as acting director and CIO for nearly a year.

Institutions Grappling with Overallocation to Private Equity

As the denominator effect hits more institutions than usual, it may crimp investors and make it more difficult for GPs to raise funds.

NYSTRS Goes Shopping

After netting 9.6%, Teachers' fund buys more shopping plazas.

J.P. Morgan Sustainable Growth Equity Makes First Investment

Its first investment is all about monitoring carbon.

BlackRock Progressing On $1B Fund Focused on People of Color

Fund will make direct investments across PE, private credit, infrastructure and real estate.

Allocators Showing Greater Interest in Digital Assets

Survey shows ESG and diversity and inclusion on the investment team given less importance.

TRSL Approves New Asset Allocation

The pension fund is seeking to select a firm by early June.

Former NYC Retirement Systems CIO Joins PE Firm

Doñé to oversee Platinum's strategic planning and investor capital development.

Ray Joseph Out as LAFPP CIO

The $30 billion Los Angeles Fire and Police Pensions is looking for his replacement.

Yes, that Really Was Ash Williams at Milken

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.

MassPRIM’s Russian Assets Have Fallen Significantly

State's Russian investments at 'write-off' point.

Massachusetts PRIM Moves to Become More Agile VC Investor

Pension fund will look to find new managers.

NJ Division of Investment Appears Close to Getting New CIO

Board Approves List of Qualified Candidates

Gifts Enable Fisk University to Become VC Investor

Acrew's Gouw makes notable donation.

Sacramento County Employees’ Retirement System Moves Toward First Secondary Sale

Pension fund eyes sale of fund-of-funds stakes.

Employees’ Retirement System of Rhode Island Poised to Surge Past PE Target

Plan could allocate more than $300M to asset class in 2022.

San Jose Police & Fire Department Retirement Plan Ups Private Markets Target

New target will help plan move toward endowment model.

CIO and Treasurer of AEGIS Stepping Down

Rip Reeves is planning to become a teacher with LSU; a search for his predecessor is ongoing.  

CalSTRS Looking to Add Sustainable Portfolio Manager

Pension is also searching for new personnel in sustainable investment and stewardship, direct private equity, private equity, risk mitigation and real estate. 

Temasek-BlackRock Partnership Invests in Leather Alternatives as First Deal

Decarbonization Partners joins startup's $125M round.

SFERS Has Busy First Quarter with $500M in Commitments

Battery Ventures, New Mountain, Threshold and ArchiMed are among those backed.