Welcome to the weekend. Here’s some news for your reading enjoyment:
- New SWFs: Kenya is apparently fast tracking the establishment of its “National Sovereign Wealth Fund.”
- Sustainability: Cal Regents has unveiled a seven-part plan for sustainability, including a $1 billion(!) allocation to invest in sustainable industries. Wow. That, my friends, is the way you do it... that’s how you debate.
- Selfie: Greed and short-termism are undermining capitalism. But there’s a new hope...
- Office Work: The Canada Pension Plan Investment Board plans to open an India office.
- PR: GhanaWeb says Ghana’s SWF was hailed at an international conference by... a Ghanian minister. Great stuff. Kudos on this.
- It just got real: The Swedish Buffer fund reorganization is now having real world impacts: Gustaf Hagerud has officially left Ap3.
- The Fee Machine I: The State of Wisconsin Investment Board is working to “...address the issues of private equity fees that may be hidden from investors and the ‘invisible’ shifting of expenses from advisors to investors.” May the force be with you, SWIB!
- The Fee Machine II: Ironic that Canadians are going crazy about the investment fees at a pension fund that has perhaps fought hardest to reduce ‘em.
- Peer-investing I: Three Giants — Singpore’s GIC, PSP Investments and Ontario Teachers’ Pension Plan — team up to invest $700 million in XPO Logistics.
- Peer-investing II: Norway’s SWF has bought a $390 million San Francisco office building alongside TIAA-CREF.
- Peer investing III: Here’s a nice review of the co-investments that ADIA, NZSF and AIMCo did as part of the Innovation Alliance.
- Humans resourced: Malaysia’s $30 billion KWAP, the country’s second-largest retirement fund, appointed Nik Amlizan as new CIO. She’ll take over immediately.
- Risk on! Sweden’s AP1 is upping its risk budget; not because they want to but because they have to in order to meet future obligations. Sigh.
- Collaboration: Oman’s SWF has partnered with Shell to invest in gas field technology company.
- Restructuring: Kazakhstan’s Samruk-Kazyna National Welfare Fund will formally kick off its “transformation” soon.
- Deals: Singapore’s Temasek has been very active this past year — $14 billion in deals — and plans to continue this pace in the year ahead.
Have a great weekend!
