Here’s some news for the floaty chair:
- This won’t end well: “A large California pension manager is using complex derivatives to supercharge its bets” to fill its funding gap. Bad idea jeans.
- Revolving Door: The new executive director of the troubled $30 billion South Carolina Retirement System just quit. She was only two months in!
- Governance: Tanzania is forming a special government unit to monitor resource revenues. It will also audit the country’s new SWF.
- Temasek: “We are very interested in Africa, it is a new market for us”.
- Fee Machine: Why are SWFs fascinating? Because they can single handedly put the Wall St. fee machine in reverse. Big props to CIC on this.
- Diversification: Timor-Leste continues to diversify the nearly $17 billion it has in its SWF; 40% is now in equities.
- Geopolitics: Finland’s €34 billion pension mutual, Ilmarinen, is worried about the impact on Finnish companies from Russian sanctions.
- Infrastructure: Nigeria’s NSIA is ready to wire its first installment to begin construction of the new River Niger Bridge? Do it!
- Diaspora Wealth Fund: Rwanda’s unique Agaciro Development Fund has raised $43 million from the country’s diaspora since inception in 2012.
- Difficulties: The Malaysian SDF, Khazanah, will buy out minority shareholders of Malaysia Airlines.
- Real Estate: Norway’s SWF sent some of its investors down to the famed Savile Row to buy... it.
- Markets: CalPERS appears set to call “top” to the markets; it’s repositioning for downturn.
- Deals: The CIC’s close relationship with Ireland’s SWF seems to be bearing fruit; It’s set to make a massive aviation investment there.
- AUM: The Alaska Permanent Fund now has more than 50 billion dollars.
Have a great weekend!
