Here’s some reading material for the family BBQ this weekend.
- SDFs: Despite turmoil in Russia, the RDIF continues to attract institutional money into local deals.
- Get Milk: Singapore’s GIC is investing in Chinese dairies.
- Training: Like Teaching Hospitals, the London Business School is following the trend of launching Teaching Funds to train the next generation of investors. (Here’s hoping students aren’t actually using the models they learn in university...)
- Annual Reporting: ADIA’s 2013 Review is out, and it’s quite detailed. It’s interesting to see how transparent this secretive SWF has become. Kudos.
- Governance: China’s NSSF had a decent year. But “irregular management and unwise decisions” aren’t helping much. Ouch.
- Real Estate: Saudi’s Public Investment Fund is launching a $15 billion real estate project in Madinah; biggest in the country.
- Human Resources: The CIC has hired a new EVP; the new guy is a former banker at Agricultural Bank of China.
- Hedge Funds: "... if anything needs a thought experiment, it is fees.” True.
- In-Sourcing: A pension fund decided to go direct into private equity, and here’s what it learned: "... our performance is materially better.” Gross returns may be lower, but net returns are higher.
- Deals: Bumi and the China Investment Corporation are still trying to sort through their debt-to-equity conversation. A long saga.
- The Law: Sigh: “Former CEO of CalPERS will plead guilty to corruption charges.”
