Here’s some reading for your weekend:
- Alignment of Interests: Among the top 25 hedge fund managers, the average pay was $467 million last year, which is half of what it was last year. As you can see, when these hedge fund guys underperform the markets, they feel the pain — their compensation gets cut in half. Alignment!
- Cash Rules Everything Around Me: Australia’s Future Fund is gonna need a bigger mattress.
- Obi Wan Partners: Here’s a quote from the New York Times: “It estimated that more than half of private equity costs charged to United States pension funds were not being disclosed ... ” (OWP: “These are not the fees you’re looking for ... move along.”)
- Boom: Denmark’s main pension fund earned 6% last ... QUARTER. Tell me again why pensions can’t compete with private sector?
- Alphabet Soup: ADIA, CDPQ, CPPIB, and GIC are among the buyers of a 33% interest in Li Ka-shing’s U.K. mobile phone assets.
- If It Ain’t Broke: The New Zealand government is giving its highly successful Super Fund a governance refresh ... (To the NZ Government: Please don’t screw it up. Thanks. ~AM)
- SDFs: Ireland’s sovereign development fund is apparently ramping up its operations and getting ready to invest its billions in local assets that generate both commercial and developmental returns.
- For Real: AusSuper is on a $4 billion overseas property investment spree — most recent is 75 State Street in Boston.
- Collaboration I: Qatar and France have vowed to strengthen their defense ties, which, according to this article, apparently includes greater collaboration between their two sovereign funds.
- Collaboration II: Russia and China are working hard to figure out how to collaborate on investments in Russia and China.
Have a great weekend!
