Welcome to the weekend. Here’s the latest news for your reading enjoyment:
- Collaboration: Two UK pensions are going to pool their capital in an attempt to be more competitive in domestic infrastructure auctions.
- Private Equity: CalPERS will dramatically cut its PE relationships; plans are to go from “effing ridiculous” (~390 GPs) to “still having way too many” (~120 GPs).
- The Fee Machine I: The SEC has found a lot of errors in the way PE firms charge fees. Next up on the SEC’s agenda ... hedge funds.
- The Fee Machine II: The White House is looking at broker practices, such as boosting commissions with excessive trading, that cost individual investors $8 billion to $17 billion a year.
- Lake Wobegon: This survey, which shows pensions are, on average, better than average, hurts my brain. All pensions are better than average because of... long-termism? Poor benchmarks?
- Alternative Inflows: South Korea’s $85 billion SWF will double its allocation to alternatives this year; by the end of 2015 the KIC will have $16 billion in alts.
- Indian Finance: With two big investments, Singapore’s SWFs are clearly bullish on Indian financial services: Temasek and GIC.
Have a great weekend!
