Welcome to the weekend, everybody. Here’s the latest news for your reading enjoyment:
- Seeding: Texas Teachers is putting over a billion into emerging managers, which I think is a great idea.
- QOTD: “I have over 100 hotel room keys and they remind me of the different places I have been . . .” #SWFLIFE
- The End is Nigh I: With oil prices low, people everywhere are freaking out that sovereign funds might be asked to sell some of their assets to fill gaps in sponsors’ budgets. Chill out. Consider what the financial markets would be doing if governments had no sovereign funds they could call on to fill the gap. What if all these countries were slashing spending and showing up at the IMF’s door? What then?
- The End is Nigh II: This is what long-term investors should do in a crisis . . . Not much.
- High on Tech: GIC is in Square. Qatar is in Uber. AIMCo is in Bloom. Khazanah is in Palantir. Now it’s Kuwait’s turn to invest in in . . . Jawbone.
- State Wealth: The people of Alaska have noted with some concern that when financial markets go down, so does the value of their SWF.
- Alpha Hunting I: Malaysia’s Khazanah has opened a new London office to go along with its other offices in Beijing, Mumbai, San Francisco and Istanbul. That’s an interesting mix of locations.
- Alpha Hunting II: Rather than setting up yet another overseas office in Europe, Temasek opts instead for a panel of super-connectors to bring EU deal flow.
- Exasperation: After explaining to the New York Times what it’s been like dealing with the rampant gender inequality in private equity for her entire career, WSIB’s CEO Theresa Whitmarsh . . . Stares out a window. Sighs.
Selfie: Future alignment trumps past performance.
Have a great weekend!
