The National Pension Service, the fourth-largest pension in the world, has partnered with US private equity firm Kohlberg Kravis Roberts & Co. to acquire oil giant Chevron’s 23.4% stake in Colonial Oil Pipeline Company.
Amid criticism of CalPERS' poor returns and conflict-of-interest questions, the biggest US public pension said it is severing its 21-year relationship with Pacific Corporate Group as it revamps its private-equity program.
In response to a call by Britain's former City minister Lord Myners for major shareholders to look to the longer term, a leading fund manager condemned Twitter for contributing to a society keen on instant results without regard to what will happen years into the future.
In the biggest deal ever involving a benefits consultant, the $4.9 billion acquisition will likely strengthen Aon's drive into human resources consulting.
The deal between Onex, the Canadian private equity firm, and the Canada Pension Plan is valued at $5 billion, making it the largest private-equity deal this year.
The $300 billion sovereign wealth fund's supervisory board Chairman Jin Liqun said at an address at the Super Return Asia 2010 conference that the CIC will not invest in areas with repuational risk -- such as defense, casino and alcohol-related sectors -- and sees more room to collaborate with global institutions.
South Korea's National Pension Service has committed to invest $300 million in troubled North American real estate through Townsend Group, the latest sign that foreign investors are delving into US property in hopes of steady return and rebounding markets.
A $452 million bid for the city’s parking system, if approved by City Council, would allow Pittsburgh’s 25% funded pension to avoid the fate of being taken over by the state.
The latest quarterly “flow of funds” report issued by the central bank reveals US corporate defined benefit and defined contribution plans had combined assets of $5.32 trillion as of June 30, a dip from three months prior.
New York-based Columbia's endowment rose 17% in the past year, outperforming major stock-market indexes as well as some other elite universities in the most recent fiscal year.
California
Governor Arnold Schwarzenegger has dropped a proposal for the state's
pension fund to lend the state government $2 billion to help shrink its
budget gap.
The investment in the fund, which will target Southeast Asian infrastructure and new energy projects, is yet another sign of China's heightened financial importance in the region.
