Florida SBA Takes Lexington Stake for $41 Million
The deal marks SBA board's first ownership stake in a private
equity manager or any investment management company.
Newsmakers
MassPRIM’s CIO Says Pay-to-Play Regulation Is Not a Focus for Discussion
While MassPRIM told ai5000 that they are not currently taking action following the unanimous vote late last month by the SEC to curtail so-called “pay-to-play” schemes, a variety of public pension funds are working to adopt policies limiting the use of placement agents.
Despite BP's Hopes for SWF Backing, Abu Dhabi Is Hesitant
BP Chief Executive Tony Hayward’s tour of the Gulf last week increased speculation that the company is looking for investment from sovereign wealth funds (SWFs) and other state entities in the region, yet Abu Dhabi is reluctant to invest in the company, a report said.
Puerto Rico's Pension Funding Ratio Falls Below 10%
Hector Mayol, the system’s Administrator, notes that required benefit payments are eating into investable capital, but that the Commonwealth’s Governor is now setting his sights on the pension problem.
Canada's Pension Plan to Buy Laricina Stake for $237 Million
CPPIB has extended into Canada's oil and gas sector by agreeing to make its first direct investment in oilsands though a deal with Laricina.
Temasek's Assets to Reach Its Previous High on Asia Success
The Singapore wealth fund is set to post a record jump after its
assets plunged $40 billion a year ago during the midst of the financial
crisis.
BP Hopes for SWF Backing
The oil giant is approaching sovereign wealth funds in the Middle East and Asia to defend itself against takeover bids.
Whisky to Plug Pension Deficit
Diageo has found a creative way to plug its growing UK pension hole:
Fill it with £430 million ($642 million) worth of Scotch from its
distilleries in Scotland.
CalPERS and Other Bondholders Say Lehman Bankruptcy Plan Fuels Conflict
A group of 12 creditors says Lehman Brothers Holdings Inc.’s plan to pay claims fosters conflicts among creditors that may lead to lawsuits.
UK Report Urges Schemes to Invest Responsibly
Ten years after the UKSIF
introduced pensions disclosure regulation, the group is urging schemes
to increase their skills in sustainability governance.
G20 Leaders Pushed to Fight for Shareholder Rights
In letters to Canadian Prime Minister Stephen Harper and Chung
Un-Chan, prime minister of South Korea, the International
Corporate
Governance Network urged G20 leaders to recognize the intrinsic
role of institutional investors in reforming shareholder
rights.
Losses at Bahrain's SWF More Than Doubled Amid Global Slump
Bahraini state investment fund Mumtalakat said losses soared last
year as it restructured some of its holdings.
Texas Teachers Fund Reports Record Full-Year Return
The gain takes the fund's market value to $96.7 billion, erasing
most of the losses suffered during the financial crisis.
Managers at HF Conference in Monaco Grapple With Challenges Ahead
At the GAIM hedge fund
conference this week, managers focused on the problems that could hit
their firms rather than the past year's client inflows and 20% returns.
Two Money Management Firms End Use of Placement Agents With CalPERS
Following an
internal investigation by CalPERS, Ares Management and Relational
Investors have agreed to stop using so-called placement agents and
reduce the fees they charge the fund by millions of dollars over the
next five years.