Secretive SWFs Meet in Sydney
More than 24 sovereign wealth funds will meet in Sydney this week
for a three-day closed conference.
Newsmakers
California Sues Two Former CalPERS Heads
The state is suing California pension fund officials Federico
Buenrostro Jr. and Alfred R. Villalobos for their role in an alleged
scheme to obtain business for investment firms, providing pension
officials with luxury trips and other gifts.
Dutch Pension Drops Goldman, Citing Falling Performance
Fund’s statement says Goldman
failed to meet expectations, yet does not refer to the civil fraud
charges filed April 16 against the U.S. bank.
Ontario Teachers’ Looks for New PE Chief
Erol Uzumeri will leave Canada’s third-biggest retirement-fund
manager to start his own money management firm.
Goldman CEO Blankfein Calls Fraud Case 'Totally Political'
Lloyd Blankfein counters the SEC's fraud allegations, signaling that
Goldman will aggressively fight the charges in court.
Apollo Agrees to Cut $125 Million in Fees It Charges CalPERS
New York's Apollo Global Management has agreed to trim the fees it
charges California fund giant CalPERS over the next five years.
CalPERS ‘Disturbed’ by Goldman Fraud Case
The country’s largest government pension fund, which owns 1.8 million
shares in the embattled investment bank, says the fund’s corporate
governance staff will examine Goldman practices and influence the makeup
of Goldman's board if needed.
Hit to Goldman’s Reputation Will Be Harder to Recoup
Analysts say the U.S. Securities and Exchange
Commission’s civil fraud charges could force Goldman to pay hundreds of
millions in fines and restitution. The blow to the firm’s reputation
may be harder to salvage.
Goldman Sachs Accused by SEC of Civil Fraud on Mortgage-Backed CDOs
The government has accused Goldman Sachs of failing to disclose conflicts of interest in mortgage investments it sold as the housing market was waning.
Abu Dhabi Fund Names New Chief
Sheikh Hamed bin Zayed al Nahyan will become the new boss of Abu
Dhabi's SWF, replacing his late brother who died in a glider crash in a
lake in Morocco.
IFC, SWFs Partner to Invest in Companies in Africa
The International
Finance Corp said it would team up with SWFs and pensions to form an
$800 million fund that will invest in equities in Africa, Latin America
and the Caribbean.
Goldman Sachs Tries to Snag Endowment Chiefs
The Wall Street titan is looking to expand its portfolio solutions team of 50 employees.
Aaron Meder to Head US Pension Solutions for Legal & General
Meder, who previously worked
at UBS, will expand a team responsible for the company's construction
and management of
liability driven investments
(LDI) for US pension clients.
Stanford Endowment on the Lookout for New CIO
The third largest endowment among US colleges is searching for a CIO
after leaving the post vacant for more than two years.
San Diego County Faces Concerns Over Conflict of Interest
The $6.9 billion association has already approved the idea of outsourcing its investment staff, but will scope out other alternatives and look at the cost difference between the in-house and outsourced models.