Losing Musicco as CIO Raises Questions Over CalPERS’s Future Private Equity Strategy

18th September, 2023

The US$463 billion California Public Employees’ Retirement System (CalPERS) has lost another CIO with Nicole Musicco quitting her position after less than two years for family reasons.

NBIM Research Paper Cautiously Positive Towards Private Equity Funds

15th September, 2023

A research report published this week by Norway’s sovereign wealth fund manager Norges Bank Investment Management (NBIM) found that long-term returns from venture capital and growth equity funds have underperformed public equities by 1-2% on average over the past 48 years, but its conclusions give some support for the conservatively allocated US$1.4 trillion Government Pension Fund Global (GPFG) to shift into private markets.

NZ Super Makes Bold Move with Euroclear Investment

4th September, 2023

 New Zealand’s state-owned investor, NZ Super, has taken a bold step with a direct investment worth almost US$300 million in financial services provider Euroclear.

ADQ and IHC: The Blurred Boundaries of Abu Dhabi State Capitalism

3rd August, 2023

Abu Dhabi sovereign fund ADQ and IHC Capital, which is linked to the ruling family, are planning to consolidate property and events assets into Q Holding to create a regional leader in the real estate and hospitality sector.

PIF Aims for Saudi Agricultural Leap

24th July, 2023

Global warming and related water scarcity are raising fears of rising food scarcity among populations already living on the edge, yet the arid desert kingdom of Saudi Arabia is plotting a path towards greater food self-sufficiency and cash crop production led by its burgeoning sovereign wealth fund.

Korean State-Owned Investors Lifted by Public Markets, But Plan for More Private Equity

14th July, 2023

With combined assets under management of US$1.45 trillion, South Korea’s state-owned investors – comprised of one sovereign wealth fund and six public pension funds – are major players in global markets, and their evolving strategies are set to have a significant impact on investment flows, with alternative asset classes set to be the main winners.

Korea's SWF Will Invest Billions of Dollars on Global Private Markets by 2025

21st June, 2023

The President of Korea’s US$169.3 billion sovereign wealth fund, the Korea Investment Corporation (KIC), reiterated the fund’s target allocation to alternative investments at 25% of AUM by 2025 in an interview with Bloomberg, indicating it is set to release billions of dollars of capital into global private markets.

For CDPQ, Home is Where Its Heart Is

7th June, 2023

Few public pension funds have the kind of commitment CDPQ has to their home economies, with most focused solely on optimal returns.

PIF Reverses Public Equity Losses in Q1, But Lucid Remains a Drag

16th May, 2023

Saudi Arabia’s US$730 billion sovereign wealth fund, the Public Investment Fund (PIF), threw its weight behind green energy, gaming and the internet in the first quarter, while slashing exposure to payments processor Visa and Chinese e-commerce company Pinduoduo.

Future Fund Looks to Commodities as Stagflation Hedge

27th April, 2023

Australia’s A$202.8 billion (US$135.8 billion) Future Fund notched up a 3.4% return in the first quarter, as it displayed resilience against stock market volatility and inflation, delivering a 1.1% return for the full financial year ending in March.

Alaska's SWF Freezes In-State Investments and Grows Risk-Averse on Private Equity

19th April, 2023

One of the US’s biggest sovereign wealth funds is set to end investments in its home state, citing the potential for conflicts of interest and lack of sufficient opportunities.

ADIA Presses Ahead with Multi-Billion Take-Private Strategy

14th April, 2023

Sovereign wealth funds have been prominent buyers in listed companies going private in recent months, and yet another big deal is on the horizon: a proposed GBP4.6 billion (US$5.7 billion) takeover of Dechra Pharmaceuticals by the Abu Dhabi Investment Authority (ADIA) and Swedish private equity firm EQT.

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