The pension fund will pay $2.4 billion for 25% of SSEN Transmission, continuing the plan’s allocation to infrastructure, which has increased 60% since 2017.

Still-high inflation and an expected recession call for slighting stocks and most other categories, the asset kingpin advises.

PGIM appoints Natalie Gill as vice president of DEI strategy and industry engagement.

Falling equity markets and rising interest rates are blamed for the portfolio’s $7.7 billion loss.

Japan’s GPIF remains the largest pension fund in the world for the 20th straight year.