Former Goldman Sachs MD Gets 10 Years for Embezzling From Malaysia’s 1MDB
Roger Ng allegedly laundered ill-gotten funds through financing ‘The Wolf of Wall Street.’
Newsmakers
Facebook Parent Company, CEO Zuckerberg Named in Human Trafficking, Child Exploitation Complaint
Investors from Rhode Island, Ohio and New Zealand filed suit against Meta Platforms in the Delaware Court of Chancery.
Despite Backlash, ESG Hiring Remains Elevated
Asset owners, consultants and asset managers are all engaged in an increasingly competitive fight for ESG talent.
Sweden’s Largest Pension Loses More Than $1 Billion to U.S. Banking Crisis
Alecta says it held talks with Silicon Valley Bank in 2022 about liquidity concerns.
Former Aramco Alts Head Joins CalPERS as Private Markets DCIO
Daniel Booth will oversee the $442.6 billion pension fund’s private equity, real assets and private debt.
Council of Institutional Investors Names CalSTRS Manager as Board Chair
Aeisha Mastagni, who works on sustainable investing at the pension fund, has previously served as a CII director.
Investors’ Use of Climate and Greenhouse Gas Information Is Growing, SEC Chair Says
Gensler defended the SEC’s climate disclosure rules at a CII conference.
Politics Heat Up on Brainard Fed Replacement
Elizabeth Warren and other progressives push for a more dovish vice chair to offset Chair Jerome Powell.
US Single-Premium Buyout Sales Set Record in 2022
2022 was a banner year for risk transfers, setting records in total dollar volume, contracts signed and single-premium buyout deals as rates rose and funding statuses improved.
Bill Calls for Oregon to Divest From Fossil Fuels
State treasurer Tobias Read says the proposed legislation would lead to lower returns and higher employer contribution rates.
Court Refuses to Dismiss Central States Pension Lawsuit
District of Northern Illinois judge finds employer liable for withdrawing from pension obligations during collective bargaining agreement transition.
Indiana Amends ESG Bill to Exclude Private Markets
Changes mean legislation will cost state pension fund $5.5 million over 10 years instead of $6.7 billion.
Australia Seeks Public Consultation on Pension Legislation
Former government accused of raiding superannuation system ‘with devastating impacts’ on savings.
Sequoia Capital, Thoma Bravo, Paradigm Sued for Touting FTX
Investment firms allegedly made ‘deceptive and misleading statements’ to promote the failed crypto exchange.
CalPERS Equity Portfolio Edges Out S&P 500 Returns in Q4 2022
CalPERS’ equity portfolio returned 7.92% in the fourth quarter of 2022, eclipsing the S&P 500 performance by 84 basis points.