Turkey’s Scramble to Avert Financial Woes Met with Some Relief
The lira rallies with moves to curb betting against it and the introduction of new loan restructuring programs.
Newsmakers
Bridgewater Ditches Facebook for Alibaba, Baidu, and Amazon
The world’s largest hedge fund pares stake in the social media juggernaut by 76% while refocusing its tech exposure.
NJ Panel Calls for Overhauling Public Workers’ Pensions
Put beginning teachers and government workers into a hybrid plan to trim the state’s funding deficit, group says.
Mercer Acquires Pavilion Financial, Summit Strategies Divisions
Mega-consultant looks to bulk up non-profit presence.
CalPERS CIO Orders Active Risk Review
Ted Eliopoulos wants to know whether the largest US pension system is being rewarded enough for its investment risk taking.
Kentucky Supreme Court Will Weigh Controversial Pension Bill
Gov. Matt Bevin appealed the Circuit Court’s June ruling against his pension reform law.
CalPERS Advisor: As Tech Startup Model Shifts, Direct Investment Model Makes Sense
Fewer IPOs mean operational efficiencies rather than leverage become more important for private equity portfolio company exits, Sonsini says.
Alcoa De-Risks $290 Million in Pension Obligations
Company also makes $100 million pension contribution.
Jenny Chan Becomes CIO of Philly Children’s Hospital
She will become the new chief investment officer for the organization.
CalPERS Cuts Most of Its Forestland Investment Program
Eighty percent of plan’s timber portfolio was sold at a large loss last month.
GAM Suspends Investment Director Tim Haywood
Firm says issues relate to risk management procedures, record keeping.
World Bank to Give Nigeria Additional $4.5 Billion Through 2021
The funding will support the nation’s power industry, health, and governance projects.
CalPERS Wants to Hire New Real Estate Managers
Experience wanted, but not too much experience. The idea is to identify promising managers with room to grow.
CIO’s Ninth Annual Industry Innovation Awards: Last Days to Nominate!
Nominations for innovative and talented asset owners and managers/servicers open until August 4.
Vicki Fuller to Serve on Williams’ Board
The newly retired New York pension CIO will lead the pipeline company’s audit, nominating, and governance committees.