L&G Secures £2.5B Buy-Out in International Risk-Transfer Deal
Global car parts manufacturer TRW Automotive has successfully de-risked its UK, US, and Canadian pensions in a wide-ranging project.
News
Irish Public Pension Fund Chief to Retire
Conor O’Kelly has been selected to lead Ireland’s National Treasury Management Agency, replacing John Corrigan.
Eurozone Pensions Count the Cost of Falling Rates
Actuarial rates have wiped 600 basis points off of funding ratios in Germany despite a strong year in performance terms.
Bond Managers ‘Averse’ to Holding Cash Despite Liquidity Fears
A credit ratings agency has warned bond funds to hold more cash, despite the negative effect this could have on returns.
SWF Apologizes to Citizens for Merrill Lynch Investment
Losing $720 million on the deal thus far, the head of the Korea Investment Corporation has promised to learn from the mistake.
Why Cautious Managers Have Short Careers
Highly loss-averse managers were likely to record worse risk-adjusted performance, often leading to termination, a study has found.
San Diego, Public Outsourcing Pioneer, to Recruit Internal CIO
The $10 billion fund’s board has voted to return to a model featuring an internal CIO.
CalPERS’ Bankruptcy Deals ‘Haven’t Solved Funding Problems’
Arrangements with San Bernardino, Stockton, and Vallejo will lead to more financial strain, ratings agency Moody’s argues.
Dan Loeb Triumphs Against Sotheby’s, Dow Chemical
Sotheby’s CEO has agreed to step down and Dow Chemical has added four directors to its board after yearlong battles with the activist investor.
New Hedge Fund, PE Heads at NYC Pension
The $160 billion system has promoted two staffers to lead its alternatives buckets.
Dutch Pension Boosts Infrastructure with Portfolio Acquisition
APG’s new infrastructure portfolio is the latest deal structured as a partnership with an asset manager.
Soros Hands Gross $500M Vote of Confidence
Janus’ new hire has landed his biggest mandate since joining—and doubled his strategy’s assets.
Mercer Buys Fund Manager to Access Private Markets
The consultant and fund manager wants greater access to alternatives.
U. California CIO Installs New Investment Team
Jagdeep Bachher has hired or promoted at least 14 staffers in the past few weeks, CIO has learned, and is actively recruiting for more.
Goldman on 2015: Predictions for the Year Ahead
Expect further divergence between developed economies and major (but risky) upside potential from emerging markets, the investment banking titan says.