Direct Lending Default Rate Expected to Rise to 3% in 2025
KBRA anticipates an increase spurred by consumer sector defaults.
News
BPCE, Generali to Combine Asset Management Operations, Form $1.98T European Investment Giant
The combined firm would become the world’s largest insurance manager, with more than half of managed assets coming from pension and insurance clients.
Karyn Vincent, Senior Head of Global Industry Standards at the CFA Institute, to Step Down
Vincent, who is also the GIPS standards executive director at the institute, will leave that post at the end of January.
New York State Pension Commits Nearly $3B to Private Equity in November 2024
The New York State Common Retirement Fund earmarked $2 billion to a single Neuberger Berman fund.
BMO Pays $41M to Settle SEC Charges of Failing to Supervise ‘Sliver Bond’ Sales
According to the regulator, firm employees used misleading metrics to sell mortgage-backed bonds.
London CIV Names Jenny Buck as CIO
The appointment of the former Tesco pension CIO will be effective in early March.
R.B. Pamplin Corp. to Restore $20.6M in Pension Assets, Unwind Illegal Real Estate Investments
The Department of Labor concluded that Pamplin had used assets from its pension plan to acquire the company’s own real estate, exceeding limits under ERISA.
CPP Investments Forms $789M Industrial Real Estate Joint Venture
The partnership with Bridge Industrial will ‘target the acquisition and/or development of modern industrial facilities in supply-constrained markets across the U.S.’
Treasury Nominee Bessent Touts Fiscal Discipline in Confirmation Hearing
The former Soros CIO and hedge fund manager discussed tax policy, sanctions and deregulation while answering questions from the Senate Finance Committee Thursday.
Apollo Global Management Bolsters Infrastructure Portfolio
The $733 billion asset manager has signed three infrastructure deals in the first two weeks of 2025, including its recent acquisition of Argo Infrastructure.
PBGC Approves $868.6M SFA Grant to Unite Here Retirement Fund
The White Plains, New York-based plan covers 91,744 participants in the hospitality industry.
CDPQ’s Ivanhoé Cambridge Sells 49% of News Corp. Building
The sale is the first major deal since the Québécois pension fund consolidated its real estate units.
Public Pension Funds Remain in ‘Fragile State,’ per Equable Report
For the 17th straight year, public pensions remain below 90% funded.
UCSD Foundation Repeats as Best-Performing University Endowment in Fiscal 2024
Smaller, equity-heavy funds outpaced larger endowments with higher private market allocations during a boom year for artificial intelligence and tech stocks, per NEPC.
Asset Manager IT Pros Report AI Use Slowed by Internal Resistance, Inadequate Infrastructure
Per a survey by Rackspace Technology, most asset managers plan to move digital data to a private cloud to increase security.