Morgan Stanley Accused of Defrauding Investors
In the latest example of pension funds suing financial institutions, a Virgin Islands pension fund has sued Morgan Stanley over CDO sales.
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The ai5000 Top Five Institutional Investment Stories of 2009
The Revelation of the Full Extent of American Endowment Problems Entering 2009, the world knew that trouble was afoot at America’s largest endowments. Reports were emerging from Yale, Princeton, Stanford, Harvard, and others as early as September 2008 that
Alaskan Mercer Suit Headed to Trial
(December 23, 2009) – Pension fund consultancy Mercer is headed to trial in Alaska over charges that it underestimated liabilities and then failed to admit theerror to the state’s pension and health plans for public employees. Mercer’s motion to
Survey: American Pensions Shun Risk
(December 23, 2009) – A recent Hewitt survey shows that American pension plans increasingly are looking to step away from risk in many, if not all, of its forms. According to the consultancy’s Global Pension Risk Survey of 153
Private Equity Titan Terminates Fund
(December 23, 2009) – Europe’s Candover has agreed to close its nearly $5 billion buyout fund, a fall from grace for this once mighty private equity house. The firm confirmed late last week that its five year investment window
PIMCO’s Gross Reduces Government Debt Holdings, Moves to Cash
(December 23, 2009) – Bill Gross’s Pacific investment Management Co. (PIMCO), a weathervane for many institutional investors, reportedly has raised its cash holdings to the highest levels since September 2008. According to a report from Bloomberg, PIMCO’s Total Return Fund
With Goldman Lawsuit, Populism Reaches Pension Funds
Financial giant Goldman Sachs has been sued by a $5.8 billion union pension plan over its alleged use of TARP and FDIC-backed funds to pay executive bonuses.
Dubai, Again, Gets Bailout from Abu Dhabi
Not for the first time in 2009, Abu Dhabi—the federal seat of government for the United Arab Emirates—has been forced to step in and provide an injection of funds for a debt-ridden Dubai.
Australian Pension Report Shows Governance Changes on Horizon
The Cooper Review, releasing an interim report, suggests that greater trustee skill and levels of governance should be instituted in the island nation’s pension sector.
Survey: North American Investors View Private Equity More Favorably Than European, Asian Peers
According to the latest Global Private Equity Barometer from Coller Capital, 75% of Asian and European private equity investors were unsatisfied, while the same percentage of North Americans were satisfied.
Dubai World, under Duress, Plans To Sell Assets
Dubai World plans to sell assets for cash, but the government continues to maintain that it has no financial responsibility for the sovereign wealth arm that it created to fund the city’s growth.
Investigations Deepen at CalPERS
The SEC has asked the nation’s largest public pension fund whether two former officials had any contact with an alternative investment manager convicted of paying officials for access to funds.
UK Merger Market Hurt by DB Pensions
A CBI/Watson Wyatt study also shows that corporate profits are more often than not hurt by the pension costs associated with defined benefit systems.
With Conditions Improving, Pension Buyout Firm Paternoster Looks for Action
Having taken a deal hiatus, the British pension buyout firm looks to reenter a market apparently on the mend following near-silence in the first half of the year.
Institutional Investors Inch Toward Global Warming Opportunities
Despite recent controversy over e-mails and a conference that is likely to lead to little in hard results, there is growing evidence that institutional investors increasingly are investing with global warming in mind.