CalPERS Board Votes to Approve Total Portfolio Approach
The California pension approved the proposed change to implement TPA—the first institutional allocator in the U.S. to do so—by July 2026.
Pensions
Corporate Pension Funding Surpluses Grow for Seventh Straight Month
Ratios continue to improve as markets continue to gain momentum.
RTX to Transfer $2.5B in Pension Obligations to Prudential
The pension risk transfer will result in a $300 million settlement charge in the fourth quarter.
DB Plans See Best Year-to-Date Q3 Performance Since 2019
DB plans saw a median return of 4.43% in the quarter, reaching 10.72% for the year so far, according to data from Confluence.
Half of Australia’s Superannuation Plan Assets Invested Offshore for First Time
New research from National Australia Bank found that artificial intelligence and digitization are the leading themes influencing investment decisions.
Texas ERS Promotes for Director of Private Real Estate
Simon Mok had been a portfolio manager on ERS’ private real estate team.
L&G Completes $6.14B Pension Risk Transfer With Ford UK Pensions
The buy-in transaction for 35,000 retirees is the largest in the country this year.
Donnelley Terminates Frozen Pension Plan
The company settled its pension obligations through lump sum payments to some participants and by purchasing annuity contracts from an unnamed insurer for remaining obligations.
US Public Pension Funds’ Funded Ratios Rise to Highest Levels in Nearly 4 Years
The 100 largest public pensions’ were 85.4% funded in September, up from 84.2% in August.
Corporate Pension Funding Ratios Hit Highest Level Since 2007
Asset surpluses of the largest corporate defined benefit plans continued to surge in September.
OMERS’ Bruce Power Completes $1B Inaugural Senior Unsecured Bond Issuance
The issuance from the Ontario pension subsidiary is the largest to date within the Canadian power and utilities sector.
Eli Lilly and Co. Selects Goldman Sachs for $25B OCIO Mandate
The company’s CIO, Susan Ridlen, retired in August, and Goldman Sachs Asset Management will now manage its portfolio.
New York Pension Earmarks More Than $1B, Continues to Shun Public Equities
The New York State Common Retirement Fund has now gone nine of the past 11 months without allocating a dollar to public equities.
Australia’s State Super Hires Frontier Advisors as Independent CIO
The consultant firm will employ the superannuation fund’s investment team and manage its portfolio, while the fund will take a ownership stake in the firm.
CalSTRS Forms Climate Co-Investment Partnership With Carlyle Alpinvest
The California State Teachers’ Retirement System will broaden its access to private equity managers investing in climate solution opportunities.