Pension Risk Transfer Premiums Reach $14.6 Billion in Q1
146 contracts were sold in the quarter, a 26% increase from Q1 2023 and an all-time record.
Pensions
Swedish Pension AP7 Blacklists Oil Giant Aramco
The $115 billion fund also added six other firms to its banned roster for ‘acting against the targets of the Paris agreement.’ Most are in China.
Former TIAA Trader Sentenced to Nearly 6 Years for $47 Million Insider Trading Scheme
Lawrence Billimek allegedly profited from information regarding behemoth’s impending stock purchases and sales.
Illinois Municipal Retirement Fund Approves $282.5 Million in Commitments to Four Alternatives Managers
Five commitments in total were approved to AUA Private Equity Partners, Inflexion, Sterling Group and H.I.G Capital Partners.
Pennsylvania PSERS Returns 8.62% in 2023
The fund also made over $760 million in commitments to managers.
Korean National Pension Service Returns 5.82% in Q1, Plans Boost to Alternatives
Assets of the pension rose to $797 billion during the quarter, boosted by U.S. tech stocks.
Mass PRIM Allocates More Than $2B to Credit Managers in New Commitments
The pensions board approved $3.5 billion in total commitments, and saw its assets grow to $104.2 billion.
Norway’s Central Bank Adds 3 Firms to Government Pension Fund Global’s Exclusion List
The $1.65 trillion pension giant is prohibited from investing in Adani Ports & Special Economic Zone, Weichai Power and L3Harris Technologies.
Shareholder Activist Vote Against ExxonMobil Fails
An average of 95% of votes cast support the company's board amidst a lawsuit against two shareholders over sustainability concerns.
Entergy Enters $1.2 Billion Pension Risk Transfer with MetLife
The transaction is one of many billion-dollar annuity buyouts to occur this year.
Record $15B in Pensions Transferred to Insurers in Q1
Jumbo deals by Verizon and Shell led a busy quarter that points to a busy year for PRT.
NYC Pensions Fail to Persuade BlackRock Shareholders to Eject Aramco CEO From Board
Despite objections, Amin Nasser was not only overwhelmingly re-elected to BlackRock’s board, but he received nearly 3 million more votes than Chairman Larry Fink.
NYC Pensions Invests $60M for 25% Stake in Affordable Housing Joint Venture
Community Stabilization Partners was created after the 2023 collapse of Signature Bank to help support rent-stabilized apartments.
CPP Investments Returns 8% in Fiscal 2024
Net assets rose to $462.66 billion in the period ending March 31.
NYC Pensions Oppose Tesla Executive Pay Package
New York City Comptroller Brad Lander and seven other investment firms oppose Elon Musk’s proposed $56 billion pay package.