Former Western Asset Management Exec Ken Leech Pleads Guilty to Obstruction
The former co-CIO admitted he lied to the Securities and Exchange Commission regarding an alleged cherry-picking scheme.
News
Market Moves
How Will Upcoming Mega-IPOs Impact Family Office Formation and Growth?
The upcoming public offerings of SpaceX, OpenAI and Anthropic are set to result in an increase in demand for family office services and in possible shifts to how these funds invest.
Newsmakers
CalPERS Elevates Anton Orlich, Names Derek Walker to Lead Total Portfolio Approach
Orlich will oversee the pension fund’s alternative investments, while Walker will spearhead it’s adoption of TPA.
Newsmakers
OMERS CIO Ralph Berg to Depart for Temasek
Berg will take up a new role leading the Singapore sovereign wealth fund’s energy and mobility teams.
Market Moves
While Retail Investors Flee Private Credit, Institutional Investors Stay Put
Several asset managers have seen increased redemptions from their business development companies due to heightened concerns about the asset class, but traditional limited partners are largely unphased.
Asset Allocation
Council of Institutional Investors Warns of SpaceX Governance Risk
Sixteen members of the asset owner association raised concerns about the company’s upcoming initial public offering.
Newsmakers
Illinois Treasury CIO Joe Aguilar Departs for Multi-Family Office
Aguilar will serve as vice president and CIO of Market Street Trust Co.
Asset Allocation
CPP Investments Re-Bids for ReNew Energy Global
A consortium led by the Canadian pension giant has proposed to acquire the remaining shares it doesn’t own in the renewable energy company for $6.75 each.
Corporate Moves
Federated Hermes Becomes Latest Manager to Introduce Tokenized Money Market Funds
The firm’s OFFXX aims to comply with the GENIUS Act.
Risk
More Volatility or Economic Fallout? How Long-Term Investors Can Identify and Manage Risk
The ‘fundamentals’ that should stay top of mind, especially in current times, include studying data and planning for multiple scenarios.
Newsmakers
Panama’s Sovereign Wealth Fund Names New Head
Victor Mojica Caballero will serve as secretariat of the Fondo de Ahorro de Panamá, succeeding Abdiel Santiago.
Western Asset Management to Pay $100M Fine Over Former CIO’s Alleged Cherry-Picking Scheme
The Franklin Resources subsidiary will resolve a federal investigation into the firm over the trading practices of former Co-CIO Ken Leech.
Pensions
North Carolina Pension Decides Against NHL Investment, Still Sees Prospects in Sports
While the North Carolina Retirement Systems passed on the opportunity to invest in the Carolina Hurricanes, the system is exploring opportunities in the sector, according to State Treasurer Brad Briner.
Regulation
Digital Assets Regulation Central to SEC 5-Year Plan
The agency called for ‘legal certainty’ on blockchain and crypto asset technologies, while also prioritizing a reduction in mandatory corporate disclosures.
Regulation
New York City Comptroller Warns Texas Move Would Disenfranchise Exxon Shareholders
Critics say recent Texas laws favor corporate decisionmaking at the expense of shareholders’ proposals and voting power.