Newsmakers
Founder, Former CIO of Infinity Q Sentenced to 15 Years
Ohio and Texas pension funds were among investors who lost millions as a result of James Velissaris’ fraud.
News
Regulation
SEC’s ESG and Climate Task Force Levies First Enforcement Action
Brazilian mining firm Vale SA fined $56 million for fraud that led to fatal 2019 dam collapse.
Asset Allocation
Will Private Equity Get a Piece of Pro Football?
If NFL owners allow it, the buyout bunch would be dipping into a lucrative pool.
Asset Allocation
Blackstone Raises Record $30.4 Billion for Real Estate Fund
The private equity giant has shifted from offices and malls to logistics, rentals and hospitality assets.
Newsmakers
Alecta Fires CEO as Fallout Continues From $2 Billion Banking Losses
Magnus Billing lost the confidence of the pension fund’s board, and Katarina Thorslund has been named acting CEO.
Regulation
Recent SEC Proposals to Come Under Scrutiny of Financial Services Committee
The full House Committee on Financial Services has scheduled an oversight hearing for the SEC next week, when climate disclosure will likely be a high priority.
Research
Goldman: Artificial Intelligence Will Boost Global GDP by 7%
There will also be a job-loss toll, but, as in previous technology leaps, many displaced workers will fit into newly created positions, the firm’s study says.
Regulation
UK Launches Green Finance Strategy
The British government hopes to raise more than £1 billion annually toward reaching net zero by the end of the decade.
Market Moves
Gold’s Price Nears Record High, Driven by Uneasiness
Shaky banks and other worries propel the haven investment upward.
Regulation
Recent Investment Company Act Exemption Could Lay Groundwork for More
SEC defines parameters for one tech company to invest in ‘capital preservation instruments’ without having to register as an investment company.
Risk
Pension Funds Sue Silicon Valley Bank’s Officers, Auditor KPMG Following Failure
Complaint alleges the company's executives and its auditor ‘understated and concealed’ the risks posed by rising interest rates.
Corporate Moves
Cambridge Associates Reaches Minority Investment Target, Sets New Goal
After hitting its goal of making 10% of investments with diverse managers, the investment firm aims for 15% by 2025.
Regulation
Cement Workers’, Teamsters’ Pensions Receive Additional PBGC Funding
The PBGC paid out $438 million in additional funding to the NYS Teamsters Conference Plan and smaller amounts to three other plans.
Risk
Drooping Dollar May Face Global Reckoning, but Is There a Viable Replacement?
Eurasia Group’s Ian Bremmer pushes back against resurgent notions that the greenback is destined for permanent decline.
Regulation
New York Common Commits $1.3B to Sustainable Program
The $242.3 billion state pension fund also committed more than $600 million to alts in February.