Asset Allocation
Unicorns Hobbled Amid VC Pullbacks
Non-public companies valued at $1 billion and up haven’t sprung back with the stock market.
News
Regulation
House Republicans, Senate Democrats Agree on PBGC Administrative Funding
If the bills are reconciled, the PBGC would receive $513 million in funding, with adjustments made for additional terminated plans.
Risk
OCIO Assets Plummeted With Markets in 2022, but Don’t Call It a Crisis
For the top 8, including Mercer and BlackRock, last year marked an unaccustomed reversal of fortune, a study by Charles Skorina found.
Asset Allocation
Blackstone’s BREIT Sells Storage Business for $2.2B as Withdrawals Abate
Private equity firm reports that redemptions for the REIT are down 29% from their peak in January.
Asset Allocation
Penn SERS Earmarks $100 Million for 2 Private Equity Funds
The pension fund also rehired NEPC as its real estate investment consultant.
Asset Allocation
Singapore’s Sovereign Wealth Fund Posts 6.9% 20-Year Return
GIC also reported 5- and 10-year annualized returns of 3.7% and 5.1%, respectively.
Regulation
SEC Finalizes Cybersecurity Disclosure Rules
Issuers will have to disclose ‘material cybersecurity incidents’ within 4 business days.
Asset Allocation
Canadian Pension Plans Look to Annuities, Fixed Income to Preserve Pension Surpluses
With funded ratios at their highest levels in years, pension risk transfers are among the ways firms are trying to de-risk their portfolios.
Newsmakers
Alline Akintore Joins Oregon Investment Council
The Oregon Venture Fund partner was appointed by Governor Tina Kotek and confirmed by the state senate in June.
Asset Allocation
Global Pension Fund M&A Investment Drops Off Cliff in Q2
Sponsors invested in deals worth $740 million during the quarter, down from nearly $14 billion in Q1.
Risk
What Could Make the Fed Continue Tightening?
More housing price increases might squelch the conventional wisdom that July’s hike will be the last, some strategists say.
Research
Private Credit: Fees Down, Rates Ascend
Investors in the in-vogue asset class hope that rising yields will boost their take.
Newsmakers
NYC Comptroller Calls for Executive Clawbacks at Bank of America
Brad Lander also lashed out at BlackRock for appointing the CEO of the Saudi Arabian Oil Co. to its board.
Corporate Moves
Teamsters Drop Yellow Strike Threat After Central States Pension Extends Benefits
The union threatened to strike over a missed $50 million payment by subsidiaries of Yellow, which accused the Teamsters of breaching their CBA.
Regulation
PBGC Clarifies ‘Return Seeking’ and ‘Investment Grade’ for SFA Purposes
Reacting to some confusion about the terms’ precise meanings, the PBGC clarified and provided examples of both.