Corporate Moves
Manulife to Acquire 75% of Private Credit Shop for $937.5M
Comvest Credit Partners manages $14.7 billion in assets and would be merged with Manulife’s existing credit platform.
News
Pensions
National Grid Completes Third Pension Risk Transfer via Rothesay
The $1.2 billion annuity buy-in, the third in five years conducted by the pension and insurer, will cover 7,130 uninsured scheme members.
Newsmakers
Annika Kim Named Credit Director at TMRS
Kim joins the pension fund from Apollo Global Management, where she was a private equity associate.
Regulation
New SEC Task Force Focuses on AI Applications
Valerie Szczepanik, the SEC’s chief artificial intelligence officer, is leading the effort to facilitate AI integration across the agency.
Pensions
New York City Pension System Returns 10.3% in Fiscal 2025
The city’s five retirement systems collectively managed $294.6 billion as of the end of June 30.
Asset Allocation
ETFs Saw $121B in Inflows in July, $677B for Year to Date
Investors piled into equity and fixed-income exchange-traded funds, while dumping small-cap exposure.
Newsmakers
Sparkes Joins Pandion Asset Management to Lead Business Development
The former director of the New York City Board of Education Retirement System’s experience spans decades working with institutional asset allocators.
Newsmakers
University of North Carolina CIO Jonathon King to Retire
King has served as president, CEO and investment chief of the UNC Management Co. since 2005.
Pensions
MassPRIM Returns 9.6% in Fiscal 2025
Massachusetts Pension Reserves Investment Management assets rose to $115 billion.
Asset Allocation
Brinley Partners Launches Inaugural CLO, Backed by $4B From Insurance Firm
The BCI-backed private credit firm plans to target companies in defensive sectors.
Manager Selection
New York State Pension Puts More Into Private Equity
The $273 billion New York State Common Retirement Fund committed $2.3 billion to the asset class during March and May alone.
Manager Selection
Nest Commits $750M to Timberland Fund
The U.K.’s largest workplace pension will gain exposure to the asset class through BTG Pactual TIG.
Newsmakers
Geoffrey Berg Named University of Rochester CIO, Succeeding Doug Phillips
The endowment’s new investment chief previously held the role at the South Carolina Retirement System Investment Commission.
Newsmakers
Lehigh University Names Michael Gould as Interim CIO
On staff in the endowment’s investment office since 2018, Gould steps in for the departing Kristin Agatone.
Asset Allocation
Fixed-Income Benchmarks Become More Customized
Technology, data collection and better funded statuses have asset owners rethinking traditional benchmarks.