Corporate Moves
New York Times Makes $235 Million Pension Risk Transfer to MassMutual
About 1,850 affected retirees will continue to receive payments from the life insurer.
News
Pensions
Pennsylvania PSERS Returns 1.13% in 2020
Net position of teachers’ fund drops by $105 million as benefit payments exceed contributions.
Regulation
SEC, SDNY Charge Seismic Data Firm in $100 Million Accounting Fraud
Former SAExploration CEO faces up to 65 years in prison in connection with alleged scheme.
Market Moves
Maybe a Biden Cap Gains Hike Won’t Keelhaul the Stock Market
Despite investor qualms, equities should keep heading north, JPM predicts.
Regulation
Justice Department Launches Cryptocurrency Enforcement Framework
The guide provides an overview of the threats faced by the illicit use of cryptocurrencies and ways to combat them.
Asset Management Culture
Penn, Cornell Lag Behind Other Ivy League Endowments
The Pennsylvania and New York schools returned 3.4% and 1.9%, respectively, in 2020.
Alternatives
CDPQ Expands into Renewable Energy Infrastructure in Spain
The Canadian pension plan continues its growth in sustainable investments around the globe.
Asset Management Culture
Harvard Spins Off Natural Resources Team
Solum Partners will be led by former Harvard Management Company division chief Colin Butterfield.
Asset Management Culture
Singapore’s Temasek Launches $55 Billion Asset Management Group
Seviora Holdings will be the holding company for four Temasek-owned or affiliated companies.
Asset Allocation
GIC Leads $100 Million Funding into India’s Fintech Razorpay
The Bangalore-based startup joined the unicorn club with a valuation just north of $1 billion.
Market Moves
Bullish Signs: Copper and Silver Shine Anew
The two metals’ prices have climbed nicely, a good counterpoint to the jobs situation.
Asset Allocation
CPPIB Sells 50% Stake in London’s Nova Victoria to Singapore-Based REIT
The transaction is expected to yield $549 million when the deal closes later this year, the fund said.
Asset Management Culture
Ford Foundation Doubles Racial Justice Funding to $330 Million
The investment comes from proceeds from the $1 billion social bond offering earlier this summer.
Regulation
McAfee Charged with Fraudulently Touting ICOs, Arrested for Tax Evasion
Creator of anti-virus software allegedly secretly received over $23 million for promoting initial coin offerings.
Market Moves
4 Scenarios on Stimulus Package, Post-Election
What different combinations of control on Capitol Hill and the White House would mean, by LPL’s reckoning.