Pensions
Real Estate, Public Equities Boost CalPERS’ Climate Investments to $60B
The allocation is up from $53 billion in 2024 and $47 billion midway through 2023 while working toward its $100 billion goal.
News
Newsmakers
HESTA’s Dianne Sandoval Named CIO of Maryland SRPS
The superannuation executive will succeed retired Chief Investment Officer Andrew Palmer at the Maryland State Retirement and Pension System.
Regulation
Senate Committee Approves Michael Selig After CFTC Confirmation Hearing
The nominee mostly avoided responding to questions that focused on the commission’s limited resources as it attempts to tackle prediction markets and cryptocurrencies.
Newsmakers
RBC Asset Management Promotes Stu Kedwell to Global CIO
Kedwell will succeed the retiring Dan Chornous, effective January 31, 2026.
Research
OCIO to See $1.3T in Inflows by 2029
Growth in defined contribution channels is expected to lead outsourcing assets to $5.6 trillion by the end of the decade, according to Cerulli.
News
US ETF Growth By the Numbers
Against a backdrop of growth, institutional investors are contemplating the best ways to utilize exchange-traded funds in their portfolios.
Corporate Moves
Alts Manager Wafra Takes Stake in Ardian
The investment, made through the firm’s strategic partnerships program, is one of many GP stakes it has made.
Newsmakers
Steyer Takes Leave From Climate Fund to Run for California Governor
The billionaire co-chair of Galvanize Climate Solutions and founder of Farallon Capital will make a bid to succeed term-limited incumbent Gavin Newsom.
Asset Allocation
How Insurers Have Used ETFs to Manage Equity Exposure
Equity exchange-traded funds, rather than fixed-income options, are the top choice of insurance investors, according to State Street’s Meta Curry.
Regulation
SEC Grants Dimensional Approval to Launch ETF Share Classes
The agency signaled its approval in September, but the official verdict was delayed because of the government shutdown.
Alternatives
Japan’s GPIF Creates Alts Database as It Expands Exposure to Asset Class
The pension giant’s alts holdings have ballooned to $27.3 billion from $1.3 million over the past decade, with room to grow.
Pensions
CalPERS Board Votes to Approve Total Portfolio Approach
The California pension approved the proposed change to implement TPA—the first institutional allocator in the U.S. to do so—by July 2026.
Corporate Moves
Truist Launches Institutional Capital Group
The team, which will cover middle-market private equity sponsors and family offices, will be led by Chris Jackson.
Newsmakers
Panama Sovereign Fund CIO to Step Down
Abdiel Santiago will leave the Fondo de Ahorro de Panamá on December 4 as part of a planned leadership transition.
Asset Allocation
University Endowments Returned to Growth in 2025
Higher education institutions saw strong returns across asset classes, especially in equities, and significant exposure to themes related to digital assets and artificial intelligence.