CPPIB Forms €2 Billion European Logistics Partnership
Canadian pension to contribute €450 million of equity.
News
Spot-On Forecaster Sees Lackluster Market for 2019
Morgan Stanley’s Wilson, who called the 2017 blowout and the 2018 letdown, sees more of the same for next year.
Treasury OKs Benefits Reductions for Teamsters Pension
Local 805 Pension Fund can begin cutting benefits as of Jan. 1.
CalSTRS to Challenge Corporate Auditors and Virtual Meetings
The large California pension plan is taking on corporations who use the same auditor year after year as well as companies that have suspended having in-person annual meetings in favor of virtual meetings.
Firms Make Last-Minute Dash for Pension Contributions in Q3
Companies bolster pensions while taking advantage of lower tax rate.
Congress Mulls Multiemployer Pension Bailout
Draft of plan calls for $3 billion a year to subsidize payments for retirees.
Newsmakers
CT Treasurer Proposes Using Lottery to Fix Pension Fund
Denise Nappier eyes lottery-backed revenue bonds to support Teachers’ Retirement Fund.
Risk
SFERS Board Cuts Rate of Return to 7.4%
The minuscule cut reduced the expected rate of return from 7.5%, the highest return projections of any pension plan in California.
Asset Allocation
CalSTRS Proposes Direct Private Equity Should First Target Co-investments
The more cautious approach to direct private equity investing at the second-largest US pension plan contrasts with a more aggressive approach by CalPERS, the biggest US plan.
Risks Increasing to Bull Market
Global economic forecasts offer somber, even gloomy, outlook for 2019.
Corporate Moves
Rebecca Wood to Become President and CEO of FEG
Fund Evaluation Group CEO Scott Harsh steps down after 28 years with firm.
Asset Allocation
Hedge Funds In, Equities Out at San Francisco Pension Plan
A major asset allocation reboot has reduced equities and increased the system’s absolute return or hedge fund allocations as well as put more money in private equity, real assets, and private credit strategies.
Pension Funds’ Appetite for Private Equity Grows
Asset class is top choice for US, UK public pensions in Q3
Larry Summers Puts 2020 Recession Risk at 50%
Former Treasury chief sees risk from slumping stock market, Fed tightening, and international tensions.
CalPERS Starts Fiscal Year with Burst of New PE Commitments
If CalPERS can keep pace, it could surpass the $5.3 billion in private equity commitments in the prior fiscal year