Pensions
Illinois Police Fund Finishes Consolidation of Local Pensions
The 14th and final tranche of asset transfers was valued at $1.6 billion, bringing IPOPIF assets to $12.9 billion.
News
Manager Selection
Indiana Fund Narrows Finalists to Replace BlackRock
Under state law, the pension fund is required to replace service providers if they are determined to have made ESG commitments.
Corporate Moves
Northern Trust Signs Deal in Singapore to Work On Tokenizing Green Assets
The agreement with the National University of Singapore aims to support sustainable investing and blockchain technology.
Asset Allocation
Funds Are ‘Getting Back to Basics,’ Refocusing on Long-Term Returns
Pension and sovereign wealth funds are prioritizing returns over liquidity, according to the OMFIF’s annual review.
Risk
Structured Alpha Manager Settlement Offers Due Diligence Lessons
Investors need to ask about managers’ controls and for ‘evidence’ they are being used, consultant says.
Leech Pleads Not Guilty in WAMCO Cherry-Picking Probe
The former Western Asset Management Co. co-CIO is accused of making favorable trades for some clients at the expense of others.
Asset Allocation
BlackRock Identifies 1% to 2% as Optimal Bitcoin Allocation
Institutional adoption of the digital asset can dampen its volatility, according to a paper from the asset manager.
Regulation
Cantor Fitzgerald Settles SEC Charges Over Misleading SPAC Disclosures
The firm will pay a $6.8 million fine for allegedly making false statements in regulatory filings.
Asset Allocation
Ardian, Saudi PIF Complete $4.2B Acquisitions of Stake in Heathrow Airport
The two investors purchased interests in FGP TopCo, with Ardian taking a 22.6% stake and the PIF a 15% cut.
Pensions
PBGC Provides $29.3M to Teamsters Local 11 Pension Plan
The New Jersey-based transportation workers pension fund is in critical status, according to the Pension Benefit Guaranty Corporation.
Asset Allocation
Texas Teachers Returns 12.7% in Fiscal 2024
The $209.5 billion pension is expected to be fully funded by 2052.
Asset Allocation
Australian Super Fund AMP Makes Bitcoin Allocation
With $36.24 billion in assets, AMP will allocate 0.05% to the digital currency that recently topped $100,000 in value.
Pensions
Ohio Passes Bill Barring State Pension Funds, University Endowments From Prioritizing ESG in Investing, Stakeholder Activism
Ohio Senate Bill 6 now headed to Governor Mike DeWine’s desk to be signed into law.
Asset Allocation
Buffalo Bills, Miami Dolphins Finalize NFL’s 1st Private Equity Investments
Arctos Partners and Ares Management will take stakes in the Bills and the Dolphins, respectively, following a landmark August decision that permitted PE investments in the football league.
Pensions
Wates Group Pension to Transfer 1,500 Members to UK ‘Superfund’
$267 million in assets will move to Clara-Pensions, the company’s third such transaction—but first with an active sponsor.