Goldman Sachs: Leveraged Buyouts Have Disappeared from Wall Street
Expensive
valuations and increased competition have halted leveraged buyouts in 2014,
according to the firm’s analysts.
News
Board Clashes, Lawsuit Over Pay at Outsourced San Diego Pension
One trustee called the public pension’s contract with OCIO Salient Partners “exorbitant,” charging “outlier-type fees.”
Newsmakers
Scott Malpass, CIO of Notre Dame, to Receive Lifetime Achievement Award
The veteran endowment CIO will take home the most important Industry Innovation Award at a dinner on December 8 in New York City.
AP3 Investment Chief Exits
The head of asset management at Sweden’s third public pension fund has left his role ahead of an overhaul of the system.
NY Pension, GSAM Ink $2B Strategic Partnership
The $180.7 billion public pension fund and Goldman Sachs will work closely on “dynamic manager selection opportunities” in global equities.
UN Appoints Ex-Public Pension CIO to Lead $54B Fund
Carol Boykin will be the United Nations’ first representative of the secretary-general for investments.
Fresh Liquidity Warning from Bond Managers
Should regulators be scrutinising bond fund liquidity? Some in fixed income markets think so.
Malaysian Pension Appoints New CIO
Equity chief Nik Amlizan Mohamed takes over with immediate effect at the helm of the $31 billion public pension fund.
Juilliard CIO to Depart, Replacement Sought
After six and a half years at the $1 billion endowment, David Marcus is set to step down.
Carlyle Ends Collusion Suit with $115M Settlement
The total settlement from seven private equity firms amounted to almost $600 million.
In Canada Pension Plan Fee Controversy, Critics Go for Jugular
What started as a critique of CPPIB's expense accounting has spiraled into partisan accusations of deception, bureaucratic bloat, and “empire building.” Leanna Orr investigates.
Wall Street Loses its Grip on Asset Management
Custodians are striding in to fund management as banks fade out of the sector.
Former SAC Manager Handed Nine-Year Jail Term
Mathew Martoma is the seventh ex-SAC Capital employee to be convicted of insider trading.
ADD or Value-Add? Hedge Funds’ Ideal Activity Level
Highly active fund managers tend to outperform those who buy-and-hold in absolute returns, but researchers found that adjusting for risk reversed their results.
Rating Agencies Deal Fresh Blows to New Jersey, Illinois
New Jersey’s debt has been downgraded by Fitch, while Moody’s says Illinois faces “daunting” challenges over pension funding.