Alternatives
Record $3.2 Trillion in Unsold Private Equity Assets, Bain Reports
PE firms hold onto overpriced assets for longer, constraining distributions to LPs, but Bain sees a light at the end of the tunnel.
News
Pensions
Corporate Pension Funding Levels Skyrocket in February
A majority of the largest U.S. corporate pensions are at their highest levels in decades, according to a number of pension trackers.
Pensions
Ontario Teachers’ Returns 1.9% in 2023
Losses in infrastructure and real estate offset strong equity returns for the fund.
Market Moves
Tall Order: Bulls Hope Reddit’s Fledgling Stock Will Lift the IPO Curse
Previous supposedly hot offerings, like Instacart, did nothing to help the tattered new-issue market.
Regulation
Carried Interest, Stock Buybacks, Other Tax Increases Included in Biden Budget Proposal
The other tax increases would include higher minimum taxes on billionaires and corporations.
‘Shadow CEO’ of Real Estate Investment Firm Pleads Guilty to $650M Ponzi Scheme
Nicholas Salzano agreed to a prison term of eight to 12 years for securities fraud, conspiracy to commit wire fraud and conspiracy to defraud the U.S.
Asset Allocation
Malaysia’s KNB Announces 2023 Returns
The sovereign wealth fund’s profit last year was more than three times that of 2022, as its total assets grew to $14.1 billion.
Asset Allocation
Asia Emerging as a Source of Investment Opportunity
Whether seeking diversification or value in active equities, several countries in the region may be attractive for years to come.
Risk
That ’70s Show: Can Stagflation Return?
Several finance savants, including Jamie Dimon, admonish that high inflation and a punk economy could stage a comeback.
Opinion
Can Private Asset Allocations Lead to Privation?
Strategic asset allocation is not static asset allocation; how are investors managing embedded beta risks in private asset portfolios?
Corporate Moves
Saudi Arabia Transfers 8% of Aramco to Wealth Fund
The capital infusion into the sovereign wealth pool is meant to aid the kingdom’s bid to diversify its economy.
Pensions
Germany Plans Pension Reform, Establishment of 200B-Euro Fund
Draft legislation would increase pension contributions amidst an aging population.
Regulation
SEC Finalizes Amendments to Require Greater Execution Quality Disclosure
Updates to the rule on trade execution received a rare 5-0 vote.
Asset Management Culture
More Diverse Managers Are Raising Venture and PE Funds at Fastest Pace, Research Finds
The number of women- and minority-owned private equity and venture capital firms in the US grew nearly 20% from 2022 to 2023.
Pensions
With Corporate DB Pension Funding at All-Time High, Will Pension Reversion Transactions Increase?
Likely not, but there are opportunities for plan sponsors to take advantage of excess pension assets.