Regulation
BMO Pays $41M to Settle SEC Charges of Failing to Supervise ‘Sliver Bond’ Sales
According to the regulator, firm employees used misleading metrics to sell mortgage-backed bonds.
News
Newsmakers
London CIV Names Jenny Buck as CIO
The appointment of the former Tesco pension CIO will be effective in early March.
Pensions
R.B. Pamplin Corp. to Restore $20.6M in Pension Assets, Unwind Illegal Real Estate Investments
The Department of Labor concluded that Pamplin had used assets from its pension plan to acquire the company’s own real estate, exceeding limits under ERISA.
Pensions
CPP Investments Forms $789M Industrial Real Estate Joint Venture
The partnership with Bridge Industrial will ‘target the acquisition and/or development of modern industrial facilities in supply-constrained markets across the U.S.’
Newsmakers
Treasury Nominee Bessent Touts Fiscal Discipline in Confirmation Hearing
The former Soros CIO and hedge fund manager discussed tax policy, sanctions and deregulation while answering questions from the Senate Finance Committee Thursday.
Corporate Moves
Apollo Global Management Bolsters Infrastructure Portfolio
The $733 billion asset manager has signed three infrastructure deals in the first two weeks of 2025, including its recent acquisition of Argo Infrastructure.
Pensions
PBGC Approves $868.6M SFA Grant to Unite Here Retirement Fund
The White Plains, New York-based plan covers 91,744 participants in the hospitality industry.
Asset Allocation
CDPQ’s Ivanhoé Cambridge Sells 49% of News Corp. Building
The sale is the first major deal since the Québécois pension fund consolidated its real estate units.
Pensions
Public Pension Funds Remain in ‘Fragile State,’ per Equable Report
For the 17th straight year, public pensions remain below 90% funded.
Asset Allocation
UCSD Foundation Repeats as Best-Performing University Endowment in Fiscal 2024
Smaller, equity-heavy funds outpaced larger endowments with higher private market allocations during a boom year for artificial intelligence and tech stocks, per NEPC.
Research
Asset Manager IT Pros Report AI Use Slowed by Internal Resistance, Inadequate Infrastructure
Per a survey by Rackspace Technology, most asset managers plan to move digital data to a private cloud to increase security.
Asset Allocation
U.S. Corporate Pension Funds Ended 2024 Strong
Aggregate funded status was at 100% for 2024, the first time since before the Global Financial Crisis that pension funds closed the year fully funded or better, per data from WTW.
Asset Management Culture
Net Zero Asset Managers Initiative Pauses Activities Following BlackRock Exit
The NZAM suspended activities and removed an online signatory list while reviewing how the organization fits into a ‘new global context.’
Pensions
PBGC Approves SFA Funds for 3 Multiemployer Pension Funds
Laborers Local No. 265, Teamsters Local 734 and the IUOE Upstate NY Engineers Fund will receive grants totaling almost $250 million under the Special Financial Assistance Program.
Newsmakers
Kelly Cavagnaro Joins Janus Henderson as Head of North America Institutional
The appointment of Cavagnaro is effective immediately.