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Weekend Reading

Here now, the news:

- Harvard is creating an alternative endowment for alumni that want their donated money invested according to social criteria.

- Mozambique has plans to create a new sovereign wealth fund.

- China has scrapped its QFII restrictions for sovereign funds and central banks of foreign countries. 

- That NYCTRS is committing $1 billion to the Sandy Reconstruction effort is nice... But is it within the pension fund's mandate? I'm not so sure...

- European pensions are cutting their illiquid exposure just as, it seems to me, North American funds are ramping them up.

- The portfolio companies of Kazakhstan's Samruk-Kazyna are expanding rapidly.

- The OECD has called on Australia to launch a new stabilization fund to smooth mining revenues and avoid Dutch Disease:

And then here’s some interesting research:

- Here’s a paper wherein I (with some co-authors) try to develop a creative financing vehicle ("iCoop”) to help investors access infrastructure opportunities on an aligned basis.

- Here’s a new paper that examines the firm-level implications of equity purchases by the state. It's worth a gander. 

- Here’s an interesting paper examining the governance challenges associated with sustainable investment policies among institutional investors.

Have a nice weekend! 

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