Here’s what you missed over the weekend:
- Development Risk: As if to remind us all of the very real challenges of doing greenfield investments, Dutch health service pension fund PGGM is struggling to get its massive wind farm built in Mexico.
- Rounding Third: The New Zealand Superannuation Fund will triple its investment in Z Energy when the latter goes public next month.
- Family Offices: The Forbes family has plans to roll out a massive multi-family office platform.
- Asset Management: Mubadala has apparently converted its investment in EBX into debt. And, as a result, Eike Batista’s worth, which was not long ago pegged at around $35 billion, continues to plummet. At last count, he’s worth $200 million, which is a 99 percent drop! Dang, y’all!
- Governance: Detroit’s pension funds are case studies in bad governance: Cronyism and political deals --> bad returns.
- Deal Flow: Singapore’s GIC and Japan’s Mitsubishi are considering a joint bid for European nuclear fuel maker Urenco.
- Locals Only: Korea’s National Pension Service is over-weighting auto and financials firms... all of them local.
