Here now, the news:
- Riskier Business I: Japan’s Giants are planning to boost their risk budgets. They better boost their “governance budgets” first!
- Riskier Business II: Korea’s big four public pension funds (NPS, KTCU, MMAA, & PMAA) are looking abroad to boost returns.
- Legit: According to Temasek, “we invest capital accumulated from generations of hard work.” IE We didn’t find this money. We earned it.
- Collaboration: Oklahoma is home of some next-gen pension fund collaboration.
- New SWFs I: Greenland thinks it will have a sovereign fund worth $80 billion! (cough cough ... by 2060... cough)
- New SWFs II: Ontario may be launching a new $2.5B sovereign development fund.
- Overseas Offices I: Temasek is launching its new office in London
- Overseas Offices II: BCIMC is setting up an overseas office too!
- Overseas Offices III: Singapore’s SWF has launched its 10th (!) regional office. This one is in Brazil.
- Cash Injection: An Omantel divestment will result in $500M transfer to Oman’s State General Reserve Fund.
- Say What Now? “Chinese direct investment in Russia grew 40-fold in the 2004-2012 period.”
- Sweden: There’s a BIG problem with Sweden’s Buffer Fund Shakeup.
- Real Estate I: Norway’s SWF is in talks to buy a ‘prime office and retail development’ in Paris for around €425m.
- Real Estate II: The State Oil Fund of Azerbaijan (SOFAZ) is buying up some prime real estate in South Korea.
- Ethics: SocGén allegedly paid a $58 million bribe to win a $2 billion mandate from the Libyan Investment Authority. Lord. Think how much it “earned” to make that bribe worth it?
Have a great weekend!
