Welcome to the weekend! Here’s some news for your reading enjoyment:
- Innovation: University of California received Regental approval for its bold sustainability investment policy and for the $250 million UC Ventures. Very cool developments.
- The Law: Goldman Sachs is being investigated for hiring the brother of a former official at Libya’s sovereign wealth fund. This is part of broader investigation into the billion dollar derivative catastrophe.
- Texas: One of the oldest sovereign wealth funds in the world, the Texas Permanent School Fund, received $1.2 billion in new capital in 2014.
- Geopolitics: Kazakhstan’s sovereign wealth fund will accelerate its sales of Ukrainian assets because of “political risks.” That seems wise.
- SWF Governance: Reacting to new calls for sovereign wealth funds to develop a code of conduct to guide their investment behavior, the International Forum of Sovereign Wealth Funds says: “Wait what? We did that. We ARE that. What are these people talking about?”
- Top Models I: More deserved respect for New Zealand’s sovereign fund.
- Top Models II: What’s happening with Sweden’s five buffer funds? Here’s a nice review.
- Top Models III: Malaysia’s 1MD claims to have a unique model for sovereign development funds to copy: the sovereign debt fund.
- Secondaries: The Regents of the University of California is looking to sell about $500 million in older private equity stakes.
- Greener Pastures: Leo de Bever’s retiring... and not retiring. Either way, he’s had a massive impact on our industry.
- Gross: 97 percent of hedge fund owners are white men.
- Collaboration I: The International Forum of Sovereign Wealth Funds is looking for new members among central banks? Yes, it seems so.
- Collaboration II: Russia and China are reportedly discussing more than 30 joint projects worth more than $100 billion.
Have a great weekend!
