A monster news day in the land of the Giants:
- Western Australia will in fact create a new sovereign fund.
- But here’s a case against a new Australian SWF (and, while they’re at it, the existing Future Fund).
- Texas Teachers’ takes a $250 million equity stake in Bridgewater.
- Sailing Capital International -- a new $8B Chinese fund -- will help Chinese companies “venture out”.
- Norway debates lowering return expectation for SWF to 3 from 4%...while US pensions fight over move to 7 from 8.5%. Crazy.
- Khazana continues to invest in domestic and foreign sustainable energy projects and companies.
- The QIA apparently paid half a billion dollars for Credit Suisse’s headquarters.
- Oman’s SWF boosts holdings in Dubai Mercantile.
- Dutch pensions are struggling with the liability side of the equation. (Their assets are doing fine.)
- Here’s an interesting take-down of Alex Salmond’s idea for a Scottish SWF (and for Scottish independence).
- Hillary Clinton is still using the Santiago Principles (which govern SWF transparency) as a model for other sectors. (I wonder if she’s read this.)
- AIMCo CEO: “I’m not sure I’d want to buy the Athens airport, but it’s that sort of asset that is becoming available”
- Here’s the transcript of speech I gave a few months back at a conference in KL on ‘New Rules for Institutional Investors.’
