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The Daily Brief

A monster news day in the land of the Giants: - Western Australia to create a new sovereign fund. - Texas Teachers' invests in Bridgewater. - A new $8B Chinese fund to help Chinese companies. - Norway debates lowering return expectation. - Khazana continues to invest in sustainable energy. - And a lot more...

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.'

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