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...The $38tn US retirement system is one of the world’s largest, and US employers were among the first to shift from defined benefit pensions to defined contribution plans....
...Even one of the overarching review studies that NBIM itself cites — Risk And Return in Private Equity by the University of Southern California’s Arthur Korteweg — indicates that “when additional risk factors...
...We would like to expand the business to 1,000 people within five years, opening an office in California, and European cities like Paris, Berlin and Copenhagen. Have you made any pension provision?...
...Plus the chief executive of Calpers, the biggest pension plan in the US, tells Jo Cumbo about its responsibility to help stamp out “greenwashing”....
...He spent 15 years at the Canada Pension Plan Investment Board before working under former Carlyle boss Kewsong Lee as the private equity firm’s chief development officer....
...Walt Disney has scrapped plans to relocate thousands of California-based employees to a new campus in central Florida, according to an internal memo....
...The decision to review the fiduciary duties of pension fund trustees in relation to climate and energy transition risks is significant....
...The SEC advisory group, whose members include representatives from the hedge fund Trian, the financial adviser Edward Jones and the California pension fund Calpers, demanded the creation of an investor panel...
...If that sounds like a far cry from the days of Sequoia and SoftBank funding dynamic start-ups with plans to reshape the Chinese economy, that’s because it is....
...The nation’s anti-California....
...Steve Southern, chair of the trustees, said on Tuesday that he was “pleased” that CD&R had been able to “provide the necessary support and reassurance”, and that talks with the private equity firm were “...
...Turbulent global markets drove the $440bn California Public Employees’ Retirement System, the largest US public pension plan, to its first annual loss since the global financial crisis in 2009....
...You've got the Ontario Teachers Pension Plan - just these huge investors. And BlackRock - I mean, a traditional finance who are very sceptical about crypto - they invest in FTX, rather than Binance....
...Southern California....
...BlackRock is among a large group of global investors, from pension plans, to hedge funds, and allocators of sovereign wealth, who hold Russian assets that were worth almost $170bn at the end of 2021....
...of Lewis Brownlee Financial Services in southern England....
...However, its chief executive and founder Jason Citron plans to change that, he told the FT’s Hannah Murphy in an interview....
...— similar to a pension plan or maybe a healthcare plan....
...Yet while these may well be factors, they feel like symptoms of a bigger malaise, which is that pension fund trustees are simply overwhelmed when it comes to the opaque informational soup that private equity...
...It added that there were no issues with its pension fund, which had assets of £2.4bn at the end of 2019, and an agreed funding plan with trustees....
...Phalippou’s take on the pension funds question: some institutions’ private equity specialists don’t complain about returns for fear of losing their jobs, and some trustees may lack financial literacy....
...Earlier this week, the US government’s main pension fund halted plans to invest in Chinese stocks after pressure from administration officials....
...in southern England....
...Last year Art Space Sanctuary, an artist-driven initiative, carried out a campaign against New York’s Museum of Modern Art focused on one of its trustees, Larry Fink, the chief executive of BlackRock....
...But Richard Manley, head of sustainable investing at the Canada Pension Plan Investment Board, sees a third risk that markets are just now starting to consider....
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