Cedars-Sinai Selects Pasy Wang As Vice President, Chief Investment Officer
In this newly created leadership role, Pasy Wang will design and manage Cedars-Sinai's investment portfolio to support organizational growth and critical patient care for the community. Wang comes to Cedars-Sinai from the California Institute of Technology (Caltech), where she served as senior managing director of investments for the university's Investment Office.
California Teachers’ Pension System Increases Co-Investing
One of California’s largest public pension plans meaningfully stepped up its co-investment activity during the six-month period ended 30 September as it sought to reduce fee expenses and become more engaged in the investing process.
U.S. Pension System Ramps Up Co-Investing
Fallout from the coronavirus pandemic failed to slow a push into private equity co-investments by one of California’s largest public pension plans during this year’s first half. The $253.6B California State Teachers’ Retirement System ramped up commitments to both co-investing alongside fund general partners and to opportunistic debt funds.
Hedge Fund Collects $3B In Bet On Wildfire Insurance Claims
Baupost Group, the hedge fund run by Seth Klarman, received more than $3 billion in July from its bet on insurance claims against PG&E Corp. connected to a series of deadly California wildfires.
CalPERS Investment Chief Abruptly Resigns
California Public Employees’ Retirement System Investment Chief Ben Meng has resigned after about a year and a half in the position at the nation’s largest pension fund, according to the fund. It marks an abrupt exit for the investment chief, who set out to implement a reform agenda at the giant pension.
City Of San José Leveraging Its Proximity To Silicon Valley | CIO Prabhu Palani | Q&A
Prabhu Palani is the CIO of the City of San Jose's Retirement System, one of the 10 largest cities in the U.S., where he manages a $6 billion multi-asset class portfolio for two distinct plans. In this interview, he discusses his successful experiences working with some of the largest institutional buy-side firms, why the City of San José takes on an endowment-like approach with exposure to private asset classes, and how he plans on leveraging the proximity to Silicon Valley to generate healthy returns.
Investor Bill Ackman Pitched To Move Tesla's HQ To Howard Hughes Community
The hedge-fund boss asked Musk to consider three of Howard Hughes' communities for Tesla's new base. Musk threatened to move Tesla out of California this month after officials ordered him not to reopen the electric-car maker's factory due to local lockdown measures.
U.S. Lawmaker Calls For Ouster Of CalPERS CIO Over China Ties
A U.S. Republican lawmaker urged California to fire the chief investment officer of its public pension fund, the nation’s largest, citing what he called the CIO’s “long and cozy” relationship with Beijing, and assailed the fund’s investments in Chinese companies.
CalPERS To Decide On Fate Of Current Investment Consultant Contracts
The investment committee of CalPERS plans to make a decision on whether to retain Wilshire Associates as its general investment consultant and Meketa Investment Group as its private equity consultant, real estate consultant, and infrastructure consultant.
Why $4.5B From Big Tech Won’t End California Housing Crisis
Efforts by Apple, Facebook and Google to address the California housing crunch must contend with the forces that created it.