On April 7, 2021, Norges Bank Investment Management (NBIM), manager of Norway Government Pension Fund Global, made its first unlisted renewable infrastructure investment by purchasing a 50 percent interest in the Borssele 1 & 2 offshore wind farm located in the Netherlands. Europe is a major player in offshore wind power. The price for the [...]
Employees' Retirement System of the State of Hawaii Focused On Portfolio Efficiency | CIO Elizabeth Burton | Q&A
Elizabeth Burton is the chief investment officer at the Employees' Retirement System of the State of Hawaii ("HIERS"), a $20 billion pension investment fund. In this interview, she emphasized the importance of attracting and retaining investment talent while being on an island; why the plan has adopted a more conservative investment approach; and how they're laser-focused on running an efficient system.
The U.S. largest public pension system seems to be stepping back from an ambitious overhaul of its private equity strategy outlined several years ago, even as it plows more capital into the asset class.
The National Pension Service of Korea (NPS) acquired a stake in private equity firm BC Partners from another shareholder. The Blackstone Group also picked up an ownership stake in BC Partners. Korea's NPS is looking for more overseas co-investment opportunities with private equity firms that have long-track records. Korea's NPS has been a limited partner [...]
Population ageing reduces labour supply and burdens pension systems. At the same time, delaying the statutory retirement age may have an impact on firms' productivity and risks crowding out younger workers. This column exploits an unexpected pension reform in Italy in 2012 which sharply increased the full retirement age for workers aged 55 or above to show that such concerns may not be warranted. A rise in employment of older workers led to an increase in value added while holding labour costs constant. Employment in other age classes also increased.
Summary List PlacementCannabis tech has become one of the hottest areas of the nascent industry, because it gives major venture capital firms an opportunity to bet on the spread of legalization in the US and around the globe. The latest example of the sector's appeal comes from Dutchie, a cannabis e-commerce startup. On Tuesday, Dutchie closed a $200 million Series C funding round led by Tiger Global. The round includes top Silicon Valley funds like DFJ Growth and Dragoneer, as well as Josh Kushner's Thrive Capital, rapper Snoop Dogg's Casa Verde Capital, and former Starbucks CEO Howard Schultz.
Pension Consultant Sees Growing Interest in Portfolio Completion Strategies Using REITs Kyle Gustafson Mar. 8 2021 Teaser While some real estate sectors are facing headwinds, other property types--such as data centers, self-storage, and life science assets--are benefitting from strong demand tailwinds. Content Matt Ritter, senior research consultant for NEPC, joined guest host Meredith Despins, Nareit senior vice president, investment affairs, for a special edition of The REIT Report podcast to discuss how REIT-based investment can deliver access to a 21st century real estate portfolio. NEPC is an independent investment consultant and private wealth advisor.
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.
Over the past year, the healthcare sector has come under unprecedented strain as a result of the COVID-19 global pandemic. Among LPs, healthcare system investors were the closest to the front lines of the pandemic. At the institutions they serve, budgets were stretched, staff redeployed, and pension plans revisited. Meanwhile, a volatile global economy with an uncertain outlook presented healthcare investment teams with serious challenges—and new potential opportunities. These CIOs led their teams through 2020 with seasoned leadership and a steady hand.
New York City Comptroller Scott Stringer is looking to loosen strict rules that govern private-equity firms managing the city's pensions -- a potentially risky policy switch that he claims will improve returns, The Post has learned. Specifically, Stringer -- a Democrat running for mayor in this year's election -- is urging trustees of the city's...