The $202 billion Kuwait Investment Authority (KIA) is ready to sell its 24.6 per cent stake in domestic telecommunications company Zain and is awaiting attractive offers from bidders as it seeks liquidity to finance the nation’s budget.
The full board of administration and the executives of CalPERS are conducting a three-day offsite, entitled Defining Our Future Now, which includes a number of closed sessions regarding chief executive and chief investment officer performance and employment matters, in addition to open forums on a number of strategic investment decisions.
A battle has broken out between investors and suppliers over the regulation of hedge fund and private equity managers, with opposing testimony given to the US Senate by the country’s largest pension fund, the $180.9 billion CalPERS, and a US-based venture capital firm. In this “Have Your Say” column we ask you whether you agree
Aabar Investments, an investment company backed by an Abu Dhabi sovereign wealth fund, has become the first external investor in commercial space carrier Virgin Galactic, buying a 32 per cent stake for $280 million.
The alpha from active funds management was a massive -1.2 per cent before fees for US funds in 2008, a figure eight times below the average of 15 bps over 18 years, according to research by CEM Benchmarking.
Institutional investors should be looking to garner alpha from income-generating investments, rather than growth, as the “new normal” dictates that return expectations will be equal to about nominal GDP, according to managing director, Pimco, Paul McCulley.
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