Institutional asset owners who have signed the UN Principles of Responsible Investing were told they must make the effort to help pioneer a sustainable economy, in an address from David Blood, co-founder with Al Gore of Generation Investment Management.
In the headiness of the bull market, institutional investors generally took on more risk and enjoyed fewer rewards than alternatives managers. But the crisis has provided an opportunity for both counterparties to redefine the balance in the LP/GP relationship, in which institutions are entitled to demand a true alignment of interests on returns, lock-ups and
Bond markets might be offering comparable returns to equities and a higher place in the capital structure, but they should be approached cautiously as they lack what institutions around the world are trying to maintain – liquidity.
Leo de Bever, one of the key decision-makers in a co-investment deal to buy almost half of Birmingham International Airport and now CEO of AIMCo, tells Simon Mumme about the future scope and necessary resources, relationships and disciplines required for co-investment deals.
The A$28billion (US$20 billion) AustralianSuper terminated several mandates with active equities managers last week and directed most of the freed-up capital to passive exposures bringing its passive management in equities to more than 50 per cent, in an effort to simplify its portfolio by trimming excess managers.
Investors must recognise that the economic world has changed and not expect normal asset price reversion in the future, says Carl Hess, Watson Wyatt’s global head of investment consulting.
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