Joseph Dear, former executive director of the Washington State Investment Board, will take the reins of the pension’s $178bn in assets following the departure of Russell Read last June. Interim CIO Anne Sausboll was recently bumped up to CEO.
2 min read · 21 January 2013
A survey conducted at PEI Media’s annual CFO and COO Forum in New York also revealed that one in 10 firms have recently experienced a defaulting limited partner.
1 min read · 21 January 2013
Joseph Dear, former executive director of the Washington State Investment Board, will become CIO of the US' largest public pension plan following the departure of Russell Read last June. The hire puts an end to speculation that the CIO role would be filled by Carlyle venture veteran Bob Grady.
2 min read · 21 January 2013
President and chief executive of Allianz Real Estate Olivier Piani says it is the ‘best time’ to be growing a global organisation. The insurance company expects to grow its allocation to RE to 6% 'and maybe more', with up to a third focused on the US and Asia respectively.
2 min read · 21 January 2013
The $63.9bn US pension fund said it was planning to pull back on a proposed $150m commitment to Morgan Stanley’s $10bn global fund, blaming declining property prices and increasing debt opportunities. The fund is also looking to withhold a $100m planned commitment to an AEW open-ended fund.
2 min read · 21 January 2013
Three industry titans vie for one prestigious PERE award. Have you cast your vote? Polls close on 3 February for the third annual PERE Global Awards and competition is fierce. Will MGPA or GIC take the Asian firm of the year award. Will Niam/Goldman Sachs beat competition from AIG for European exit of the year?
2 min read · 21 January 2013
David Swensen, chief investment officer of Yale’s $17bn endowment, said efforts to emulate Yale’s investment strategy would fail if other institutions use consultants and funds of funds to make investment decisions, instead of hiring a team of in-house professionals, according to a report.
2 min read · 21 January 2013
Final voting has started for the third annual Global PERE Awards. Will Blackstone retain its title as global firm of the year or will MGPA, LaSalle, Carlyle or Lone Star steal its thunder. Who will clinch the title for global industry figure of the year – Jim Quille, John Gray, Michael Pralle, John Grayken or Neel Kashkari? Only you can decide.
2 min read · 21 January 2013
The $35bn United Nations Joint Staff Pension Fund will start investing in funds of hedge funds and private equity. It will also expand its real estate portfolio, currently valued at around $1.8bn, to include infrastructure, agricultural land and timberland.
1 min read · 21 January 2013
London & Stamford, the Aim-listed property investment company founded by British market veterans Raymond Mould and Patrick Vaughan, has exchanged contracts on its first purchase since the pair floated the company more than a year ago.
1 min read · 21 January 2013
