chicago

Chicago Treasurer: Investment Firms Overcharging Chicago Pensions By $50 Million

Chicago’s new Treasurer, Kurt Summers, said last week that he believes investment firms are overcharging the city’s pension funds to the tune of $50 million annually. Summers says firms are levying higher fees on the city’s smaller pension funds than on the larger funds, for the same work. From DNA Info: Since taking office in December, Summers ...
Roadwork

Benchmarks, Transparency Could Bring More Pension Funds to Infrastructure, Says Group

The European Association of Paritarian Institutions (AEIP) last week called for greater transparency and more performance data in the infrastructure sector. These changes, according to the AEIP, could help attract more pension funds to the sector. From Investments and Pensions Europe: Infrastructure markets need to be more transparent, with greater ...
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Canada Pensions Team With Spanish Bank on Energy Investment

Two Canadian pension funds – the Ontario Teachers’ Pension Plan Board and the Public Sector Pension Investment Board – have teamed up with Spanish bank Banco Santandar S.A. to manage a $2 billion portfolio of renewable energy assets. From the Financial Post: Santandar, which already owned the portfolio, will transfer it to a new company owned ...
chicago

Chicago Treasurer Considers Using Pension Money To Make Direct Investments in Local Black Communities

Newly appointed Chicago Treasurer Kurt Summers last month announced his plans to invest portions of the city’s pension money locally. Last week, he met with some local business owners and residents and talked further about his ideas, which include making direct investments in Chicago’s predominately black neighborhoods. Heard by Progress Illinois: Summers ...
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Illinois Teacher’s Pension CIO Talks Investing in Hedge Funds, Reaction to CalPERS’ Pullout

Stan Rupnik, CIO of the Teachers’ Retirement System of Illinois, sat down with Chief Investment Officer magazine for an extended interview this week. He talks about how he increased the fund’s exposure to hedge funds and how he reacted to CalPERS’ high-profile decision to pull out of hedge funds. Rupnik on how he increased TRS’ exposure ...
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Canada Pension Eyes Corporate India

The Canada Pension Plan Investment Board (CPPIB) – the entity that manages assets for Canada’s biggest pension plan – has made a flurry of investments in India-based corporations over the past few years. And the flow of pension money to India isn’t likely to slow down – the country is a “key” part of CPPIB’s long-term plan, according ...
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New York Common Fund Commits $200 Million to Urban Real Estate

The New York Common Retirement Fund has committed $200 million to a fund that invests in real estate in New York City, Los Angeles and other urban areas. More from IPE Real Estate: The fund has backed CIM Group’s Fund VIII, which is targeting established US urban areas. The fund invests in New York City, San Francisco and Los Angeles, focusing on ...
Roadwork

Lessons In Infrastructure Investing From Canada’s Pensions

Canada’s pension plans were among the first in the world to invest in infrastructure, and they remain the most prominent investors in the asset class. Are there any lessons to be learned from Canada when it comes to infrastructure investing? Georg Inderst, Principal of Inderst Advisory, thinks so. In a recent paper in the Rotman International Journal ...
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