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The Daily Brief

February 21, 2012

A monster news day in the land of the Giants:

Western Australia will in fact create a new sovereign fund.
But here’s a case against a new Australian SWF (and, while they're at it, the existing Future Fund).
Texas Teachers' takes a $250 million equity stake in Bridgewater.
Sailing Capital International -- a new $8B Chinese fund -- will help Chinese companies "venture out".
Norway debates lowering return expectation for SWF to 3 from 4%...while US pensions fight over move to 7 from 8.5%. Crazy.
Khazana continues to invest in domestic and foreign sustainable energy projects and companies.
The QIA apparently paid half a billion dollars for Credit Suisse's headquarters.
Oman's SWF boosts holdings in Dubai Mercantile.
Dutch pensions are struggling with the liability side of the equation. (Their assets are doing fine.)
Here’s an interesting take-down of Alex Salmond's idea for a Scottish SWF (and for Scottish independence).
Hillary Clinton is still using the Santiago Principles (which govern SWF transparency) as a model for other sectors. (I wonder if she’s read this.)
AIMCo CEO: "I'm not sure I'd want to buy the Athens airport, but it's that sort of asset that is becoming available"
Here's the transcript of speech I gave a few months back at a conference in KL on 'New Rules for Institutional Investors.'

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