The Big Picture

NOVEMBER 8, 2022

I was having lunch with Jeremy in the summer of 2007, just after the Bear Stearns hedge fund started blowing up. I think the Americans going to be grateful that they didn’t do that much building in the last few years because otherwise, we would really have a replay of 2007 and ’08.

Financing 57

Financing Finance Banks Hedge Funds 57

The Big Picture

MAY 9, 2023

So what I mean by that is, first, understand the duration of your funding source. Pension funds have quite long-dated capital. So first, understand the duration of that funding source. And then the second is, understand the return requirement of that funding source. That’s what I mean by liabilities.

Liabilities 117

Liabilities Assets Banks Hedge Funds 117

Pension Pulse

JUNE 18, 2024

Wiseman and Ambachtsheer were on a panel alongside inaugural Ontario Teachers’ Pension Plan CEO Claude and CPP Investments current CEO John Graham, speaking about the origins and much-revered tenets of the Canadian system that are admired by pension funds around the world. And we were an incredibly entrepreneurial organisation.”

Pension Funds 64

Pension Funds Hedge Funds Assets Asset Management 64

Pension Pulse

OCTOBER 2, 2023

Jennifer L of Carbon Credits reports Ontario Teachers’ Pension Plan buys majority stake in KKR’s Australian carbon project developer: A Canadian pension fund Ontario Teachers’ Pension Plan (OTPP) has agreed to acquire KKR’s stake in a leading Australian carbon markets platform GreenCollar. since 2007.

Stakes 59

Stakes Pension Funds Shareholders Assets 59

Pension Pulse

OCTOBER 17, 2024

Over the summer, multiple associations representing OMERS members wrote to the government urging it to review governance at the $133-billion pension fund, which invests on behalf of more than 626,000 Ontario public service workers.

Pension Funds 59

Pension Funds Consultants Consulting Liabilities 59

Pension Pulse

JULY 4, 2023

The company is still in talks with its shareholders about raising as much as £1 billion in fresh funds following a £500 million injection agreed last year. Its largest shareholder is Canadian pension fund Ontario Municipal Employees Retirement System (Omers), which holds a nearly 32 per cent stake. billion in Canadian funds.

Pension Funds 52

Pension Funds Debt Shareholders Stakes 52

Pension Pulse

JULY 18, 2023

Business Wire reports that Norway's sovereign fund tops global transparency ranking: TORONTO — Norway’s sovereign wealth fund, Government Pension Fund Global, has topped the list of the most transparent funds according to the Global Pension Transparency Benchmark’s 2023 findings.

Pension Funds 52

Pension Funds Funds Banks Assets 52

Pension Pulse

MAY 8, 2023

No pension fund wants to invest in private companies that abuse immigrant children. Schwarzman to come to Montreal, I'd personally ask him to donate $250 million to McGill University to fund the Charles Taylor Center for the Humanities. In 2007, Taylor won the $1.5M Mr. Taylor’s previous honors include the 2015 John W.

Due Diligence 52

Due Diligence Pension Funds Education Funds 52

Pension Pulse

MARCH 21, 2024

pension fund. The guy is great opportunistic real estate investor but a ruthless real estate shark, and he made off like a bandit leaving PSP in 2007 and joining John Grayken's prestigious Lone Star Funds where he's still working as President, Commercial Real Estate Funds (his net worth is now in the hundreds of millions).

Assets 59

Assets Pension Funds Capital Debt 59

Pension Pulse

AUGUST 18, 2023

In Treasuries, yield on the 10-year pulled back from Thursday’s levels that were approaching the highest since 2007. streak that long has only been seen in recessions that started in 1973 and 2007 pic.twitter.com/ThjCW8yQy5 — Liz Ann Sonders (@LizAnnSonders) August 18, 2023 Where's the recession? UK and German bonds advanced.

Hedge Funds 52

Hedge Funds Funds Asset Management Assets 52

Pension Pulse

SEPTEMBER 12, 2023

At C$146 billion, equivalent to a quarter of the entire C$575 billion pension fund for some 21 million Canadians and forecast to grow bigger every year, Kim leads a program that is also heading into unchartered territory. Most were on the fund's private equity team and were informed early last month, according to two of the people.

Portfolios 69

Portfolios Pension Funds Due Diligence Investing 69

Pension Pulse

APRIL 9, 2024

Big pension funds invest in big student housing programs because they're recession-proof businesses that add defensive cashflows to their portfolio. That's obviously important, but there's a defensive component to purpose-built student accommodation that pension funds very attractive. What about Canada?

Pension Funds 59

Pension Funds Education Leveraging Assets 59

The Big Picture

AUGUST 15, 2023

Are most people better off in an index fund than playing with an active manager, be it mutual fund or high fee hedge funds? SEIDES: John Yeah, I said back then, the bet started in 2007 and I say today, being in the market and investing in hedge funds is completely apples and oranges. This is the summer of 2007.

Hedge Funds 52

Hedge Funds Funds Capital Assets 52

Pension Pulse

MAY 19, 2023

Below, a sample of the funds I track closely: 1) Alberta Investment Management Corporation (AIMco) 2) Ontario Teachers' Pension Plan 3) Canada Pension Plan Investment Board 4) Caisse de dépôt et placement du Québec 5) OMERS Administration Corp. 24) Norges Bank 25) Nordea Investment Management 26) Korea Investment Corp.

Hedge Funds 52

Hedge Funds Funds Asset Management Capital 52

Pension Pulse

JANUARY 22, 2024

The pension fund manager had quietly tried to sell LifeLabs in previous processes and failed to find a buyer, according to two of the sources. OMERS began building its diagnostics business in 2007 when its infrastructure arm acquired MDS Diagnostic Services for $1.33-billion billion in 2007 from Toronto-based firm MDS Inc.

Stakes 52

Stakes Investing Bidding Assets 52

Pension Pulse

MAY 9, 2024

CAAT's successful management and investment strategy allows the Plan to continue to offer its conditional inflation protection enhancements to at least 2027, in accordance with the Plan's Funding Policy. CAAT has granted conditional inflation protection enhancements since its introduction in 2007.

Returns 59

Returns Assets Funds Pension Funds 59

Pension Pulse

OCTOBER 20, 2023

The statement, sent exclusively to the National Post , marks the first time Poilievre has explicitly addressed the issue of Alberta’s proposal to withdraw from the Canada Pension Plan (CPP) and set up its own pension fund. That gives people the go-ahead to take rates above 5%.”

Investing 59

Investing Consultants Consulting Debt 59

The Big Picture

APRIL 4, 2023

So a very different dynamic than we saw back in 2007, 2008, 2009. pension funds, and sovereign wealth funds, and internationally, investors. Yes, there’s a lot of liquidity in private equity. But there’s also a lot of liquidity in private credit to be able to finance those transactions.

Private Equity Firms 57

Private Equity Firms Private Equity Firms Banks Financing 57

The Big Picture

MARCH 12, 2024

So we, we do business with most of the sovereign wealth funds, most of the big US national insurers, global insurers, the largest pension funds. So we we’re partners with the state of Texas, the actual state of Texas, not one of the pension funds, but the state itself. So it’s very long dated capital.

Hedge Funds 57

Hedge Funds Banks Assets Capital 57

The Big Picture

FEBRUARY 20, 2024

00:07:47 [Speaker Changed] So, so after, you know, more than 20 years at Goldman, you joined the New York Fed in 2007, overseeing domestic and foreign exchange trading operations, 2007, that, that’s some timing. Well, I had about I seven months of calm and then chaos started in August of 2007.

Banks 57

Banks Stock Market Stock Market Legal 57

The Big Picture

JUNE 20, 2023

In 2007, firms extracted — the private equity firms extracted $20 billion from companies in the form of dividend recapitalizations. Pension funds, perhaps, maybe aren’t growing as much as they need them to. MORGENSON: It can be collateralized loan obligations, now it’s big private debt. RITHOLTZ: Wow.

Private Equity Firms 57

Private Equity Firms Private Equity Firms Financing Finance 57

Pension Pulse

OCTOBER 21, 2024

Yields on 10-year Treasuries most recently traded at 5% last October, hitting their highest level since 2007 as fears of a prolonged period of high interest rates gripped markets. I doubt it as long as inflation expectations keep dropping and employment decelerates further but you never know.

Pension Funds 59

Pension Funds Financing Finance Debt 59

The Big Picture

APRIL 11, 2023

And as you well know, in 2007, accountants fixed what I thought was a horrendous mistake — RITHOLTZ: Right. DAMODARAN: Or it could be some unique characteristic, pension funds pay no taxes. They were older, you know, companies that were over the hill in terms of their business models. RITHOLTZ: Right.

Education 117

Education Financing Finance Taxes 117