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It even has an "outsourced chief investment officer" segment to handle defined benefit pensionfunds for clients. Because of the complexity of underwriting business risk insurance, companies will go through brokers like Marsh & McLennan to advise them on what kind of insurance they need and to bid it out to various underwriters.
PLI said that the sale will see the “vast expertise” of the French operator brought to bear on the Irish operation, while nothing will change in terms of how the lottery itself raises funding, given the lottery itself will remain in Irish State ownership. A deal to sell PLI had been well flagged since the beginning of the year.
But what’s even more relevant, he says, is that with $88 billion now invested in a province with a GDP of nearly $500 billion, “the Caisse is the pensionfund that is the most invested, in the world, in its local economy.” More than ever, Canada’s largest pensionfunds are being pressed to play the same role in the rest of the country.
Silas Brown and Kat Hidalgo of Bloomberg report Florida pension to offload up to $4 billion of private credit: The Florida State Board of Administration is looking to sell a bundle of private credit stakes worth as much as $4 billion in what would be one of the largest deals of its kind, according to people with knowledge of the matter.
In private credit, tightening credit conditions resulting from a handful of bank failures and rescues in the United States have opened up opportunities for non-bank players like pensionfunds, he said. The original investments were made between 2012 and 2014. That’s one of the things that keeps us up at night,” Graham said.
Anyway, let me get on to covering this week in pensions. First, Shahir Gindo wrote a special to the Globe and Mail on why Canadian pensionsfunds should invest more in domestic assets to boost the economy. I want to confront the topical complaint that pensionfunds allocate something like 4% of our capital to domestic stocks.
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