Pension Pulse

Carly Wanna and Carmen Reinicke of Bloomberg report hedge funds pump up exposure to Nvidia, cut AMD: Hedge funds continued to lean into the biggest technology companies leading the way in artificial intelligence as the hype propelled the US stock market higher in the first quarter of the year. These institutional investors saw Nvidia Corp. exposure grow, with the AI darling having the biggest increase by market value for a single stock in the three months ending March 31 even as hedge funds on net sold shares. They also saw increased exposure in AI leaders Amazon.com Inc, Meta Platforms Inc. and Microsoft Corp. while trimming positions, according to Bloomberg’s analysis of data from 13F filings. Among individual hedge funds, Warren Buffett’s Berkshire Hathaway Inc. revealed a stake in insurer Chubb Ltd. Shares of Chubb rose as much as 11% in premarket trading on Thursday, putting the stock on track for its biggest rise since November 2008. Meanwhile, Nvidia shares edged hig

Razak Musah Baba of IPE Real Assets reports Vantage Data Centers EMEA to expand with €750m from Ares, CDPQ and Schroders: Vantage Data Centers is expanding its EMEA platform with €750m financing from Ares Management, Caisse de depot et placement du Quebec (CDPQ) and Schroders Capital. Ares’s infrastructure debt and alternative credit strategies and CDPQ are providing up to €300m each, together with a €150m contribution from Schroders Capital in financing, alongside incremental equity to help Vantage grow its EMEA data centre portfolio . At present, the Vantage EMEA portfolio comprises 14 campuses, serving key markets in Europe and South Africa. Once fully developed, the portfolio aims to generate 751MW of combined IT capacity. Roopa Murthy, head of Ares infrastructure debt Europe, said: “We are pleased to support Vantage in their next stage of growth, delivering mission-critical digital infrastructure across EMEA in a sector experiencing significant demand.” Eli Appelbaum, co-head