Pension Pulse

Valerie Jones of Rigzone reports, Williams, CPPIB to Form $3.8B Shale Gas JV : Williams and Canada Pension Plan Investment Board (CPPIB) have entered into an agreement to create a $3.8 billion joint venture which will expand CPPIB’s exposure in the North American natural gas market. CPPIB will invest $1.34 billion into the joint venture, which will give it 35 percent ownership. The joint venture will include Williams’ owned Ohio Valley Midstream system and its newly fully-owned Utica East Ohio (UEO) Midstream system . “This joint venture will provide CPPIB additional exposure to the attractive North American natural gas market, aligning with our growing focus on energy transition,” Avik Dey, managing director, Head of Energy and Resources for CPPIB,” said in a company statement. “The joint venture complements our recent investment in Encino Acquisition Partners, an anchor customer on UEO and other Williams gathering assets. Through these unique operations in highly attractive ...

PSP Investments put out a press release yesterday, Unibail-Rodamco-Westfield forms partnership with PSP Investments and QuadReal for a €750Mn (£670Mn) Private Rented Sector scheme in London : Unibail-Rodamco-Westfield announces today that it has signed a conditional agreement with a wholly owned subsidiary of the Canadian public pension fund the “Public Sector Pension Investment Board” (PSP Investments) and global real estate company QuadReal Property Group (QuadReal), to form the “Cherry Park Partnership”. The Partnership will deliver the development and management of a €750Mn (£670Mn) Private Rented Sector (PRS) residential scheme, adjacent to Westfield Stratford City in London. It will be one of London’s largest single-site PRS schemes. PSP Investments and QuadReal will each take a 37.5% share in the Cherry Park Partnership, while Unibail-Rodamco-Westfield will retain a 25% share and be appointed as the development and asset manager . Olivier Bossard, Group Chief Developmen...

Elizabeth Bauer wrote a comment for Forbes, 'Go North, Young Man,' To The Wisconsin Public Pension System : To parapharase Horace Greeley in his Manifest Destiny exhortation, but for those seeking out well-funded public pension plans, it's time to go north -- northwards from Illinois, that is, to the greener pastures of the Wisconsin Retirement System. Let's start with some charts:  first, the funded ratio.  (This and the following charts come from data extracted from PublicPlansData.org , which includes the years 2001 through 2017, as well as the Wisconsin 2017 actuarial report .  For Illinois, the three major public plans for with the state bears funding responsibility are combined and, where applicable, weighted averages calculated; for Wisconsin, the WRS already includes the three categories of state employees, teachers, and university employees, as well as most municipal employees except for those of Milwaukee city and county.) Yes, that's correct....

Fred Imbert of CNBC reports, Dow rises more than 100 points, S&P 500 posts best weekly gain since November : Stocks posted strong weekly gains, led by tech shares, as investors cheered renewed optimism on the U.S.-China trade front on Friday. The Dow Jones Industrial Average climbed 138.93 points to 25,848.87 as Boeing shares turned around to close 1.5 percent higher. Boeing’s turnaround was sparked by a report saying the company planned to roll out a software upgrade for its 737 Max aircraft. The stock had been under pressure all week after an Ethiopian Airlines flight using a 737 Max plane crashed on Sunday, which prompted several countries to ground flights involving the plane. Gains in the tech and consumer discretionary sectors pushed the S&P 500 up 0.5 percent to 2,822.48. Tech shares also bolstered the Nasdaq Composite, which climbed 0.8 percent to 7,688.53 . The S&P 500 and Nasdaq Composite both rose at least 2.9 percent, though the laggard Dow gained on...