Pension Pulse

Josh Welsh of Benefits and Pensions Monitor reports Maple Eight fund sells electricity stake to Australian investor: The Future Fund Board of Guardians (FFBG), Australia’s sovereign wealth fund, has acquired a 9.995 per cent equity interest in Transgrid, marking a notable move into energy infrastructure alongside Ontario-based pension giant OMERS, according to a press release issued by OMERS.  While the the transaction has now closed, the terms of the deal remain confidential. Following the deal, OMERS will retain its existing 9.995 per cent direct interest while also managing the new Future Fund stake under its asset management platform. ...

Andrew Barry of Barron's reports Berkshire cuts stake in BofA, eliminates Citigroup: Berkshire Hathaway eliminated its equity stake in Citigroup and reduced its large holding in Bank of America while adding to its investment in Constellation Brands, according to a 13-F report with the Securities and Exchange Commission late Thursday. Berkshire sold 14.6 million shares of Citigroup and cut its holding in Bank of America by 48.6 million shares to 631 million shares, while roughly doubling its stake in Constellation Brands to 12 million shares. Berkshire also requested confidentiality with the Securities and Exchange Commission for one or more equity holdings that it omitted from the 13-F report. This likely reflected a desire by CEO Warren Buffett, who oversees Berkshire’s equity portfolio, to continue accumulating one or more holdings without tipping off investors and potentially driving up the stock price. Berkshire requested confidentiality when it was accumulating its st...