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Article Excerpt
ABP
HEERLEN, Netherlands - Stichting Pensioenfonds ABP invested $60 million in a sustainable timberland fund managed by Global Solidarity Fund International, spokesman Thijs Steger confirmed. It is the e208.9 billion ($288 billion) pension fund's first investment into timberland.
The timberland fund consists of five investments in Mozambique and Angola that focus on reforestation of degraded land and management of natural forests.
"The longer-term goal is to have more exposure to timberland, but we cannot say by when and by how much, as it will depend on the investment opportunities in this area,'' Mr. Steger said in an e-mail.
Information on how the strategy was funded was not available at press time.
Baron Funds
NEW YORK - Baron Funds hired State Street Corp. to provide global custody, fund accounting and fund administration services for $18 billion in U.S. mutual fund assets, confirmed Baron Funds Treasurer and CFO Peggy Wong.
Ms. Wong declined to name the incumbent custodian but said accounting and administration had been handled internally.
BUSS (Queensland)
BRISBANE - BUSS (Queensland) Pty. Ltd. allocated A$10 million (US$8.76 million) to Contango Asset Management's microcap fund.
"It's a sector of the market where we are seeing more value-add from managers than in the large-cap space,'' said David O'Sullivan, chief executive of the A$1.5 billion superannuation fund.
The superannuation fund also recently hired Lazard Asset Management for a A$35 million emerging markets mandate, replacing Lloyd George Asset Management following the departures of three senior staff members. As reported by Investment & Technology, Sydney.
CalPERS
SACRAMENTO, Calif. - The $247.1 billion California Public Employees' Retirement System committed nearly $1 billion to four private equity funds in April, according to data posted on the fund's website. The fund committed $400 million each to the Apollo Special Opportunities Managed Account and Silver...
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