The Daily Brief

Ashby Monk

Your daily briefage:

  • Nigeria is looking at a $75 fixed oil benchmark over the next four years to boost the assets under management of its new sovereign fund.
  • Bumi Resources is prepaying CIC’s $600 million loan. All in, the CIC was earning 19% (!) … which is no doubt why Bumi was keen to prepay.
  • Since early 2011, SOFAZ’ assets have grown by 42% to $32.2 billion. Yes. You read that right: forty two percent in 9 months!
  • The Russian Direct Investment Fund has 20 projects it is actively considering worth a total of about $5 billion.
  • The Alberta Investment Management Corp. rejects Viterra’s “vague” corporate governance plans. Note: AIMCo owns 17% of Canada’s largest grain company, so this is kind of a big deal.
  • I was interested to see that the Illinois Teachers’ Retirement System now has $725 million in alternative investments.

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This website is a project of Professor Gordon L. Clark and Dr. Ashby Monk of the School of Geography and the Environment at the University of Oxford. Their research on sovereign wealth funds is funded by the Leverhulme Trust and The Rotman International Centre for Pension Management.

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