Global

Global investment house Goldman Sachs Asset Management (GSAM) has appointed Gary Black as managing director, responsible for US institutional and third party businesses.

A leading pensions lawyer is hoping to lodge a class action over the compulsory purchase of annuities by women in the UK.

CalPERS, the $152bn California Public Employees' Retirement System, has formed a joint venture with Sunrise Assisted Living and AEW Capital Management to buy and operate seven assisted living residences for senior citizens.

SEI Investments has won a mandate to manage the North Dakota Retirement and Investment Office's (NDRIO) entire $280m US small cap equity portfolio.

Pierre de Weck, CEO of UBS Capital, UBS' private equity business, will leave the firm at the end of July to pursue other interests.

The special characteristics of property investments make it worth considering as a powerful alternative investment for UK pension funds, according to Merrill Lynch Investment Managers (MLIM).

The UK IPO market is at an all time low and came to a virtual stop at the beginning of the year, according to KPMG Corporate Finance.

The law on UK pension surplus ownership will come under review in the autumn.

The Confederation of British Industry (CBI) has joined environment lobbyist group Friends of the Earth to warn about the FTSE4Good index, which was launched yesterday.

The $12.7bn Teachers Retirement System of Louisiana (TRSL) has awarded five managers a total of $1.1bn in fixed income mandates.