INCLUDING: NETHERLANDS - Aviva subsidiary buys Cyrte Investments, FRANCE - SGAM launches art fund KOREA - New Forsyth Partners' deal, UK - Consultants agree pay out
NETHERLANDS - Aviva subsidiary buys Cyrte Investments
Delta Lloyd, the Dutch subsidiary of Aviva, is to acquire Cyrte Investments, which manages two funds focusing on areas such as media and technology.
Dutch Pension Fund PGGM committed €500m to the first fund earlier this year and Delta Lloyd Group’s initial contribution to the fund will be €150m.
FRANCE – SGAM launches art fund
SGAM Alternative Investments has launched an art investment fund with a targeted return of 15-20% over eight years.
The fund will use private equity techniques within a network of auction houses and dealers and art consultants.
KOREA – New Forsyth Partners’ deal
Korea Development Bank Asset Management Company has signed a deal to invest US$10.35m into Forsyth Partners’ fund of hedge funds.
Previous deals between the two saw $25m form part of two Korean pension funds and a life insurance company portfolio, in 2005 and 2006.
UK - Consultants agree pay out
Driver Group PLC said it would pay £450,230 (US$896,619) to former subsidiary Baker Wilkins & Smith’s pension scheme which is being wound up.
Together the parties are set to contribute £550,000 (US$1.1m) as part of the liabilities settlement.
Railways Pension Trustee Company chief executive Phil Willcock has quit the scheme after only 10 months to take up a position as head of AIG UK Life.
The Financial Conduct Authority (FCA) has launched a consultation on how to enable defined contribution (DC) savers to invest in patient capital via unit-linked funds.
The Pension Protection Fund has published its final levy rules for 2019/20 following a consultation launched in September.
The Competition and Markets Authority's (CMA) final report on the investment consultant market has been celebrated as having "real teeth" to produce better outcomes for members.