US - Former General Manager of the Los Angeles City Employees Retirement System (LACERS), Robert Aguallo, has joined the Cardinal Americas Fund as managing partner.
Aguallo, who managed LACERS US$12bn assets for 5 years, said: "After surveying my options, I quickly realised that infrastructure development represents the best new market opportunity for future investment growth."
Aguallo has also been chief operating officer for investment operations at the California Public Employees Retirement System (CalPERS), board director on the California Association of Public Retirement Systems (CALAPRS) and LACERS general manager for five years.
The Pension Protection Fund (PPF) is consulting on proposals to charge a "risk reflective" levy for commercial defined benefit (DB) consolidation vehicles.
The funding gap across FTSE 350 schemes could be slashed by as much as £275bn if schemes look beyond traditional ways of creating value. Victoria Ticha examines how
There will be "many flavours" of defined benefit (DB) consolidators but consolidation will only be the right answer for a minority of schemes, Alan Rubenstein says.
Work and Pensions Committee (WPC) chairman Frank Field has questioned the regulator on what lessons it can learn from the experience of the Kodak Pension Plan No.2 (KPP2).