INCLUDING: NETHERLANDS - PGGM appointment; UK - Grant Thornton private equity warning; US - CalSTRS seeks consultant; IRELAND - NPRF awards mandate to Principal
Dutch pension fund PGGM has appointed Fons Lute as managing director, alternatives strategies.
Previously, Fons Lute was CIO of the Blue Sky Group. He is also a member of the executive board of Eumedion.
Following the appointment of Johan van der Ende as CIO last June, PGGM appointed Jaap van Dam as MD portfolio construction and Bob Rädecker as MD beta portfolios from its own ranks. Jacques Kragt is fulfilling the role of MD fundamental strategies on an interim basis.
UK - Grant Thornton private equity warning
Pension scheme adviser Grant Thornton is urging private equity firms to re-examine the historic actions of their portfolio companies and carefully consider their future actions, as the Pensions Regulator makes a new push on the adequacy on companies' pension provisions.
Last July, Simon Walker, chief executive of the British Venture Capital Association (BVCA) told Global Pensions increased powers of the Pension Regulator were going to be a deterrent to the acquisition of companies with defined benefit (DB) schemes (www.globalpensions.com; 18/07/08).
US - CalSTRS seeks consultant
CalSTRS is seeking a consulting organisation to develop and implement a number of process and policies in the accounting, strategic planning, risk and quality assurance areas.
Further sectors involved are recruitment, retention, skills assessments and training. The contractor will collaborate with the CalSTRS' accounting division and executive management team.
The contract estimated value is not provided yet but will run for two and a half years, with a one-year option. The bidding deadline is 8 September 2008.
NPRF awards mandate to Principal
The Irish National Pensions Reserve Fund (NPRF) has awarded €200m (US$289.6m) global emerging markets equity mandate to Principal Global Investors (Principal).
The mandate will be managed by Mike Reynal, head of emerging markets equities at Principal.
Principal said recent appointments in the UK include a £125m (US$222.6m) Global Equities mandate from a large UK pension scheme.
Asset managers failing to 'fulfil purpose'; Industry needs focus on systemic risk and a 'do no harm' Hippocratic Oath for practitioners
The asset management industry is failing to fulfil its purpose because of an overreliance on modern portfolio theory, which has not evolved to meet current challenges, latest research claims.
The Brunel Pension Partnership has become the fourth local authority pool to receive the green light from the regulator.
Defined benefit (DB) schemes are to be offered a new consolidator as the former chief of the Pension Protection Fund (PPF) launches 'The Pension SuperFund'.
Martin Freeman has been hired as head of technology product and development at Smart Pension, to support the 'growing' technology product side of the business.