US - Michigan governor Jennifer M. Granholm plans to invest US$300m of Michigan's state pension fund in Michigan-based companies, it was announced last week.
"These investments in Michigan-based companies, in turn, will grow our pension funds. Invest Michigan! is a program that will put Michigan money to work building Michigan's economic future."
Ganhold added Invest Michigan! would be managed by three professional investment companies with successful track records in the industry.
A business leadership council, composed of Michigan business leaders chaired by Roger Penske, would help the fund achieve success by sourcing, mentoring, monitoring, and giving input into investments in areas of their expertise, she concluded.
For a full analysis, please refer to the upcoming weekly edition of Global Pensions.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.