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Stephen Dowd joined the Ontario Teachers’ Pension Plan after a career in banking. As head of an C$8.7bn portfolio dedicated to investing directly in infrastructure, he chatted with Chris Glynn about that enviable and distinctly Canadian innovation: managing a public pension like a private business.
The Swiss private markets group warns that excessive liquidity created by central banks has driven prices up – especially for auction-based cored infrastructure – as investors are ‘forced to hunt for yield’ in a low interest rate environment.
The two firms have mutually agreed to end exclusive negotiations on buying three parts of Deutsche Bank Asset Management's business put up for sale and focus solely on a possible sale of the bank’s global alternative asset management business, which includes real estate and infrastructure.
The Ontario Teachers’ Pension Plan said infrastructure generated a 7.7% gain last year. The pension fund grew its asset base to a staggering $117bn.
The Sydney-based bank is one of at least three firms vying to buy the businesses of Deutsche Bank Asset Management, which include RREEF Real Estate and RREEF Infrastructure. Second round bids are due next week.
Reports this morning say Deutsche Bank has launched the sale of a large chunk of its Global Asset Management business, which includes its real estate, infrastructure and private equity platform.
In addition to hiring a partner in Boston, the Merrill private placement spin-out has added six professionals to its team recently.
As the infrastructure asset class matures, two quite different types of investment are emerging. Former Allianz Capital Partners chief executive Thomas Putter explains why an understanding of this is so crucial
CalSTRS’ investment committee unanimously approved a policy change that allows the $140bn California pension to allocate more capital to private infrastructure investments.
The $140bn California pension presented its investment committee with a new policy that gives greater preference to private investments and emphasises OECD markets. Director of Investment Management John Petzold said the policies will give CalSTRS ‘a more clear and focused way’ to invest in the asset class.

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