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☆ SSE to sell stake in transmission network business for $1.78 bln
▼ + stars: | 2022-11-25 | by ( Hadeel Al Sayegh | ) www.reuters.com time to read: +1 min

Nov 25 (Reuters) - British power generator and network operator SSE (SSE.L) said on Friday it had reached an agreement to sell a 25% stake in its power transmission network business to Ontario Teachers' Pension Plan Board for 1.47 billion pounds ($1.78 billion). The business, SSEN Transmission – which operates under its licensed entity – Scottish Hydro Electric Transmission plc, will be chaired by SSE's finance director, Gregor Alexander, and Ontario Teachers' will get a proportional representation on the board. The stake sale process is expected to commence in early 2023. Power companies in Britain have been hit by the government's plans to increase a windfall tax to 35% from its current rate of 25% and extend it to power generation firms in an effort to raise tens of billions of pounds to plug a major hole in public finances. ($1 = 0.8258 pounds)Reporting by Radhika Anilkumar in Bengaluru; editing by Uttaresh.V and Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ 'We're going to dream a little less': Sequoia's Doug Leone on fallout from FTX's collapse
▼ + stars: | 2022-11-18 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Doug Leone, managing partner at Sequoia Capital LLC, speaks during the Bridge Forum conference in San Francisco, California, U.S., on Wednesday, April 17, 2019. The event brings together leaders in finance and technology from Asia and Silicon Valley to connect and share insights. HELSINKI, Finland — Billionaire venture capitalist Doug Leone said there wasn't much his firm Sequoia Capital could do to predict the solvency crisis at FTX. Without mentioning FTX by name — though strongly hinting at it ("I'm not going to mention any acronyms") — Leone, Sequoia's global managing partner, said Sequoia had done "careful due diligence" on FTX. Sequoia was one of numerous blue-chip funds that backed FTX before its demise.

☆ Ontario Teacher's pension fund to write down investments of $95 mln in FTX
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: 1 min

Nov 17 (Reuters) - Canada's Ontario Teachers' Pension Plan said on Thursday it will be writing down about $95 million of investments it had made in bankrupt cryptocurrency exchange FTX Group by the end of the year. Reporting by Leroy Leo in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Canada's largest pension fund CPPIB among the investors indirectly hit by FTX blowup
▼ + stars: | 2022-11-15 | by ( Danielle Walker | ) www.businessinsider.com time to read: +4 min

The Canada Pension Plan Investment Board had an indirect exposure to FTX through a Sequoia private-equity fund it was invested in. Ontario Teachers' Pension Plan said last week that it had invested a total of $95 million in FTX International and its US entity since October 2021. The Canada Pension Plan Investment Board, one of the world's largest pension funds, can be counted among the investors now impacted, either directly or indirectly, by the blowup of crypto exchange FTX. Toronto-based CPPIB has an indirect exposure to FTX through its investment in a Sequoia Capital private-equity fund. Sequoia's other impacted fund, SCGE Fund, L.P. had $63.5 million invested in FTX and FTX US, according to the firm's letter to clients.

☆ Attabotics raises $71 million as startups vie with Amazon over robotic warehouse of the future
▼ + stars: | 2022-11-15 | by ( Ian Thomas | ) www.cnbc.com time to read: +2 min

Attabotics' all-in-one automated fulfillment system is condensed into a single vertical structure, using robotic shuttles to pick goods and then deliver to workers. Attabotics, a 3-D robotics supply chain company, has raised $71.7 million in new funding to continue its push into automatizing warehouses. The raise comes amid the push to further optimize shipping fulfillment and warehouse technology as e-commerce continues to grow. Amazon has steadily added to its fleet of warehouse robots since it acquired Kiva Systems for $775 million in 2012, which has now become Amazon Robotics, the company's in-house incubator of robotic fulfillment systems. In June, Amazon unveiled its first fully autonomous robot that can operate alongside warehouse workers, in addition to other systems that can sort and move packages.

☆ After FTX's collapse, VCs across industries are finally admitting to crypto's failures — and they're preparing for 'more blows to come'
▼ + stars: | 2022-11-14 | by ( April Joyner | ) www.businessinsider.com time to read: +8 min

Investors stuck to crypto startups they considered "safe bets," but FTX's failure challenges that idea. Crypto startups held yacht parties through the summer and into early fall at events such as NFT.NYC and Messari Mainnet. "The whole crypto space is a high-leverage space, and it's susceptible to cascading failures." The events of the past week are unlikely to whet risk-averse LPs' appetite for crypto, investors told Insider. Even so, several investors who have backed crypto startups told Insider that despite the industry's recent travails, they remain believers in the technology.

☆ Canada's PSP fund to double issuance of long-term green bonds
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +1 min

TORONTO, Nov 10 (Reuters) - Canada’s Public Sector Pension Investment Board (PSP Investments) aims to more than double the C$1 billion ($749 million) value of sustainable bond issuance by 2026, an official at the pension fund told Reuters on Thursday. The pension scheme, which manages C$230.5 billion in assets, issued its first-ever green bond in February this year as part of its goal to reach net-zero emissions. Several other pensions including Ontario Teachers' Pension Plan (OTPP), Caisse de dépôt et placement du Québec and the Canada Pension Plan Investment Board (CPPIB), have also issued green bonds. Neither OTPP, CPPIB nor Caisse have set targets for green bond issuance. PSP, Canada's fifth-largest pension investment manager, also increased its exposure to green assets by C$6.12 billion to C$46.5 billion in 2022, it said in a report released on Thursday.

NAIROBI, Nov 8 (Reuters) - A labour court on Tuesday ordered pilots at Kenya Airways (KQNA.NR) to resume work by Wednesday, seeking to end a strike that has left thousands of passengers stranded at one of Africa's most important aviation hubs. On Tuesday, a labour and employment court judge ordered the pilots to resume their duties "unconditionally" at 6 a.m. local time (0300 GMT) on Wednesday. Kenya Airways welcomed the court's directions, and said it would comply. [1/2] Kenya Airways pilots attend a court session after the association's management was summoned for contempt of a court order declaring as illegal the ongoing strike of Kenya Airways pilots, organised by KALPA, at the Milimani Law Courts, in Nairobi, Kenya, November 8, 2022. Financial turmoil at Kenya Airways preceded the pandemic.

☆ Texas Teachers' Pension to cut China target allocation
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +1 min

Oct 14 (Reuters) - The $184 billion Texas Teachers' pension fund is set to settle on a new emerging markets stock benchmark, a move that will cut its exposure to Chinese stocks by half. Teacher Retirement System (TRS) of Texas received an approval in September to move to a new benchmark which has a proportionate mix of two MSCI emerging markets indexes - one with and one without China. China represented a 35.4% weight in the MSCI Emerging Markets Index. Under the new proposal, the fund's exposure to China through the MSCI emerging market indices would fall to 17.7%, according to the document. Register now for FREE unlimited access to Reuters.com RegisterReporting by Akriti Sharma in Bengaluru; editing by David EvansOur Standards: The Thomson Reuters Trust Principles.

☆ As families and 'Parrotheads' flock to campgrounds and RV parks, institutional real-estate investors see their next big score
▼ + stars: | 2022-05-23 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +13 min

Investors are eyeing profits in campgrounds and RV parks as Americans flock to the great outdoors. Camp Margaritaville RV Resort and Cabana Cabins Auburndale, Central FloridaThe trend is also driven by demographics. Sam Zell's Equity Lifestyle Properties, another large REIT that invests in RV parks alongside mobile homes, has also been busy. While it's not clear how much big investors have thrown into RV campgrounds, manufactured housing communities as a whole have seen a burst of Wall Street financing. After looking hard at multifamily and industrial, he settled with RV parks.

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