Precision Strategies, the self-described “integrated strategy and marketing agency” co-founded by Mr. Biden’s campaign manager and incoming deputy White House chief of staff, Jennifer O’Malley Dillon, was retained starting in August to do public relations work by the American Investment Council, a lobbying group representing private equity firms.One of the most prominent of these firms is SKDK, which provides communications and fund-raising advice to corporate, political and foreign clients, including the Biden campaign, a super PAC started by the former New York City Mayor Michael R. Bloomberg, and an Israeli spyware firm. (SKDK has registered under lobby laws in the past, but it says that was for public affairs consulting and that it does not lobby.) Others well positioned to profit in the Biden era include the lobbying firm owned by Jeff Ricchetti, the brother of Mr. Biden’s campaign chairman and incoming White House counselor, Steve Ricchetti, and a firm co-founded by Jeffrey Peck, who worked on the Senate Judiciary Committee under Mr. Biden and served as treasurer of the Biden Foundation.Mr. Peck deregistered as a lobbyist early this year, but the firm that bears his name continues to do a brisk lobbying business, adding clients like the International Franchise Association in the months before the election.The Biden administration is also expected to generate new business for firms with connections to Mr. Biden or his team that help clients get their way in Washington without formally registering to lobby — including WestExec Advisors and Albright Stonebridge Group, as well as Beacon Global Strategies. Beacon Global, which has represented Raytheon and Citi among other clients, was co-founded by Jeremy Bash, a former Obama Defense Department official who has worked closely with Mr. Biden’s newly named White House chief of staff, Ron Klain.- Advertisement – – Advertisement – Ms. Podesta, who runs a lobbying firm with dozens of corporate clients, including Apple and Yelp, said she had seen a surge in interest in her Democratic-leaning firm, signing up new clients in recent weeks in advance of an expected Biden win. “The real shift will come in December,” she said. “It takes a while for Fortune 500 companies to make these decisions.”- Advertisement –
The co-founder of Forum Partners said Australia was “probably as far advanced as anyone” in addressing the problem.The Australian model of Super funds is largely DC and active in both the real estate and infrastructure market.Platt said there were ways of tackling the problems that stemmed from requirements to revalue property holdings on a daily basis, and also that the use of real estate securities could offer ways of allowing for limited liquidity required by some DC investors.“The Australians have come to a very common-sense view,” he added. “Even if we have to allow for daily liquidity and portfolio changes among our underlying superannuants, not everyone is going to move from one side of the ship to the other at the same time.”He said many investors would instead take on a limited amount of implied liquidity and either create an internal trading market or invest instead in real estate securities.“That kind of approach, certainly from the largest players in the industry, is what we will see adopted more broadly,” he said.“Australians view real estate securities not as an add-on or the icing on the cake, which is typical of perhaps Americans and Western Europeans, where REITs aren’t as entrenched. Rather they view it as the foundation of a real estate portfolio.“The world is probably going to move more in that direction, and in that sense, again, Europe is playing catch-up.“Finding ways to crack this, there is not going to be any single solution, but a series of product innovations. It’s probably the most exciting edge of the real estate industry, as far as I’m concerned, finding ways to deliver liquid alternatives.”Property holdings by DC fund are not unheard of outside of the UK, and the National Employment Savings Trust has considered the use of REITs as a way of providing it access to the real estate market – both domestically and globally. The property industry is only just beginning to consider how defined contribution (DC) funds could invest in real estate, but must find ways to deliver liquid alternatives, according to the chief executive of Forum Partners.Russell Platt said the innovation needed to allow for such investments would be exciting, but that Europe was “playing catch-up” compared with the more advanced Australian superannuation market.Speaking at a La Française Asset Management event – less than a year after Forum and the French manager agreed a strategic partnership that saw La Française acquire a 24.9% stake – Platt identified the shift from defined benefit pension funds to DC as one of the biggest challenges facing his industry.“People now are just beginning to turn their attention to it, and it’s not easy – particularly if you want to provide lower-volatility direct real estate and equity assets into a defined contribution plan,” he said.
He believes the players he has at his disposal are made of the right stuff. They take on De La Salle Waterford in the semi-finals of the prestigious provincial competition in Bansha tomorrow afternoon.If they can get through the class of 2015/16 will hope to add to the Tipperary school’s sole victory in 1978.Tom Byrnes is manager of the team.
Zlatan Ibrahimović has not yet confirmed that he will continue his career in Manchester United, but no one doubts that anymore. Even his agent Mino Raiola announced that next season Ibrahimović will try to take revenge on Guardiola with whom he bears a grudge since the time he was in Barcelona.“Pep has a Ferrari, and he drove it as if it was a Fiat,” Zlatan described his adventure in Barcelona.“He wants to revenge on Guardiola, although he does not live for that. It seems like that is his destiny. There are options for him to go to the Premier League, but we will not say anything while Sweden is in EURO,” Raiola said and added that Zlatan finds Pep a good coach, while he is a bad man in Raiola’s opinion.(Source: nap.ba/photo: nap.ba)