BlackRock NY

BlackRock Rehired for Texas Permanent School Fund’s Massive Passive Mandate

BlackRock does quite a bit of business with the Texas Permanent School Fund (TPSF). The Austin-based institutional investor had a separate account mandate with BlackRock to oversee a passive international developed markets and emerging markets equity strategy that started back in 2004. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe […]

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NYC Comptroller to Seek Majority Board Reset at Wells Fargo

New York City Comptroller Scott M. Stringer, who oversees a number of New York pension funds, plans to oppose the reelection of 10 out of the 15 board directors regarding Wells Fargo. The move would seek to oust Wells Fargo’s non-executive chairman Stephen W. Sanger. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers […]

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ATP Involved in Mega Hotel Project in Benelux

Danish institutional investor ATP and AXA Investment Managers formed a 50:50 joint venture to acquire a massive hotel project in Amsterdam, located in the main business district of Zuidas. The project aims to be the largest hotel, measured by the number of rooms, in the Benelux region. [ Content protected for Sovereign Wealth Fund Institute […]

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Neptune Oil & Gas Plots with CIC on Engie Deal

French utility Engie, formerly known as GDF Suez, is in the midst of potentially large transaction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Permodalan Nasional Backs Merger Between SP Setia And I&P Group

Malaysian investment giant Permodalan Nasional Berhad (PNB) is moving forward on plans to merge both of its property investments, SP Setia Berhad and I&P Group Sdn Berhad, a township developer. At the moment, SP Setia and I&P Group have 5,218 acres and 4,263 acres of undeveloped land respectively in the Klang Valley, Johor Baru, Penang […]

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SWFI First Read, April 23, 2017

Schroders to Buy Adveq In a bid to diversify into the lucrative world of alternative investments, Schroders PLC, a FTSE 100 investment management company, made its move to buy Adveq Holding AG (Adveq), a specialist private equity business. Adveq was founded in Zurich in 1997. Bruno E. Raschle, Executive Chairman of the Board of Directors […]

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NZ Super Fund Stumbles in Wind Turbine Investment Ogin, Writes Off

The New Zealand Superannuation Fund (NZ Super), which made a pivot toward green energy investments in the past few years, has experienced a loss. NZ Super’s investment in Ogin, a U.S. wind turbine company, is being completely written off as Ogin is being wound down. Ogin, formerly known as FloDesign, had sold its wind turbine […]

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  • NYC Comptroller to Seek Majority Board Reset at Wells Fargo

    New York City Comptroller Scott M. Stringer, who oversees a number of New York pension funds, plans to oppose...
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    SWFI® RESEARCH, ARTICLES AND INDUSTRY NEWS

    SF Retirement System Drops Securities Lending For Now

    The San Francisco City & County Employees’ Retirement System (SFERS) is closing down its securities lending program, after a recommendation from the organization’s board of directors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    REVERSE: Mubadala Capital to Manage Money for Ardian

    Ardian, a European alternative investment management company, is buying the majority position in a US$ 2.5 billion pool of private equity interests owned by Mubadala Capital, a sovereign wealth enterprise (SWE) of Mubadala. Ardian is investing US$ 1.75 billion for that pool. The transaction was completed on March 31, 2017. Mubadala Capital will continue to […]


    Goldman Sachs AM Hit by $35 Billion in 1Q Net Outflows from Liquid Strategies

    According to March-end figures, Goldman Sachs reported US$ 1.373 trillion in assets under management from both Goldman Sachs Asset Management and the firm’s wealth management businesses. Net outflows for the quarter totaled US$ 30 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    Virtu Financial to Acquire KCG, Backing from Wealth Fund Capital

    High-speed trading firm Virtu Financial, Inc. signed a definitive agreement to acquire its rival KCG Holdings, Inc. in a cash transaction valued at US$ 20 per KCG share, or a total of approximately US$ 1.4 billion. Both the board of directors of Virtu Financial and KCG agreed to the transaction. Jefferies LLC, the largest shareholder […]


    Macquarie to Acquire Green Investment Bank

    A Macquarie-led consortium, comprising Macquarie Group Limited, Macquarie European Infrastructure Fund 5 (MEIF5) and Universities Superannuation Scheme (USS), has agreed to acquire the Green Investment Bank plc (GIB) from the U.K. government for £2.3 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    Deutsche Bank M&A Executive Tom Cooper Exits

    Since 2008, Deutsche Bank has struggled to get its investment banking division to where it used to be, losing to peers when it comes to generating substantial investment banking fees. Without fees and a shaky capital position, Deutsche Bank bled out high-profile bankers in the past two years. Deutsche Bank’s co-chairman of global mergers and […]


    Sovereign Funds Went Big in the Final Quarter of 2016

    Despite a succession of political shockwaves, sovereign wealth funds went back to plowing money into direct investments in the fourth quarter of 2016, investing US$ 60.31 billion versus US$ 30.43 billion in 4Q 2015, according to data from the Sovereign Wealth Fund Institute (SWFI). The SWFI transaction database tracks direct transactions made by sovereign funds, […]


    Mubadala Exits Out of Exova

    Abu Dhabi-based Mubadala was part of a group of investors that owned a large stake in Edinburgh-based Exova Group plc, a lab testing company with heavy reliance on the oil sector. Element Materials Technology Group Limited (Element Materials), which is majority-controlled by private equity firm Bridgepoint, agreed to acquire Exova in a £620.3 million deal, […]


    BlackRock Reaches $5.42 Trillion AUM

    BlackRock reported net income of US$ 862 million, while reaching US$ 5.42 trillion in assets under management at March 31, 2017. iShares continue to be a key driver of net inflows for BlackRock, US$ 64.5 billion of the US$ 80 billion in net inflows were from this segment. Of those iShares ETFs, there were equity […]


    $3.39 Trillion Allocated to Equities by Sovereign Funds in 2016

    The Sovereign Wealth Fund Institute (SWFI) research team estimates that at the end of 2016, US$ 3.39 trillion was being allocated to the listed equity asset class, an increase from 2015. There was also slightly increased asset allocation percentages in private equity, real estate and infrastructure, with fixed income facing a pullback. Sovereign fund allocation […]


    london

    Former PIFSS Director General to be Extradited Back to Kuwait Over Corruption Charges

    The former executive (Director General), Fahad al-Rajaan, of Kuwait’s Public Institution for Social Security (PIFSS) has been arrested by U.K. authorities. Fahad al-Rajaan had been convicted and charged of corruption and embezzling public money in Kuwait when he was leading PIFSS. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to […]


    SWFI First Read, April 18, 2017

    Norway Sovereign Fund Supports Credit Suisse on Executive Compensation Norges Bank Investment Management (NBIM), the manager of Norway’s sovereign wealth fund, plans to vote in favor of Credit Suisse’s planned payouts to senior managers, according to a fund statement. NBIM agreed and welcomed the statement made by Credit Suisse’s board of directors on April 13, […]


    Plans for Saudi Public Investment Fund to Inherit Airports and Other Aviation Assets

    As part of the massive privatization efforts by the Saudi Arabian government, the Riyadh-based Saudi Civil Aviation Authority plans to turn a number of airports into companies to improve accountability and transparency. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    A Swedish Sovereign Fund or Swedish Debt Fund?

    Unlike its oil rich neighbor Norway, Sweden does not have a sovereign wealth fund. However, the Swedes have a series of buffer funds. Sweden is in between Norway and Finland when it comes to government debt to GDP ratios. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. […]


    Korean Shipbuilder Gets a Lifeline for Now

    Daewoo Shipbuilding & Marine Engineering Co., a mega South Korean shipbuilder, that provides some 50,000 jobs, has about 14.4 trillion KRW in debt and 224.3 billion KRW in cash as of December 2016. The shipbuilder has financially struggled over a series of years. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please […]


    Sino IC Capital Inks Deal to Acquire Xcerra Corporation

    Norwood, Massachusetts-based Xcerra Corporation is being acquired by Unic Capital Management Co., Ltd., an affiliate of Sino IC Capital for roughly US$ 578 million. The deal was signed on April 7, 2017. Unic Capital is buying all the outstanding shares of Xcerra for US$ 10.25 per share in cash. The deal values Xcerra’s equity at […]


    australia infrastructure

    First State Super and Others Enter in Land Title Deal with NSW

    In a ground breaking deal, First State Super, Hastings Funds Management and other investors have agreed to pay A$ 2.6 billion to manage New South Wales state’s land registry, Land and Property Information (LPI), for 35 years. This unique transaction permits the investor group to levy fees for property ownership registrations in New South Wales […]


    BRICS New Development Bank Contemplates Ruble Bonds

    The New Development Bank (NDB), formerly referred to as the BRICS Development Bank, is looking at its next round of projects for 2017. Headquartered in Shanghai, the bank is another multilateral finance and investment institution that touts members such as Brazil, Russia, India, China and South Africa (dubbed BRICS). [ Content protected for Sovereign Wealth […]


    KWAP Invests in Penang Coast Township Development

    Kumpulan Wang Persaraan (KWAP) has acquired an ownership stake in a township development along Penang’s northeastern coast and also acquired an ownership interest in Eastern & Oriental Berhad, the developer of the project that is listed. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    SWFI First Read, April 16, 2017

    Starwood Capital Group to Acquire Forestar Group Affiliates of Starwood Capital Group inked a deal to buy Austin-based Forestar Group Inc. for US$ 605 million in equity value. Forestar Group is a residential and mixed-use real estate development company – owning around 4,600 acres of real estate across 10 states in the U.S. Forestar Group […]


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