Boustead Projects Partners with Gulf Sovereign Wealth Fund

Singapore-based Boustead Singapore Limited, through its subsidiary, Boustead Projects Pte Ltd, has formed a co-investment partnership with a sovereign wealth fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Threadneedle and Eastspring Investments Hire New Executives Across Asia

Eastspring Investments Japan has selected Tsukasa Sekizaki as its new president and CEO. Sekizaki will start in mid-September as he replaces Koji Wada. Eastspring Investments has been making a concentrated effort to grow sales in a number of markets. Previously, Sekizaki was president and CEO of Deutsche Asset Management (Japan). Seoul Office – Threadneedle Investments [...]

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How Zimbabwe Will Try to Restore Stability to the Financial Sector

Zimbabwe, a country with no currency, is struggling to keep its financial sector afloat. After battling hyperinflation, the U.S. dollar and South Africa rand are the most commonly-used currencies in the African nation. Zimbabwean banks were loose with lending capital to local businesses after the country began heavily adopting foreign currency as tender.[ Content protected [...]

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South Korean Retirement Assets Set to Rise

The South Korean government is planning to mandate Korean companies to enroll employees in private retirement plans by 2022. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Alabama Trust Fund Hires 4 Active Managers, Terminates 2

The US$ 2.8 billion Alabama Trust Fund has hired four investment managers to run an active international equity strategy. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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MainePERS Commits Up to 160 Million to PE Funds and Ag Vehicle

The US$ 12.6 billion Maine Public Employees’ Retirement System (MainePERS) has made three new commitments that total up to US$ 160 million. MainePERS committed up to US$ 50 million to H.I.G. Bayside Loan Opportunity Fund IV, a distressed debt fund managed by Miami-based H.I.G. Capital. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers [...]

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SWFI® NEWS, ARTICLES AND CURRENT ENTRIES

Direct Institutional Investors: Why Sovereign Wealth Funds and Pensions are Important

Source: Sovereign Wealth Fund Transaction Database – August 2014 Note: SWFs make up a near majority in this analysis. The Sovereign Wealth Fund Institute (SWFI) tracks direct public asset owner investment flows. Public asset owners are becoming bigger players in the capital markets. Increasingly, public asset owners are increasing assets, investing more directly, hiring more [...]


Singapore Sovereign Wealth Centers on Asian Music Streamer

Singapore’s GIC Private Limited has invested US$ 104 million in an Asian provider of music streaming services. Founded in 2004 by Taiwanese software programmers, KKBOX has access to consumer markets in Taiwan, Japan, Hong Kong, Singapore, Malaysia and Thailand. Other key shareholders in KKBOX include: Japanese telecommunication firm KDDI Corporation, Taiwan-based smartphone maker HTC Corporation [...]


BIG WIN: LaSalle Gets UK Real Estate Mandate From Manchester Pension

More and more public pensions and U.S.-based sovereign funds are outsourcing U.K. real estate management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Sovereign Wealth Funds and Russia

Russia’s NWF to Provide Capital to VTB Bank and Rosselkhozbank

Western sanctions have negatively affected Russia’s financial system. By denying Russian banks access to Western capital markets, Russia’s large banks and companies have had to pursue other avenues for capital needs. The Russian government has approved injecting 239 billion roubles (US$ 6.6 billion) in two state-owned banks. Both banks will issue preferred shares to Russia’s [...]


BIG DEAL: Singapore Sovereign Wealth Fund Poised for Square Investment

Twitter co-founder Jack Dorsey’s current venture Square is looking to raise capital at a US$ 6 billion valuation. San Francisco-based Square, a mobile payments company, is trying to revolutionize the world of credit card payments by turning smart phones into a credit card terminal. Founded in 2009, Square was valued at US$ 5 billion earlier [...]


BNRI, Riverstone Funds and Temasek Back Origo Exploration

Private equity firm Riverstone Holdings LLC, through its funds, Barclays Natural Resource Investments (BNRI) and Singapore’s Temasek Holdings are three cornerstone investors in Stavanger–based Origo Exploration AS. BNRI focuses exclusively on natural resources. Origo is an exploration and production (E&P) company focusing its efforts in the UK and Norway. [ Content protected for Sovereign Wealth [...]


SMIC Raises Capital from Datang and CIC

Shanghai-based Semiconductor Manufacturing International Corporation (SMIC) is raising capital from investors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI – Movers and Shakers – August 25, 2014

Jim Murray Joins Vector Capital Jim Murray has been hired by San Francisco-based Vector Capital as chief financial officer. Before, he spent 14 years at Blum Capital as chief administrative officer and chief financial officer. Kirkpatrick Named Secretary of CFTC Christopher J. Kirkpatrick has been appointed Secretary of the U.S. Commodity Futures Trading Commission (CFTC). [...]


Take Two: GIC Bids for $1.6 Billion Tokyo Office Tower

Singapore’s sovereign wealth fund, GIC Private Limited, is in key negotiations to acquire a prized Tokyo office tower for approximately 170 billion yen (US$ 1.6 billion). Built in 2001, the 32-story Pacific Century Place Marunouchi is being sold by Secured Capital Investment Management Co., Ltd., part of Asian private equity firm PAG. The property lies [...]


Ireland

China Ireland Technology Growth Capital Fund Invests in FieldAware

Dublin-based FieldAware, a startup technology firm the creates and sells mobile applications, has received investment from a sovereign wealth fund through a joint venture fund. In addition, two more similar capital raises are slated for announcement in the coming weeks. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view [...]


2 Trends That Will Shake the Asset Management Industry

2013 and 2014 have been positive years for the asset management industry, as asset growth resumes, mostly contributed by market appreciation. In addition, on average, asset management firms have maintained operating margins at pre-crisis levels. Large U.S. banks, like Wells Fargo, are channeling company resources more toward institutional and wealth money management. 1. Investment Managers [...]


Bulgarian National Bank Wants Rescue Plan By End of August

Bulgarian National Bank, the central bank of Bulgaria, demanded the two largest shareholders of Corporate Commercial Bank (Corpbank) to develop plans for a bank rescue by the end of August. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Friday SWFI News Roundup, August 22, 2014

Panama’s Sovereign Wealth Fund Looks to Hire Panama’s FAP is looking to hire external fund managers as it prepares mandates in fixed income and equities. The FAP has a dual mandate to stabilize the fiscal budget and build integenerational savings. View Panama’s SWF Profile and Asset Allocation JP Morgan Attempts to Reach Upper Echelon in [...]


Caisse de Depot et Placement du Quebec to Establish Singapore Office

The Caisse de Depot et Placement du Quebec has hired Edouard Merette as managing director for the Asia-Pacific region. This is a new position and Merette will start on October 1, 2014. Previously, Merette served as CEO of Aon Hewitt Asia-Pacific. The Caisse de Depot et Placement du Quebec will also open offices in Washington [...]


JMI Equity Attracts Public Funds, Raises $1 Billion for Fund VIII

Baltimore-based JMI Equity, a private firm focusing on software, internet, business services and healthcare tech, raised US$ 1 billion for JMI Equity Fund VIII, L.P. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Sovereign Wealth Funds Could Own a Significant Piece of Shutterfly

Redwood City-based Shutterfly Inc., a photo sharing website, has received a number of buyout offers from private equity firms. Second round bidders include Hellman & Friedman LLC, Silver Lake Partners LP and Bain Capital LLC. These private equity funds have attracted sovereign wealth funds and pensions as fund investors. Often times, these large institutional investors [...]


EMERGING: 59 Chinese Companies Back National Private Investment Company

A significant development in privatization efforts has occurred in Shanghai, in which an official national private investment company has raised a sizable amount of capital. The Chinese regulator approved the registration of the investment company on March 24, 2014. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. [...]


RBC Global AM, Threadneedle, RWC Announce New Institutional Hires

Clive Brown has been appointed CEO and managing director of RBC Global Asset Management International. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Khazanah Sells Islamic Bonds to Take Malaysian Airlines Private

Malaysia’s Khazanah Nasional sold 1.5 billion ringgit (US $476 million) of Islamic bonds to help cover the sovereign wealth fund’s full acquisition of Malaysian Airlines. Khazanah priced the 5-year bond to yield 4.14%. Debt is being issued by one of its sovereign wealth enterprise, Rantau Abang Capital Berhad. Khazanah is hoping to delist the national [...]


SEC Rules That Timbervest Must Pay Disgorgement Payments

On September 24, 2013, Atlanta-based Timbervest, LLC got hit with an order instituting administrative and cease-and-desist proceedings from the Securities and Exchange Commission (SEC). Timbervest manages around US$ 1.2 billion in timber-related investments, with a majority of clients being institutional investors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to [...]


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