Sovereign Wealth Fund Institute

Park Alpha, the consulting division of the Sovereign Wealth Fund Institute, has released a briefing on the Outsourced Chief Investment Officer (OCIO) model. Essentially, the outsourced chief investment officer (OCIO) model permits the advisory firm to manage the client portfolio on a discretionary basis – allowing the firm to make changes (with prescribed limits) in [...]

LondonMetric Property Plc is a real estate investment trust (REIT) that was created from a merger between Metric Property Investments Plc and London & Stamford Property Plc. The UK-based REIT is in discussions to sell £275 million in distribution warehouses across England to the €2.4 billion joint venture managed by Prologis and backed by Norges [...]

Doha Global Investment Co., the investment company partially-backed by Qatar Holding LLC, has postponed their initial public offering on the Qatar Exchange to a new date. The investment company plans to manage $12 billion in assets, in which $3 billion of assets will be transferred from Qatar Holding into the new entity. The new vehicle [...]

State-owned China Galaxy Securities Co., Ltd. is mainland China’s sixth largest brokerage company by revenue. Capital market conditions seemed to have improved since 2012, and the company desires to grow their margin financing business. China Galaxy Securities is backed by Central Huijin Investment Ltd., a sovereign wealth enterprise (SWE) of the China Investment Corporation (CIC). [...]

The mega-sized sovereign wealth funds have the characteristic of lower cost of capital compared to small to mid-sized pensions and private investors. The China Investment Corporation (CIC) purchased the Winchester House located in London for £245 million. It was their first direct real estate investment in the London. [Content protected for Sovereign Wealth Fund Institute [...]

Increasingly, sovereign wealth funds are embracing direct investing. Elephantine, aged public funds are the type of institutional investors that partake in these investment activities. Direct investors usually have massive amounts of capital that need to be put to work. On May 8, 2013, OMERS Private Equity, the private equity arm of the Ontario Municipal Employees’ [...]

The U.S. inflation-linked bond sector has experienced major outflows since the start of 2013. Treasury Inflation Protected Securities also called Tips performed well in recent years. With regard to Tips, there is concern that real yields can increase along with nominal bond yields without inflation growing. The theory behind inflation-linked bonds is to allow investors [...]

The first quarter results for 2013 on sovereign wealth fund transparency have now been released to the public. Click on the index image to increase size. Read more Linaburg-Maduell Transparency Index

The North Carolina State Senate has given approval to modify the composition of alternative investments with regard to the state retirement system’s portfolio. The bill passed by a wide margin in the senate, it now heads to North Carolina’s House of Representatives. Current law stipulates the US$ 78.1 billion pension fund can invest up to [...]

Houston-based BMC Software has signed a definitive agreement to be acquired by a private investor group led by Bain Capital Partners, LLC and Golden Gate Private Equity, Inc. Other members of the group include GIC Special Investments Pte Ltd and Insight Venture Management, LLC. Elliott Management, a hedge fund that owns 9.6% of BMC common [...]

This is an interview between Michael Maduell, President of the Sovereign Wealth Fund Institute and Vijoy Chattergy, CIO of the Employees’ Retirement System of the State of Hawai’i at the Institute Fund Summit 2013 Americas in Dana Point, California.

Ireland’s National Asset Management Agency (NAMA) has sold a portfolio of Irish commercial property loans to a new joint venture. The joint venture is 80% owned by a consortium of private investors led by Starwood Capital Group and the rest by NAMA. Other consortium members include Key Capital Real Estate and Catalyst Capital. The loan [...]

According to the press release, “Canada Pension Plan Investment Board (CPPIB) announced today it has formed a new 50%/50% joint venture with Hammerson to acquire a 33.3% stake in Bullring Shopping Centre for £307 million from the Future Fund. The ownership of Bullring is now held 50% by Hammerson (this 16.7% isin addition to its [...]

Singapore’s Temasek Holdings is positioned to purchase a stake worth around US$ 500 million in Markit Group Limited. Temasek’s potential stake would reduce the banks’ stake. Founded in 2001 by Lance Uggla and a group of executives, Markit is a data provider based in the United Kingdom. Among other products and services like trade processing, [...]

According to the press release, “The California Public Employees’ Retirement System (CalPERS) has selected Invesco Real Estate as a new manager for its Multifamily Real Estate Program. The partnership, named Institutional Core Multifamily Investors, will invest in multifamily properties, focused in the western US region. “Invesco Real Estate’s extensive experience and proven track record in [...]

This is an interview between Michael Maduell, President of the Sovereign Wealth Fund Institute and Sean Glodek, a director at the Russian Direct Investment Fund (RDIF) at the Institute Fund Summit 2013 Americas in Dana Point, California.

The Federal Reserve’s balance sheet has mushroomed more than US$ 3.3 trillion. During the last week of April at the Federal Open Markets Committee, the Federal Reserve maintained their US$ 85 billion a month asset purchasing program with conditions. Interest rates remain at historic lows to accommodate a loose monetary policy. According to the May [...]

Norway’s Government Pension Fund Global (GPFG), the largest sovereign wealth fund in Europe, wishes mainland China to open up their domestic capital markets to foreign institutional investors. Several mega sovereign wealth funds have stepped up allocation to Chinese public equities. China’s State Administration of Foreign Exchange (SAFE) has taken steps to accommodate sovereign fund investors [...]

This is an interview between Michael Maduell, President of the Sovereign Wealth Fund Institute and California State Treasurer Bill Lockyer at the Institute Fund Summit 2013 Americas in Dana Point, California.

The Government of Singapore Investment Corporation (GIC) is preparing the sale of Glencore Guaranteed Convertible Bonds worth US$ 250 million. Due in 2014, the 5% convertible bonds were issued by Glencore Finance. Singapore’s GIC plans to use the sales proceeds to purchase ordinary shares of Glencore International. Singapore’s GIC was an early investor in Glencore’s [...]