Sovereign Wealth Fund Institute

Yangon is benefitting from ambitious reform as foreign capital flows toward gas production and other investments. Myanmar’s international reserves mark an upward trajectory as foreign direct investment puts a hush on the shrinking current account deficit for the time being. The Association of Southeast Asian Nations (ASEAN) region has a composed population greater than 600 [...]

South Africa’s Public Investment Corporation (PIC) acquired a 1.5% stake in Dangote Cement Plc. The deal was worth about US$ 289.3 million. Dangote Cement is the biggest listed company in Nigeria. As the Johannesburg Exchange’s largest institutional investor, the PIC is keen on expanding investments within Africa. This is not the first transaction for the [...]

This interview will appear in the 2Q Y2013 (July 2013) issue of the Sovereign Wealth Quarterly. This is a Q&A with Neil Irwin, Author of The Alchemists. 1. What major theme would you like readers to draw from your latest book, The Alchemists: Three Central Bankers and a World on Fire? To understand our modern [...]

The massive CityCenterDC is an eight-acre mixed-use development in downtown Washington, near the old Washington Convention Center. A few blocks east of the White House, the US$ 700 million first phase of the project secured some financing from Qatari Diar, a real estate subsidiary of the Qatar Investment Authority. Financing of the development project was [...]

Emerging from past conflict, the post-colonial nation of Timor-Leste is ushering in a new era to nurture economic vitality. During the nation’s infancy, the country had very little infrastructure and money. On May 20, 2002, independence was restored, as the administration of the United Nations handed over the keys. Nearly a decade later, on December [...]

Japan’s Government Pension Investment Fund (GPIF), the largest pension plan in the world, plans to increase investment in domestic equities and international assets. The GPIF has ¥111.9 trillion in assets. Cuts will be made in domestic bond allocations which could go down to 60% from 67%. Since the GPIF is a major holder of Japanese [...]

What finance majors learn in university is being challenged in pension and sovereign wealth fund board rooms. Risk factor asset allocation is a new trend gaining popularity with chief investment officers and board members. Norges Bank Investment Management has performed research in the area and sovereign funds like the Alaska Permanent Fund Corporation have adopted [...]

Qatari Diar, a sovereign wealth enterprise of the Qatar Investment Authority, is looking to purchase 26 billion Qatari riyals (US$ 7.1 billion) worth of assets from Barwa Real Estate. Established on November 15, 2005, Qatari Diar owns 45% of Barwa Real Estate. In terms of real estate development, Barwa Real Estate is the biggest listed [...]

On June 4, 2013, Brazilian Finance Minister Guido Mantega removed a 6% tax on foreign bond buyers. Stock market investments were not subject to the tax. The tax was set in place years ago to prevent hot money flows. During the financial crisis in 2008, many emerging market nations faced appreciating currencies because Western central [...]

In recent months, the rising tide of the stock market has permitted institutional investors whether public pension or sovereign wealth fund the ability to take their gains and move on. Private equity firms or the new moniker alternative asset providers sell stakes in their management company to large institutional investors for a variety of reasons. [...]

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 [...]

How bad do mega public investors want to own a U.K. water utility? According to the Sovereign Wealth Fund Institute’s sovereign wealth fund transaction database (SWFTD), direct investments in European utilities have experienced steady growth over the past few years. Inflation-linked cash flows are in high demand by foreign institutional investors. A consortium dubbed LongRiver [...]

Trophy Manhattan real estate is in demand for foreign income investors. Meraas Capital LLC, a Dubai-based private equity firm and US Real Estate Opportunities I, L.P., a Goldman Sachs managed fund whose principal investors are government investors from Kuwait and Qatar, are selling a 40% stake in the General Motors Building. The tower buyers are [...]

According to the press release by the EFSF, “The European Financial Stability Facility (EFSF) disbursed today €7.2 billion to Greece for the recapitalisation of the banking sector. Klaus Regling, EFSF CEO said: ‘The funds transferred to Greece should help to create a healthy and functioning financial sector, which is a precondition for the recovery of [...]

The Monetary Authority of Singapore (MAS) opened their first Asian representative office in Beijing, China. Singaporean public leaders recognize China’s cultural and economic clout in the Southeast Asia region. Singapore’s sovereign funds maintain large investments in Chinese companies and assets, especially companies that are tied to middle-class mobility. Private consumption in China has driven recent [...]

A few mega American public pensions are trying to augment internal operations to save on investment management fees, increase efficiency and manage complex investments. Many of the Canadian public pensions are managed by public investment corporation entities like AIMCo and OMERS. This concept has piqued the interest of academics, policymakers and board trustees. Oregon’s Investment [...]

United Kingdom government officials announced Goldman Sachs and UBS AG will command a syndicate of banks for the £3 billion privatization of state-owned postal service Royal Mail Holdings plc. Other banks involved include Bank of America Merrill Lynch and Barclays. Past experience with Royal Mail was a factor in banker selection. The banks plan to [...]

The Emirates Investment Authority (EIA) and the Central Bank of the United Arab Emirates have inked a memorandum of understanding (MoU) to create a mint in the United Arab Emirates to meet the bank’s demand of printed currency notes. The Emirates Investment Authority is in charge of constructing and outfitting the mint. Many countries receive [...]

Every major public investor attracted to European core real estate wants a slice of London. The Crown Estate has been creating joint ventures to revitalize their central London properties. The Crown Estate has established a joint venture with Oxford Properties, the real estate subsidiary of the Ontario Municipal Employees’ Retirement System, to have Oxford Properties [...]

The Abu Dhabi Investment Authority (ADIA) achieved significant breakthroughs for 2012. Annualized returns for 2012, 20-year return (percent annualized) were 7.6%. For 2011, the 20-year return was 6.9%. A positive performance for 2012, ADIA profited from a hard weight in public equities, akin to Norway’s GPFG gain in asset value. Achieved significant breakthroughs in 2012 [...]