Sovereign Wealth Funds and Russia

U.S. Treasury Sanctions Russian Direct Investment Fund

The U.S. Treasury has added a number of Russian entities to its sanctions lists. One of the entities is the Russian Direct Investment Fund (RDIF) which partners with other sovereign wealth funds on deals in Russia and abroad. Essentially, the U.S. Treasury’s Office of Foreign Assistance Control (OFAC) on July 30th added the RDIF because [...]

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Friday SWFI News Roundup, July 31, 2015

GIC a Cornerstone Investor in Syngene International Singapore’s GIC Private Limited became a cornerstone investor in Syngene International Ltd, the research and development subsidiary of Indian pharmaceutical company Biocon Ltd. Essentially, Syngene is a contract research organization. GIC kicked in Rs 25 crore, other investors such as funds managed by Morgan Stanley, Deutsche Bank and [...]

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SouthGobi Buys Time From CIC

SouthGobi Resources Ltd., a Mongolian coal mining company, won a deferral on a major interest payment owed to a giant Asian sovereign wealth fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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JOIN US: Learn More About Institute Fund Summit 2015 Europe

Register Today Public Fund Registration Here Request an agenda to see the speakers: events@swfinstitute.org Institute Fund Summit Europe 2015 Responsible Investment 26-27 October 2015 Hotel Okura, Amsterdam www.ifsummiteuro.com 6 continents are represented by our current delegates. Learn, network and participate in an interactive forum. This VIP forum is an information-driven, marketing-free forum where delegates share [...]

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CELEBRATE: GIC Generates Positive Return for Fiscal Year 2015

Singapore’s GIC Private Limited, one of the country’s sovereign wealth funds, released their annual report. GIC’s 20-year annualized real rate of return was 4.9%, up from last year’s 4.1% 20-year return. The sovereign investor had its best performance since 2005. However, the tone of the annual report echoes other sovereign wealth funds like Australia’s Future [...]

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DELAY: Federal Reserve Not Ready to Let Go

Asset managers, sovereign wealth funds, pensions and other institutional investors are prepping themselves for an increase in U.S. interest rates. The question is when and today the Federal Reserve’s Federal Open Market Committee released its latest monetary policy decision – no change. The press release points out the raising of rates depends on the incoming [...]

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SWFI® RESEARCH, ARTICLES AND INDUSTRY NEWS

GAMECHANGER: CIC Officially Announces New Subsidiary

The China Investment Corporation (CIC), the largest sovereign wealth pool of capital in China, has officially announced the launching of its newest sovereign wealth enterprise (SWE) called CIC Capital Corporation. This subsidiary will focus on long-term investments such as infrastructure, farmland, forestry and fishery projects overseas. [ Content protected for Sovereign Wealth Fund Institute Standard [...]


F2i Raises Money from Large Asian Investors

Il Fondo Italiano per le Infrastrutture (F2i), an Italian infrastructure manager partly-owned by banks and state-owned institutions, has raised €1.2425 billion in capital for its second investment fund. More than 40% of the capital, about €500 million, was raised was ex-Italy. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to [...]


Ireland’s SDSWF Forms €500 Million Joint Venture with KKR

Ireland’s Strategic Investment Fund (ISIF), the former National Pensions Reserve Fund, has partnered with private equity firm KKR Capital to form a €500 million residential property joint venture. ISIF is a strategic development sovereign wealth fund (SDSWF). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI – Movers and Shakers – July 29, 2015

Seides Ditches Protégé Partners, Joins Credit Suisse Asset Management Ted Seides, president and co-founder of Protege Partners, is leaving the company to create a hedge fund at Credit Suisse Asset Management. Seides will be developing an equity fund at Credit Suisse. John Mackin is being appointed president of Protege Partners. Seides will remain a non-voting [...]


India deals

State Bank of India Commits $100 Million to 2nd Fund by Oman-India JIF

On July 23, Mumbai-based State Bank of India (SBI), a government-owned lender, committed US$ 100 million to a US$ 300 million fund being raised by the Mumbai-based Oman India Joint Investment Fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Chinese Sovereign Fund to Become Major Landlord in Sydney Office Market

Globally, record low interest rates have intensified sovereign wealth funds thirst for yield. The China Investment Corporation (CIC), through its unit CIC International, has won the bidding for Investa Property Group’s portfolio of nine office towers known as Investa Property Trust. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to [...]


ADIA Appoints Hisashi Kuroda to Head Internal Japanese Desk

The Abu Dhabi Investment Authority (ADIA), one of the world’s largest sovereign wealth funds, hired Hisashi Kuroda to lead its internal equities department for Japanese equities. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Sitting on Close to $20 Billion in Cash, Future Fund Waits

Australia’s Future Fund has augmented its exposure to cash, getting near the $20 billion mark. The Future Fund is having a challenging time finding enough value in what it sees are overly-priced assets in the marketplace. As of March 30, 2015, the sovereign fund had $17.8 billion in cash – a 15.2% allocation to cash.[ [...]


Sovereign Funds: 3 Portfolio Moves They Are Contemplating

Sovereign wealth funds like the Abu Dhabi Investment Authority (ADIA) and GIC Private Limited often take tactical bets while maintaining their long-term investment views. For example, GIC is an investor in Mumbai-based Eros International Plc, an Indian moviemaker – betting on India’s growing consumer class. ADIA has skipped away from U.K. core real estate to [...]


Fundo Soberano do Brasil Sold Shares in Banco do Brasil

Fundo Soberano do Brasil (FSB), also called The Sovereign Fund of Brazil, profited 134 million BRL (US$ 39 million) from the selling of 5.625 million shares of Banco do Brasil SA between the period of June 29 through July 15. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view [...]


Temasek’s Ho Ching Extends Sabbatical

CEO and Executive Director Ho Ching of Temasek Holdings has taken the option of extending her part-time sabbatical leave to six months, and will complete her sabbatical in October 2015. Ching will continue with her board duties and specific stewardship duties. She joined Temasek Holdings in 2002 as executive director, becoming CEO in 2004. Ching [...]


JP morgan

Investors Recover $388 Million in JP Morgan MBS Class Action

After six years of intense litigation, the lead plaintiffs and court-appointed class representatives of Laborers Pension Trust Fund for Northern California and Construction Laborers Pension Trust for Southern California recovered hundreds of millions of dollars regarding nine 2007 residential mortgage-backed securities (MBS) offerings issued by JPMorgan Chase & Co. This brings near closure to one [...]


Why the Financial Times Deal Commands a Premium

In my opinion, aged financial media assets can be worth more than general news companies. Financial media companies like the Financial Times (FT) market to a more affluent audience that is willing to pay for access, thus subscriber revenue proves to be more sustainable than pure reliance on advertising dollars. Plus, online advertising pays far [...]


Maduell on CNBC: We Estimate Sovereign Wealth Funds Spent $14 Billion in Asset Manager Fees

Sovereign wealth funds utilize external managers for a variety of reasons. 37% of sovereign wealth fund assets are managed externally, according to a recent SWFI estimate. Some US$ 2.755 trillion is being managed by external parties out of a total of US$ 7.367 trillion. 63% of assets are invested directly. Recent direct deals include an [...]


Ireland

Ulster Bank Prefers Chartered Land and SWF Team for Ballsbridge Site

Dublin-based Chartered Land Limited, an Irish real estate developer, and the Abu Dhabi Investment Authority (ADIA) are in close negotiations on acquiring a land parcel in Dublin suited for development. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


LeasePlan Sells to Institutional Investors with a $4.04 Billion Pricetag

Global Mobility Holding B.V., the owner of Almere-based LeasePlan Corporation N.V., is selling LeasePlan to a group of long-term investors for €3.7 billion (US$ 4.04 billion). Global Mobility Holding is a joint venture between Volkswagen Aktiengesellschaft and Fleet Investments B.V., an investment company of German banker Friedrich von Metzle. Formed in 1963, LeasePlan is one [...]


ESTIMATE: Sovereign Wealth Funds Paid Around $14 Billion in Fees

When it comes to the financial sector, asset management is one of the most profitable industries in the world. The Boston Consulting Group put out a 2014 figure saying there is US$ 74 trillion worth of professionally-managed assets. One of the fastest growing institutional investor classes are sovereign wealth funds which have taken the parochial [...]


Phase II: Arranging Financing for Antares Capital Deal

The Canada Pension Plan Investment Board (CPPIB) is currently lining up its financing for the purchase of Antares Capital, a U.S. middle market lender, from General Electric (GE). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Norway’s Wealth Fund Exposed to a Struggling IBM

  Over the past few years, Armonk-based International Business Machines Corporation (IBM) has struggled to boost total revenue. Regardless of the blue chip stock’s sales generating dilemma, institutional investors like BlackRock and Fidelity Investments remain invested in the company. The revenue problem is not going away as overall quarterly sales fell for the 13th straight [...]


Temasek Seeks to Expand Venture Debt Financing in Asia

Singapore’s Temasek Holdings is partnering with United Overseas Bank (UOB), a major Singaporean bank, to provide up to US$ 500 million in venture debt for startups in China, India and Southeast Asia. Under the deal, United Overseas Bank will acquire 50% of Innoven Capital, a subsidiary of Temasek Holdings. In addition, UOB and Temasek will [...]


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