Qatar SWF Gets Barclays Bros. Interest in London Luxury Hotels

Qatar’s sovereign wealth exposure is expanding in the luxury hotel market in London. A unit backed owned by the Qatar Investment Authority (QIA), Constellation Hotels, has purchased a 64% interest in a portfolio of London hotels. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Friday SWFI News Roundup, April 24, 2015

Qatar Sovereign Wealth Capital Backs North African Resorts Bangkok-based Minor Group is working with Qatari Diar Real Estate Investment Company, a sovereign wealth enterprise of the Qatar Investment Authority (QIA), to construct two new resorts in North Africa. The resorts will be Anantara resorts. One of the resorts, Anantara Tozeur Resort, will be based in [...]

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Desjardins GAM Enters into the Smart Beta Fund Game

In recent months, new entrants to the smart beta fund game are launching fund products to boost and diversify sources of assets under management. The definition of smart beta is a gray area of strategies which aren’t quite active management. In short, smart beta funds focus on factors such as low-volatility and economic weights versus [...]

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New York

Morgan Stanley’s IM Business Rejigs, $500 Billion by 2016

As of December 31, 2014, Morgan Stanley Investment Management reported US$ 403 billion in assets under management (AUM). This is compared to US$ 377 billion in AUM from December 31, 2013. Morgan Stanley Investment Management, which touts clients such as pensions, insurance companies, endowments and sovereign wealth funds, continues to compete for growing AUM in [...]

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PGGM, Gingko and Others Acquire Madrileña Red de Gas

Morgan Stanley Infrastructure, a unit of Morgan Stanley, and other shareholders are selling a 100% interest in Madrileña Red de Gas (MRG) to a group led by EDF Invest, Gingko Tree Investment Ltd, and Dutch pension fund manager PGGM. The deal is valued at around US$ 1.34 billion. [ Content protected for Sovereign Wealth Fund [...]

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DISMANTLE: Sovereign Wealth Funds Could Buy Parts of GE

Getting early dibs, private equity giant Blackstone Group and San Francisco-based Wells Fargo signed agreements to acquire the majority of assets of GE Capital Real Estate, a unit of General Electric (GE), in a transaction value worth approximately US$ 23 billion. More financial assets are available for sale, as GE yearns to return to its [...]

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BlackRock NY

PRIVATE SIDE: Japan Post Chief Joins BlackRock

BlackRock is keen on being one of the top foreign asset managers in Japan (in terms of assets under management), especially as Japanese pensions gravitate toward equity products. Yoshiyuki Izawa, who has been president and CEO of Japan Post Bank for the past five years, is joining BlackRock as an executive. Japan Post Bank oversees [...]

Silk Road Fund Commits $1.65 Billion in Pakistan Hydro Project

China’s US$ 40 billion Silk Road Fund Co Ltd announced its first project investment on April 20, 2015. The US$ 1.65 billion investment will go toward the Silk Road Economic Belt and the 21st Century Maritime Silk Road initiatives – a massive economic undertaking to link China with key parts of the world. Silk Road [...]

Sovereign Wealth Funds Have an Active First Quarter 2015

With recent noteworthy deals of sovereign wealth funds buying up massive real estate assets such as Norway’s SWF deal with Prologis on acquiring KTR Capital for US$ 5.9 billion or the Abu Dhabi Investment Council’s role in allocating to Spotify’s latest round, wealth funds continue to exhibit a greater role in direct investments. Some notable [...]

Pavilion Capital Joins KKR Investor Group to Buy Interest in Ticket Monster

  Chicago-based Groupon Inc. is selling a controlling interest in Ticket Monster Inc, South Korea’s second biggest online e-commerce company, to a group of investors led by KKR (through KKR Asia Fund II) for US$ 360 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Prologis and Norway’s Sovereign Wealth Fund Acquire KTR Capital for $5.9 Billion

Norges Bank Investment Management (NBIM), manager of Norway’s Government Pension Fund Global (GPFG), signed an agreement to purchase a 45% stake for US$ 2.3 billion in a 60 million square feet industrial portfolio with additional development potential in a joint venture with Prologis. The transaction values the portfolio at US$ 5.9 billion. The joint venture, [...]

Oman SWF Invests in Italian Auto Parts Maker Sigit

The Oman Investment Fund (OIF), a sovereign wealth fund, acquired a 40% stake in Italian automobile parts manufacturer Sigit SpA. The strategic investment could lead to increased manufacturing in Oman, where the country has a booming young demographic, which is opposite of Italy’s aging demographic. Founded in 1966, Sigit is a privately-owned firm whose customers [...]

Temasek Allocates $150 Million in Indian Pharma Company

Singapore’s Temasek Holdings is investing 9.4 billion crore (US$ 151.4 million) in Mumbai-based Glenmark Pharmaceuticals Ltd. through its sovereign wealth enterprise Aranda Investments (Mauritius) Pte Ltd. Temasek is subscribing up to 10.8 million shares on a preferential basis for cash in the Indian drug manufacturer. Among sovereign wealth funds, Temasek is known for backing earlier [...]

Institutional Investors Await Comcast-Time Warner Cable DOJ Outcome

Institutional investors are carefully watching for a signal from regulators and antitrust officials regarding the possible merger block of cable giant Comcast Corporation and Timer Warner Cable Inc. The US$ 45 billion merger was announced in February 2014. In February 2014, Comcast Chief Financial Officer Michael Angelaki said “we are optimistic and feel comfortable” that [...]

Friday SWFI News Roundup, April 17, 2015

Ola Raises Money from Hedge Funds and Singapore Sovereign Wealth Fund Singapore’s GIC Private Limited invested in a US$ 400 million round in Ola, an Indian cab service. Ola is owned by ANI Technologies. Some other investors in the round are DST Global and hedge fund Falcon Capital Edge LP. QIA to Play Role in [...]

India deals

India Rising: Canadian Pension Giants to Open Mumbai Offices

Canadian Prime Minister Stephen Harper met with Indian Prime Minister Narendra Modi to work on a number of commercial agreements to facilitate trade and investment between the countries. After the election of Modi, Canadian pensions, sovereign wealth funds and private equity firms have boosted capital toward Indian companies and real estate. Opening up Mumbai Offices [...]

Saudi SOE Partners with Bunge to Buy Stake in Canadian Grain Handler

Saudi Arabia and its neighbors in the Gulf heavily rely on imported food. 80% to 90% of their food is imported. The kingdom’s neighbor, Qatar Investment Authority (QIA), created a unit to invest in farmland and other food opportunities called Hassad Food. Saudi Arabia has done the same. In 2011, late Saudi King Abdullah formed [...]

Citadel Hires Bernanke as Senior Adviser

Former Federal Reserve Chairman Ben S. Bernanke has agreed to advise Citadel, a hedge fund founded by billionaire Kenneth C. Griffin. Bernanke was the face of the Federal Reserve for eight years, spanning February 2006 to January 2014. During his tenure at the central bank, he presided over the 2008 global financial crisis, an enormous [...]

UPDATE: Ken Fisher Not Retiring From Investment Responsibilities

UPDATE: We were notified on April 16, 2015, that Ken Fisher will stay on as Chairman and Co-Chief Investment Officer of the firm. After stepping down as CEO, Fisher will remain a member of the firm’s investment policy committee with no change in his investment responsibilities. The title has been amended to reflect the change [...]

SHIFT: RidgeWorth to Target Sovereign Funds and Official Institutions

Atlanta-based RidgeWorth Investments, through its unit RidgeWorth International Ltd, is making a move to engage sovereign wealth and overseas public funds to boost assets under management. The asset manager is in the midst of redefining its marketing strategy after being spun off from SunTrust Banks. In late 2013, RidgeWorth Investments split from SunTrust Banks, selling [...]

ADIA Sells Shares in Deutsche Annington

Back in December 2014, Deutsche Annington Immobilien SE, a German real estate apartment company, announced its intentions to buyout all of Luxembourg-based realty company GAGFAH S.A. The combination of Deutsche Annington and GAGFAH creates a company that has a portfolio of 350,000 residential units, with a total portfolio value of €21 billion. Sovereign Wealth Investment [...]

2 Little Deals in India That Prove Sovereign Wealth Funds are Serious

Increasingly, sovereign wealth funds are participating in varying segments of India’s markets whether in startups, real estate development or infrastructure. For example, Singaporean sovereign funds have participated in investment rounds in e-commerce companies such as Snapdeal and Flipkart. On a higher level, government officials from India are contemplating trade ideas with surrounding countries. On April [...]

Kazakhstan’s Samruk-Kazyna Sees Opportunity in Silicon Valley

Kazakhstan’s Samruk-Kazyna, a strategic development sovereign wealth fund (SDSWF), is analyzing whether to open an overseas office in Silicon Valley. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Shell London

Norway’s SWF to Vote on Climate Change Disclosure for BP and Shell

Norges Bank Investment Management (NBIM), manager of Norway’s sovereign wealth fund, intends to vote in favor of special shareholder resolutions at the general meetings of energy titans BP and Royal Dutch Shell. These resolutions call for listed companies to detail risk and opportunities associated with climate change and have it incorporated into their annual reports. [...]

BIG MONEY: 3 Canadian Pension Cross-Border Real Asset Deals

Canadian pension institutional investors like OMERS and CPPIB continue their global search for long-duration, cash-flowing assets. #1. Mexican Infrastructure On April 13, Caisse de dépôt et placement du Québec (CDPQ) partnered with Mexican infrastructure company Empresas ICA, S.A.B. de C.V. by investing C$ 267.7 million in a joint venture for a 49% interest. Empresas ICA [...]

Australia FinMin Cormann Appoints 2 for Future Fund Board

Australian Finance Minister Mathias Cormann has appointed two members to the Future Fund’s Board of Guardian. These are 5-year terms. These members replace founding members Susan Doyle and John Mulcahy. See who works at the Future Fund Jane Wilson and Carloyn Kay have been appointed to the board of the Future Fund. Wilson is an [...]

RFPs, Allocations and Opportunities

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