SWFI First Read, March 25, 2017

Bloomberg Reports QIA to Move Domestic Assets to Qatar MoF Bloomberg reported the Qatar Investment Authority (QIA) will move roughly US$ 100 billion of its domestic portfolio to Qatar’s Ministry of Finance. SWFI cannot guarantee the accuracy of this move and is awaiting confirmation. UK FCA Reignites Investigation Regarding Barclays and Qatar The U.K. Financial […]

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Abu Dhabi Investment Authority Holds on to Playa Hotels & Resorts

With a complex ownership history, Netherlands-based Playa Hotels & Resorts NV is an owner, operator and developer of all-inclusive resorts in Mexico and the Caribbean. In the highly-competitive world of vacation renting, Playa owns a portfolio consisting of 13 resorts located in Mexico, the Dominican Republic and Jamaica. Five of Playa’s resorts (Dreams Puerto Aventuras, […]

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Hong Kong and Canada to Join AIIB

The Asian Infrastructure Investment Bank’s (AIIB) board announced on March 23, 2017 that Hong Kong and Canada were part of the 13 applicants approved for membership. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Abu Dhabi Investment Council Refinances Chrysler Building

As the U.S. Federal Reserve signals possible interest rate increases for the remainder of 2017, a number of building owners in Manhattan are looking to refinance. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Follow the Money – Episode 35

This episode was recorded on March 22, 2017. Rachel and Michael cover JASTA and the potential effects it will have on future investment activity. This episode has a special focus on legal issues and shareholder rights. There is also a debate on ethical investing and the costs of it. Download the Episode CONTENTS 1:05 Shareholder […]

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Falcon Private Bank Pivots Away from Fallout of 1MDB Scandal

Zurich-based Falcon Private Bank, which was greatly affected by the fallout of the 1MDB scandal, is now getting a capital injection from Aabar Investments, a unit of Abu Dhabi’s International Petroleum Investment Co (IPIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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SWFI First Read, March 23, 2017

Amazon to Acquire Souq E-commerce giant Amazon has agreed to acquire Dubai-based Souq.com from its shareholders. Rumors say the sales price was roughly US$ 650 million. This transaction enables Amazon to expand retail e-commerce control in the Middle East. Institutional backers of Souq include Standard Chartered Private Equity, Singapore’s GIC Private Limited, Naspers, Baillie Gifford, […]

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  • SWFI Institutional Investor Forum 2017 – Scottsdale Slider 3

    A truly all-star panel of experienced chief investment officers (CIOs), Bruce Cundick reads off headings in the Sovereign Wealth...
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    SWFI® RESEARCH, ARTICLES AND INDUSTRY NEWS

    ISIF Commits to Reverence Capital Partners Opportunities Fund

    On March 21, 2017, the Ireland Strategic Investment Fund (ISIF) announced a €50 million investment in Reverence Capital Partners Opportunities Fund I L.P., a fund focused on investing in global, middle-market, financial services companies. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    BVK Invests in Retail Properties in Spanish Urban Areas Through Hines Account

    Bayerische Versorgungskammer (BVK) has committed €190 million to acquire two prime high street retail assets with associated office space in Madrid (located on Calle Preciados – Maestro Victoria) and Barcelona (located on Paseo de Gracia 17). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    Nigerian Federal Government Announces Board Reconstitution for the Nigeria Sovereign Investment Authority

    Nigeria’s National Economic Council (NEC), rising from its 74th session, announced the reconstitution of the Board of Directors of the Nigeria Sovereign Investment Authority (NSIA). This occurred on March 21, 2017. The new board can be viewed of NSIA’s institutional profile in SWFI.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe […]


    SWFI First Read, March 22, 2017

    Standard Life Investments Hires Former SSgA Executive for Strategic Relationships Role Standard Life Investments, the investment management unit of Standard Life Plc, hired Larry Carlson to be director of strategic relationships. He will be based in Boston and report to Jack Boyce, the firm’s managing director and head of North America distribution. Previously, Carlson worked […]


    Toll Road Operator 407 International Raises Senior Notes

    407 International Inc. is the operator of the Ontario toll highway Highway 407. 407 International has issued C$ 250 million in 3.43% senior notes (Series 17-A1) from its C$ 1.8 billion medium-term notes program. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    Norway’s Sovereign Fund Generated Less Income Due to Ethical Divestment Policy

    Norway’s Government Pension Fund Global (GPFG) generated 1.11% less in equity returns between 2006 and 2016 due to its policy on excluding companies on ethical grounds, according to a report released by Norges Bank Investment Management (NBIM). These exclusionary guidelines include companies engaged in severe environmental damages, labor issues and others such as the production […]


    ADIA Sues Petrobras Thanks to Operation Car Wash Results

    Increasingly, sovereign funds are asserting their shareholder rights over listed corporations when it comes to possible material misstatements by firm management, which can drastically impact the value of a company security. Petroleo Brasileiro S.A. (Petrobras), Brazil’s gigantic state-owned oil giant, has been embroiled in a widespread political scandal that brought down the country’s first female […]


    Large Group of 9/11 Families Sue Saudi Arabia, JASTA Utilized

    It appears the Justice Against Sponsors of Terrorism Act (JASTA) law is being utilized, after the U.S. Congress had overwritten then U.S. President Barack Obama’s veto. Both U.S. Presidents George W. Bush and Barack Obama were hard pressed to not hold the Saudi Arabian government accountable for the September 9/11 attacks for a variety of […]


    Qatar Royal Family Plans to Participate in Deutsche Bank Capital Raise

    Deutsche Bank AG plans to raise €8 billion (US$ 8.6 billion) from an equity capital increase, according to its website. The German mega lender plans to strengthen its balance sheet by issuing 687.5 million new shares at €11.65 per share. This would be a 35% discount compared to the close on March 17, 2017. The […]


    SWFI First Read, March 20, 2017

    Bakheet Al Katheeri Promoted to Chief Executive for Mubadala Petroleum Bakheet Al Katheeri was named the new Chief Executive for Mubadala Petroleum. This move is part of the massive reorganization of the merger between International Petroleum Investment Company (IPIC) and Mubadala Development Co. Al Katheeri was the Chief Growth Officer of Mubadala Petroleum. Before Mubadala […]


    China and the U.S.: The Next Two Years for Institutional Investors

    A lot can happen in two years. Look what just happened in the final five months of 2016. Even the most sophisticated of financial pundits and asset manager CEOs were hard pressed to believe a Trump rally would actually occur in late October 2016 given the momentous news cycle of 2016. Chief investment officers, both […]


    Trinidad & Tobago Government Withdraws $251 Million from Heritage and Stabilization Fund

    Depressed oil prices have exerted enormous pressure on the fiscal budget of Trinidad & Tobago, creating revenue shortfalls. On March 16, 2017, a budget move was approved to withdraw TT$ 1,712,200,000 (US$ 251 million) from the country’s Heritage and Stabilization Fund (HSF). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe […]


    Follow the Money – Episode 34

    In mid-March, Rachel and Michael roll back into Follow the Money, talking about luxury retail and infrastructure investments. Rachel talks about investment partnerships and Turkey’s wealth fund. Download the Episode CONTENTS 0:55 Neiman Marcus Story 4:15 Chatting About E-Commerce 5:30 Mubadala Updates 8:18 Sovereign Funds and Inflation Strategies 12:15 Hedging Cash Flows and Investment Partnerships […]


    Once Scorned, Sovereign Investors Take Another Look at U.S. Banks

    Remember when sovereign funds bailed out many of the large global banks during the 2007-2008 financial crisis. For several wealth funds, such as the Korea Investment Corporation (KIC), the massive bank bailouts have been a drag on annual portfolio performance. The Abu Dhabi Investment Authority (ADIA) even pursued litigation over Citigroup regarding its US$ 7.5 […]


    Local Gulf Capital Joins the Chorus to Target U.S. Residential RE

    Dubai-based Trucial Investment Partners Limited, which is a spin-out of the Dubai International Capital private equity team, is in the midst of forming ventures with local partners. In January 2017, Trucial Investment Partners entered into a strategic partnership with Bahrain-based Securities & Investment Company (SICO). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers […]


    CDPQ and KKR to Acquire USI Insurance Services

    Caisse de dépôt et placement du Québec (CDPQ) and private equity firm KKR & Co., along with USI employees, are jointly buying Valhalla, N.Y.-based USI Insurance Services LLC from Onex Corporation for an enterprise value of around US$ 4.3 billion. Excluding debt, the deal comes to roughly US$ 2 billion. CDPQ and KKR will have […]


    CDPQ Provides Term Loan for Mont Sainte-Marguerite Wind Farm

    On March 7, 2017, the Caisse de dépôt et de placement du Québec (CDPQ) had announced a C$ 90 million term-loan financing as part of the construction of the Mont Sainte-Marguerite wind farm project. The wind farm project is located in the Chaudière-Appalaches region, 50 kilometers south of Québec City. [ Content protected for Sovereign […]


    private equity

    Sovereign Wealth Capital Invests in Moximed

    Hayward, California-based Moximed, Inc., a developer of unicompartmental load absorber implants for active patients with painful knee osteoarthritis (OA), raised a US$ 50 million Series C round. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    GIC Backs Self-Driving Electric Car Manufacturer in China

    Tesla Motors and other electric car manufacturers have garnered the attention of sovereign wealth capital. Shanghai-based electric car maker NIO, formerly known as NextEV, raised 600 million RMB (US$ 86 million) in a funding rounding led by Shenzhen-based Tencent Holdings Ltd. and Baidu Inc. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. […]


    OIF Nears Syndication Deal for Omantel Acquisition

    The Oman Investment Fund (OIF) is in the midst of finalizing its complete syndication of a 5-year, US$ 600 million loan. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


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