CIC Rebalance: Sells 300 Million Shares in Noble Group

In a strategic move to rebalance its large direct holdings, sovereign wealth fund China Investment Corporation (CIC) sold about 1/3 of its holdings in Singapore-listed Noble Group Limited, a global commodity trader company. In 2009, the CIC acquired a 14.3% stake in Noble Group, betting on the natural resource theme. Noble Group is a major [...]

Read more
infrastructure

Alaskan SWF Commits $250 Million to Infrastructure Vehicle

The Alaska Permanent Fund Corporation (APFC) has made a US$ 250 million commitment to an infrastructure vehicle. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Read more

North Carolina Retirement Systems Allocates $1.5 Billion to Alternative Funds

North Carolina Retirement Systems committed US$ 1.5 billion in capital to a number of real estate and private funds. In August 2013, North Carolina Governor Pat McCrory signed a bill to clear the way for more flexibility for the fund to invest in alternative funds. It passed in the North Carolina Senate 48-to-1. See the [...]

Read more

GIC and ArcLight Sell 6 Nat-Gas Plant Interests to Carlyle Group

The Carlyle Group has acquired 75.05% of the outstanding interests and operational control of Southeast PowerGen from Boston-based ArcLight Capital Partners and GIC Private Limited, one of Singapore’s sovereign wealth funds. Southeast PowerGen is a holding company of 6 natural gas-fired power plants in Georgia. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers [...]

Read more
Dubai

Emaar Malls Records $1.6 Billion IPO

Dubai-based Emaar Malls Group raised US$ 1.6 billion in its initial public offering (IPO). This is the biggest IPO in the United Arab Emirates since 2007 – DP World had a US$ 4.96 billion offering. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Read more

AMBITION: Singapore’s LNG Asian Trading Hub Dream

With the help of a sovereign wealth fund, Singapore is strategically positioning itself as a liquefied natural gas (LNG) trading hub. The island nation seeks to capitalize on the growing hunger of LNG from countries such as Japan, China, India and Thailand. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe [...]

Read more

SWFI® NEWS, ARTICLES AND CURRENT ENTRIES

Gross Leaves PIMCO for Janus, Will Investors Follow?

In a surprising move to bond investors, Bill Gross, the founder of bond giant Pacific Investment Management Company (PIMCO) has resigned – sending shockwaves to the fixed income world. Gross started PIMCO in 1971. Gross is moving over to Janus Capital, a rival of PIMCO. PIMCO is a subsidiary of Germany-based Allianz. PIMCO has been [...]


Credit Hedge Fund Specialist Hired by ADIA

The Abu Dhabi Investment Authority (ADIA) hired a credit hedge fund specialist for a senior fund manager position. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Friday SWFI News Roundup, September 26, 2014

Stephen Blyth to become Next CEO of Harvard Management Company Stephen Blyth will become the next president and CEO of Harvard Management Company (HMC). Blyth will assume the presidency on January 1, 2015, succeeding Jane Mendillo who is leaving the endowment at the end of the year. Blyth joined the endowment manager in 2006 and [...]


SPIVA Europe Scorecard: Measuring the Effectiveness of Passive Investing in Europe

This article is sponsored by S&P Dow Jones Indices. By Aye M. Soe, CFA Senior Director, Index Research & Design At the heart of the active versus passive management debate lies the theoretical underpinning that the average return of both actively and passively managed assets must equal the aggregate market, thereby making it a zero-sum [...]


NMSIC Onboard: Sovereign Wealth Funds Adopting Smart Beta

The New Mexico State Investment Council (NMSIC) has embarked on a search for one or more smart beta managers to manage US$ 1 billion. The search is for two different types of smart beta managers: smart beta managers focusing on low volatility, and smart beta managers focusing on fundamental value strategies. The smart beta allocation [...]


Singapore SWF Makes Bid for UK Roadside Assistance Firm

UPDATE: September 25, 2014 GIC Private Limited has agreed to become a co-shareholder in RAC Ltd. In addition, RAC will not be pursuing an initial public offering at this moment. Singapore’s GIC Private Limited is in discussions with the Carlyle Group in a possible £2 billion (US$ 3.3 billion) plus takeover of RAC Ltd, the [...]


Press Release – SWFI Establishes Event Advisory Board

FOR IMMEDIATE RELEASE 24 September 2014 TAMPA, FL, UNITED STATES Press Inquiry: bclasen@swfi.com Download PDF of Press Release TAMPA, FL. – 24 September, 2014 – The Sovereign Wealth Fund Institute (SWFI) has recently named 10 current and former executives and advisors from some of the largest public funds globally to its Event Advisory Board. Rinchinnyamyn [...]


EIA Chief Mansouri to be New Governor of UAE Central Bank

Mubarak Rashid al-Mansouri, the CEO of Emirates Investment Authority (EIA), has been chosen to be the new Governor of the UAE Central Bank. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


OTPP in Investor Group to Acquire Cassidy Turley

Founded in Baltimore, Cassidy Turley, a commercial real estate firm, is being bought out by Texas-based TPG Capital, PAG Asia Capital and the Ontario Teachers’ Pension Plan (OTPP). The investor group plans to merge Cassidy Turley with Chicago-based DTZ, a property services company. DTZ Investment Holdings, backed by the investor group, will acquire Cassidy Turley. [...]


Almost 1.1 Billion: Washington State Investment Board Commits to Tangible Assets and PE

The Washington State Investment Board (WSIB) is allocating US$ 100 million to the Asia-Pacific Energy Infrastructure Fund which is managed by Prostar Capital. Founded in 2010, Prostar Capital is a private equity firm with professionals from First Reserve, ASX-listed Challenger Infrastructure Fund, Credit Suisse and The Australian Gas Light Company. [ Content protected for Sovereign [...]


NSIA and Seven Energy Ink Deal

The Nigeria Sovereign Investment Authority (NSIA), through its gas and power funds managed on behalf of Nigeria’s Debt Management Office, has signed a commitment letter to invest at least US$ 100 million in senior secured notes issued by Nigeria-based Seven Energy International Limited. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please [...]


sovereign wealth fund transactions

2014 Looks to Beat 2013 in Sovereign Wealth Fund Transactions

Increasingly, sovereign wealth funds are investing directly. The larger sovereign funds are getting involved in more deals, whether in institutional real estate, partaking as a group member in a company acquisition or buying more shares on the open market. As a whole, the world of sovereign wealth funds is rapidly expanding due to numerous factors. [...]


Yngve Slyngstad

Looming Issues: NBIM Ponders Appropriate Benchmarks

Norges Bank Investment Management CEO Yngve Slyngstad gave some remarks on benchmarking at Norway’s Ministry of Finance, poking holes at current indexes. Norway’s Government Pension Fund Global derives its wealth from oil. The fund expanded into public equities in 1998 and in recent years institutional real estate. Norway’s sovereign wealth fund has added overseas real [...]


SWFI – Movers and Shakers – September 22, 2014

Charles Plosser to Retire Philadelphia Federal Reserve President Charles Plosser is set to retire. He has been a vocal critic of quantitative easing. He will leave the FOMC in March 2015. Plosser was an economics professor at the University of Rochester and former dean of the University of Rochester Simon Business School. He was the [...]


Texas Permanent School Fund Approves $900 Million in Active Quantitative EM Equities

Mandates on emerging market equities continue to proliferate among U.S. public funds. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Defense Counters: More Details Revealed in Goldman vs. LIA Trial

The US$ 1 billion lawsuit over the 9 “dubious” derivatives transactions between the Libyan Investment Authority (LIA) and Goldman Sachs has moved forward. Goldman Sachs has prepared for its defense, releasing nuggets of information refuting the LIA’s claims. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


RDIF Builds Ties With Freight Village Ru

Business as usual at the Russian Direct Investment Fund (RDIF) as it reached consensus for a probable investment in Freight Village Ru, a logistics holding company founded in 2012. Freight Village Ru develops industrial parks under the Freight Village format. The proposal capital investment would allow Freight Village Ru to expand its Vorsino project. The [...]


Kuwait Sovereign Wealth Fund Sees Increased Activity in Germany

The Kuwait Investment Authority (KIA) has been bullish on Germany for decades – moving billions into the country. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Friday SWFI News Roundup, September 19, 2014

Scotland Votes “No” for Independence According to the BBC, results for Scottish independence from the United Kingdom show that 55.3% of the people voted “NO”. 44.7% of people voted “YES” for Scottish independence. The question remains if there will ever be a Scottish sovereign wealth fund. Institutional Capital Moves into Mexico for Energy Sierra Oil [...]


No Surprise: CalPERS Officially Names Eliopoulos CIO

On September 17, the California Public Employees’ Retirement System (CalPERS) selected Theodore “Ted” Eliopoulos as the official chief investment officer of the pension giant. This is ending a 7-month CIO search. Eliopoulos served as the interim CIO, taking over the job from the late Joseph Dear. Eliopoulos started at CalPERS as the senior investment officer [...]


SUBSCRIBE NOW AND ENJOY FULL ACCESS TO THE SWFI
Special Publication - SMART BETA

> Get Full Access to swfinstitute.org
> Receive Print Issue of Sovereign Wealth Quarterly
> Email: support@swfinstitute.org

Your E-mail...
x