3 Amazing April Private Equity Deals Influencing Market Dynamics

Jumbo-sized buyout firms are feeling emboldened to spend limited partner capital on deals that may be overvalued. In addition, public funds with large internal team have had success raising third-party capital.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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sovereign wealth fund sector deals

If Size Matters, Financial Sector Most Attractive for Sovereign Wealth Funds Between 2007 to 2013

In the past decade, sovereign wealth funds produced major strides when it comes to direct investing. From the start of 2007, till the end of 2013, the top three sectors for direct sovereign wealth fund investment were financials, real estate and energy. The 2007 banking bailouts are still major contributors to the financial sector aggregate [...]

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CVC and ADIA in Race for Spire Healthcare

The Abu Dhabi Investment Authority (ADIA) is working with London-based CVC Capital Partners to acquire Spire Healthcare. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Singapore’s Temasek Takes Sub-Saharan Africa Energy Bet

Singapore’s Temasek Holdings is moving into the sub-Saharan African natural resource market. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Not-for-Profit Giant Buys Nuveen Investments

The not-for-profit TIAA–CREF has agreed to acquire Nuveen Investments for US$ 6.25 billion including debt from an investor group led by Chicago-based Madison Dearborn Partners. Madison Dearborn bought Nuveen for US$ 5.75 billion in 2007, taking it private. At the time, it was the largest leveraged buyout in the asset management industry. New York-based TIAA-CREF [...]

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SWFI NEWS, ARTICLES AND MOST RECENT ENTRIES

Sovereign Wealth Themes: The Sun Never Sets on Sovereign Wealth II

This brief 3-page report is available for download for SWFI subscribers. This report gives a concise overview on the proliferation of sovereign wealth funds. DOWNLOAD April 2014 – The Sun Never Sets on Sovereign Wealth II The financial economy has become more complex and interconnected, especially with the proliferation of sovereign wealth funds, rivaling other [...]

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Former Mongolia Prime Minister to Speak at Institute Fund Summit 2014 Asia

The Honorable Amarjargal Rinchinnyam will deliver a keynote speech at the Institute Fund Summit 2014 Asia at The Peninsula Hotel in Hong Kong. Amarjargal is the former Prime Minister of Mongolia and currently serves as a member of the country’s parliament. Mongolia has tremendous mining wealth, derived mostly from coal, copper, molybdenum and gold, and [...]

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Friday SWFI News Roundup, April 11, 2014

Here are some quick bytes in the world of sovereign wealth funds and other long-term public funds: Peru Sovereign Wealth Fund Progress Peru is debating on creating a sovereign wealth fund. The government does not know how big the fund could be. The South American country grew 4.2% in January 2014, a slowdown in gross [...]

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Temasek SWE and RRJ Capital Invest $250 Million in Chinese Warehouse Business

A Singapore sovereign wealth fund is betting on a Chinese logistics facilities company following a platform investment from a major U.S. private equity investor. Overseas institutional money views modern logistics in China as a viable investment theme due to growth in mainland China e-commerce and middle class income. Temasek Holdings, through SeaTown Holdings International, and [...]

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A Big Deal: GIC Pays $1.3 Billion for Meguro Gajoen

Singapore sovereign wealth fund, GIC Private Limited, beat out other institutional investors to acquire Meguro Gajoen from Dallas-based Lone Star Funds for around 134 billion JPY (US$ 1.3 billion). Meguro Gajoen is based in central Tokyo and is comprised of an office tower, hotel and banquet hall. The key tenant is Amazon Japan, the Japanese [...]

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Not Too Late: Japan’s GPIF Seeks External Managers for Foreign Bonds

The US$ 1.26 trillion Japan’s Government Pension Investment Fund (GPIF) is seeking external managers for bonds ex-Japan. These include active mandates in high-yield, inflation-linked and emerging market debt. The GPIF holds around 11% of assets in foreign debt. The pension giant will most likely continue to increase foreign debt on behalf of domestic debt allocation. [...]

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Temasek Commences Private Equity Portfolio Astrea II

Singapore’s Temasek Holdings has pushed out Astrea II, a platform that has interests in 36 private equity funds. The Sovereign Wealth Fund Institute reported in late March, that Temasek was seeking an acquirer for US$ 1 billion of buyout fund interests. Temasek holds 38% of Astrea II, being the biggest single institutional investor. There are [...]

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Mid-April 2014 Sovereign Wealth Fund Deal Watch

Paris-based Bouygues S.A., France’s #3 cell phone provider, is trying to acquire Vivdeni’s SFR mobile unit. Luxembourg-based Altice, a telecom company, wants SFR as well. SFR is the number #2 cell phone provider in France. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Angola Sovereign Wealth Fund Confirms Audit Board

The Fundo Soberano de Angola (FSDEA) has confirmed the three-member Audit Board by the country’s Ministry of Finance. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Dubai CEO Doubles Down

On April 7th, in London’s financial center, was a confluence of wealth, forecasts and discussions as Dubai officials met with international bankers and institutional investors. These “roadshow” meetings came ahead of Dubai World’s annual creditor meeting. Government officials reiterated that pre-crisis, pro-growth measures were not a regret and the area is set for another boom. [...]

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Thanks HFT: Sovereign Wealth Funds and Pensions Fear Financial Transaction Tax

Michael Lewis’ Flash Boys: Cracking the Money Code has made rounds on American television, creating uproar in the secret world of high-frequency trading (HFT). After the slurry of TV interviews of Lewis promoting his new book, the Federal Bureau of Investigations (FBI) came forward, publicly announcing an investigation into high-frequency trading. “The United States stock [...]

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Public Funds Commit to Waterton Precious Metals Fund II

Toronto-based Waterton Global Resource Management raised Waterton Precious Metals Fund II Cayman LP with just over US$ 1 billion in commitments. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Florida SBA Buys 1370 Broadway for $186 Million

The Florida State Board of Administration (SBA) acquired the 16-story building at 1370 Broadway for US$ 186 million in cash from Morristown-based Normandy Real Estate Partners. The building is located in the middle of Times Square South. It is in close proximity to Bryant Park. Normandy Real Estate renovated the property and hired CBRE to [...]

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Succession Planning at BlackRock, Fidelity and Other Giants

In many cases, U.S. asset managers have struggled to adapt once a founding CEO or key head departs. Typically asset manager CEOs carry a persona that attaches them to the brand and investment philosophy. In early April, Laurence Fink, chief executive and co-founder of BlackRock Inc., promoted a number of executives globally. BlackRock President Robert [...]

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Northern Australia Builds Ties to the Gulf via Sandalwood

The government of Australia’s Northern Territory announced early last month it had engaged in confidential discussions with a Middle Eastern sovereign wealth fund regarding “significant investment in major Northern Territory infrastructure projects.” [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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See Which Managers Won Mandates from the World’s Largest Pension Fund

Source: GPIF Japan’s US$ 1.26 trillion Government Pension Investment Fund (GPIF) is the largest public investor on the planet. The GPIF revised its investment strategy and has chosen 14 active-strategy funds and 10 passive-strategy funds. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Lung Disease-Focused Medical Device Developer Attracts Sovereign Wealth

Sovereign wealth funds and other large public asset owners are moving faster into the venture capital space. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Norwegian FinMin: Sovereign Wealth Fund is Not a Political Tool

The Norwegian Ministry of Finance issued a press release stating the Norwegian Government Pension Fund Global (GPFG) is “a financial investor, not a political policy tool.” Tensions have flared in the media and political scene, as the debate moves toward what Norway’s sovereign wealth fund should do when it comes to the environment and climate [...]

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REVEALED: 5 Mandates Recently Approved by New Mexico’s SIC

The New Mexico State Investment Council (NMSIC) recently approved a number of mandates dealing with private investments. The NMSIC has committed US$ 75 million to FS Equity Partners VII, L.P. This fund is managed by Freeman Spogli & Co., a private equity firm focusing on U.S. consumer-related and distribution companies. The firm was founded in [...]

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FRR Gives Out European and French Equity Mandates

Paris-based Fonds de réserve pour les retraites (FRR) has announced the winners of the active managed equities mandates for European and French stocks. The FRR introduced the request-for-proposal on May 17, 2013. These mandates are given for 4 years with the ability to extend an additional year. European Small Cap Stocks – €500 Million Mandates [...]

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