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. ]

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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 [...]

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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 [...]

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ALM Pioneer Guus Boender Passes

Guus Boender was a co-founder of Ortec and became CEO of Ortec Finance in 1981. Boender has passed away on Monday morning after a battle with cancer. Boender was well internationally-recognized for his work and dedication in the asset-liability management (ALM) space. Ortec worked on a number of asset liability management strategies with organizations like, [...]

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Here’s Why CalPERS Dropped Hedge Funds

Are hedge funds losing significance with major institutional investors? The California Public Employees’ Retirement System (CalPERS), the largest U.S. pension fund, expelled hedge funds from its portfolio – sending a shock to the estimated US$ 3 trillion hedge fund industry. Some hedge funds are known for leveraged bets on market beta. CalPERS interim Chief Investment [...]

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Norway Sovereign Wealth Fund Spends $1.5 Billion on NY and Boston Properties

Norges Bank Investment Management (NBIM), which manages the sovereign wealth of Norway, has inked a deal to acquire a 45% interest in 601 Lexington Avenue (formerly Citigroup Center), in addition to equal shares in two Boston properties for US$ 1.5 billion in cash. This puts the aggregate value of the properties at around US$ 4.06 [...]

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SWFI® NEWS, ARTICLES AND CURRENT ENTRIES

It’s Official: CIC Shifts Executives, Lau Steps Down

The China Investment Corporation (CIC) appointed Guo Haoda to chair the Board of Supervisors. He replaces Li Xiaopeng. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


MENA Infrastructure Seeks to Raise $500 Million for Second Fund

Dubai-based MENA Infrastructure is seeking to raise a second US$ 500 million Shari’a-complaint infrastructure fund, MENA Infrastructure Fund II, will focus on Middle East, North Africa and Turkey. MENA Infrastructure is owned by HSBC Bank Middle East Limited, Fajr Capital and Waha Capital. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please [...]


SWFI – Movers and Shakers – September 16, 2014

Putnam Hires Lazard Asset Management’s US Head of Institutional Marketing Boston-based Putnam Investments has hired Jeffrey L. Gould as head of global institutional management. Gould does not have an official start date. Gould replaced Joseph Phoenix who exited Putnam late in 2013. Phoenix had been with Putnam since 1989 and Putnam CEO Robert Reynolds desired [...]


Public Funds Eye Associated British Ports

Goldman Sachs and UK-based Prudential plc, through its infrastructure investing arm called Infracapital Partners LP (managed by M&G Investment Management), are seeking to sell their combined 33% stake in Associated British Ports Holdings Ltd. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


3 Trends Forcing Sovereign Funds to Rethink Tactical Asset Allocation

On September 15, Paris-based Organization for Economic Cooperation and Development (OECD) chopped its economic growth forecast for the United States and other large developed countries. The OECD painted a picture of the Eurozone facing very low inflation rates, pushing back demand and heightening unemployment. There is amplified divergence occurring in economic markets. Some countries are [...]


credit funds

CalPERS Gives Out $2.65 Billion to Real Estate and Credit Managers

The California Public Employees’ Retirement System (CalPERS) committed US$ 600 million toward two real estate partnerships. CalPERS added US$ 200 million to Palo Alto-based Pacific Urban Residential, a joint venture partner to the multi-family real estate partnership called Pacific Multifamily Investors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to [...]


NZ Labour Party Cunliffe Unveils Sovereign Wealth Plan

Politics is heating up in New Zealand as the opposition party unveiled some new elements to their platform. New Zealand’s Labour Party, headed by leader David Cunliffe, wants to establish a sovereign wealth fund to invest in new companies. Cunliffe, a sitting member of NZ parliament, representing New Lynn, West Auckland, mentioned the companies also [...]


Libya’s New Majlis al-Nuwaab Fires Central Bank Governor

Libya’s Majlis al-Nuwaab or known in the West as “House of Representatives”, which is exiled in the Eastern city of Tobruk, has fired the central bank governor on September 14, 2014. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Public Funds Bet on XPO Logistics

Greenwich-based XPO Logistics, which is publicly-traded on the NYSE, has drawn interest from a pool of public sector capital. Ontario Teachers’ Pension Plan (OTPP), Canada’s Public Sector Pension Investment Board (PSP Investments) and Singapore’s GIC Private Limited have agreed to invest US$ 700 million into XPO for an approximate 21% equity stake. The investment will [...]


Moving Forward: Congo’s Determination to Create a Sovereign Wealth Fund

Staff members at the International Monetary Fund (IMF) urged Congo government officials to work with the Bank of Central African States (BEAC) to achieve agreement on reserve management policies. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Friday SWFI News Roundup, September 12, 2014

Emaar Malls Group Seeks to IPO Emaar Properties is trying to have an initial public offering for its mall unit Emaar Malls Group. The IPO is targeted to raise approximately US$ 1.44 billion for Emaar Properties. The Emirates Investment Authority (EIA) reserves the right to purchase 5% of the transaction. The UAE federal sovereign wealth [...]


CCMP Capital Advisors Raises $3.6 Billion for Fund III

New York-based CCMP Capital Advisors, LLC has closed CCMP Capital Investors III at US$ 3.6 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Goldman Sachs Lands $2 Billion Deal to Assist NY Pension Assets

The US$ 180.7 billion New York State Common Retirement Fund and Goldman Sachs Asset Management have formed a strategic partnership to manage US$ 2 billion in active global strategies. The pension fund has about US$ 100 billion in its global equity portfolio and is headed by New York State Comptroller Thomas DiNapoli. Goldman Sachs has [...]


Albania’s Central Bank Governor Arrested at Office Over Theft Fiasco

On September 5, 2014, Albania’s central bank governor Ardian Fullani was arrested that evening at his office. Albanian prosecutors charged Fullani with “abuse of office” and theft of more than 713 million lek (US$ 6.63 million) from the central bank’s vaults. The theft was reported during the summer. Fullani is the 17th Bank of Albania [...]


Dangote Transaction: Dubai Money Flows Into West Africa

Nigeria-based Dangote Cement is a publicly-traded company on the Nigeria Stock Exchange, with a market capitalization of approximately US$ 24.5 billion (largest company in Nigeria by market capitalization). Founded by businessman Aliko Dangote, Dangote Cement received a US$ 300 million investment from the Investment Corporation of Dubai (ICD). In return, ICD received a minority stake [...]


Asian sovereign wealth

BOOM: Carlyle Raises $3.9 Billion for Fourth Asia Buyout Fund

The Carlyle Group has raised US$ 3.9 billion for its fourth Asian buyout fund, Carlyle Asia Partners IV. This is the second biggest private equity fund ever raised that is targeted for Asian investment. The fund excludes Japan since Carlyle is planning to raise a separate Japan fund. To raise capital, Carlyle lowered its management [...]


GlassPoint Solar Raises Capital from Oman Sovereign Wealth Fund

Fremont-based GlassPoint Solar Inc. is a company that provides solar steam generators to the oil & gas industry for applications such as enhanced oil recovery. GlassPoint purports the solar steam generators could eventually reduce an oilfield’s natural gas consumption by up to 80%.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe [...]


India deals

Singapore Sovereign Wealth Centers on the Indian Consumer

Singapore sovereign wealth fund Temasek Holdings has been pursuing opportunities in India’s consumer sector. With a regional office in Mumbai, Temasek is gearing up for more deals. Temasek is likely to make a bid for New Delhi-based Devyani International, a store operator of KFC, Pizza Hut and Costa Coffee locations in India. [ Content protected [...]


CME Heavily Targeting Central Banks

Increasingly, American exchanges are pursuing non-traditional sources of money, such as overseas central banks and sovereign wealth funds. The drastic drops in exchange trading volumes for cash products has caused these exchanges to refocus parts of their marketing efforts. Read Modifications to Central Bank Incentive Program – CME Group [ Content protected for Sovereign Wealth [...]


emerging markets sovereign wealth funds

RDIF Anticipates Possible Effects of Western Sanctions

In the not so distant past, the Russian Direct Investment Fund (RDIF) has been strategically forming investor alliances in both the East and the West. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


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