SWFI First Read, April 26, 2017

HNA Group Takes Sizable Stake in Dufry Hainan-based conglomerate HNA Group inked a deal to acquire a 16.79% ownership stake in Dufry AG, a Swiss duty-free retail operator, for around 1.44 billion CHF. HNA acquired the Dufry stakes from both GIC Private Limited and Temasek Holdings, according to an exchange filing. National Bank of Abu […]

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Sovereign Wealth Fund Institute and Samruk-Kazyna Co-Author Kazakhstan Opportunity Paper

The Sovereign Wealth Fund Institute (SWFI) and Samruk-Kazyna co-authored a special report on opportunities in Kazakhstan. In addition, included in the report, is an interview between, Michael Maduell, President of SWFI, and Umirzak Shukeyev, President of Samruk-Kazyna. Institutional investors are tactically re-examining opportunities in Central Asia, as government money is steadily leaving the sidelines to […]

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CPPIB and Baring Private Equity Asia Strike Deal to Acquire Nord Anglia Education

Nord Anglia Education, Inc. operates 43 private schools in fifteen countries. Funds affiliated with Baring Private Equity Asia (BPEA) and the Canada Pension Plan Investment Board (CPPIB) are in a group called Bach Finance Limited (c/o Vistra Alternative Investments Services Pte. Ltd.) Bach Finance inked a deal to buy Nord Anglia for a purchase price of US$ 4.3 billion, including repayment […]

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SWFI First Read, April 25, 2017

Ex-BlackRock Joseph Linhares to Head EMEA at Russell Investments Joseph Linhares was named Head of Europe, Middle East and Africa (EMEA) at Russell Investments. He will report to Len Brennan, CEO of Russell Investments. Previously, Linhares was Global Head of Platinum Accounts at BlackRock Inc. Linhares was an early employee of iShares, which was owned […]

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Maduell on CNBC: Wealth Fund Direct Investments in China Have Slowed

This is an interview with Michael Maduell on Squawk Box via CNBC Asia. To play the VIDEO, go to CNBC Here CNBC interview: “As wealth funds realign their Asia portfolios, direct investments in China have slowed, notes Michael Maduell of Sovereign Wealth Fund Institute.” Date: April 24, 2017 (Singapore Time)

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Dubai Aerospace Enterprise to Acquire AWAS from Terra Firma and CPPIB

U.K. private equity firm Terra Firma Capital Partners, alongside co-investors and the Canada Pension Plan Investment Board (CPPIB), announced an agreement to sell AWAS Aviation Capital Ltd. (AWAS), a Dublin-based aircraft lessor, to Dubai Aerospace Enterprise Ltd. Terra Firma and CPPIB have been long-term investors in AWAS, first investing in 2006.[ Content protected for Sovereign […]

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BlackRock Rehired for Texas Permanent School Fund’s Massive Passive Mandate

BlackRock does quite a bit of business with the Texas Permanent School Fund (TPSF). The Austin-based institutional investor had a separate account mandate with BlackRock to oversee a passive international developed markets and emerging markets equity strategy that started back in 2004. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe […]

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  • NYC Comptroller to Seek Majority Board Reset at Wells Fargo

    New York City Comptroller Scott M. Stringer, who oversees a number of New York pension funds, plans to oppose...
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    SWFI® RESEARCH, ARTICLES AND INDUSTRY NEWS

    NYC Comptroller to Seek Majority Board Reset at Wells Fargo

    New York City Comptroller Scott M. Stringer, who oversees a number of New York pension funds, plans to oppose the reelection of 10 out of the 15 board directors regarding Wells Fargo. The move would seek to oust Wells Fargo’s non-executive chairman Stephen W. Sanger. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers […]


    ATP Involved in Mega Hotel Project in Benelux

    Danish institutional investor ATP and AXA Investment Managers formed a 50:50 joint venture to acquire a massive hotel project in Amsterdam, located in the main business district of Zuidas. The project aims to be the largest hotel, measured by the number of rooms, in the Benelux region. [ Content protected for Sovereign Wealth Fund Institute […]


    Neptune Oil & Gas Plots with CIC on Engie Deal

    French utility Engie, formerly known as GDF Suez, is in the midst of potentially large transaction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    Permodalan Nasional Backs Merger Between SP Setia And I&P Group

    Malaysian investment giant Permodalan Nasional Berhad (PNB) is moving forward on plans to merge both of its property investments, SP Setia Berhad and I&P Group Sdn Berhad, a township developer. At the moment, SP Setia and I&P Group have 5,218 acres and 4,263 acres of undeveloped land respectively in the Klang Valley, Johor Baru, Penang […]


    SWFI First Read, April 23, 2017

    Schroders to Buy Adveq In a bid to diversify into the lucrative world of alternative investments, Schroders PLC, a FTSE 100 investment management company, made its move to buy Adveq Holding AG (Adveq), a specialist private equity business. Adveq was founded in Zurich in 1997. Bruno E. Raschle, Executive Chairman of the Board of Directors […]


    NZ Super Fund Stumbles in Wind Turbine Investment Ogin, Writes Off

    The New Zealand Superannuation Fund (NZ Super), which made a pivot toward green energy investments in the past few years, has experienced a loss. NZ Super’s investment in Ogin, a U.S. wind turbine company, is being completely written off as Ogin is being wound down. Ogin, formerly known as FloDesign, had sold its wind turbine […]


    SF Retirement System Drops Securities Lending For Now

    The San Francisco City & County Employees’ Retirement System (SFERS) is closing down its securities lending program, after a recommendation from the organization’s board of directors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    REVERSE: Mubadala Capital to Manage Money for Ardian

    Ardian, a European alternative investment management company, is buying the majority position in a US$ 2.5 billion pool of private equity interests owned by Mubadala Capital, a sovereign wealth enterprise (SWE) of Mubadala. Ardian is investing US$ 1.75 billion for that pool. The transaction was completed on March 31, 2017. Mubadala Capital will continue to […]


    Goldman Sachs AM Hit by $35 Billion in 1Q Net Outflows from Liquid Strategies

    According to March-end figures, Goldman Sachs reported US$ 1.373 trillion in assets under management from both Goldman Sachs Asset Management and the firm’s wealth management businesses. Net outflows for the quarter totaled US$ 30 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    Virtu Financial to Acquire KCG, Backing from Wealth Fund Capital

    High-speed trading firm Virtu Financial, Inc. signed a definitive agreement to acquire its rival KCG Holdings, Inc. in a cash transaction valued at US$ 20 per KCG share, or a total of approximately US$ 1.4 billion. Both the board of directors of Virtu Financial and KCG agreed to the transaction. Jefferies LLC, the largest shareholder […]


    Macquarie to Acquire Green Investment Bank

    A Macquarie-led consortium, comprising Macquarie Group Limited, Macquarie European Infrastructure Fund 5 (MEIF5) and Universities Superannuation Scheme (USS), has agreed to acquire the Green Investment Bank plc (GIB) from the U.K. government for £2.3 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    Deutsche Bank M&A Executive Tom Cooper Exits

    Since 2008, Deutsche Bank has struggled to get its investment banking division to where it used to be, losing to peers when it comes to generating substantial investment banking fees. Without fees and a shaky capital position, Deutsche Bank bled out high-profile bankers in the past two years. Deutsche Bank’s co-chairman of global mergers and […]


    Sovereign Funds Went Big in the Final Quarter of 2016

    Despite a succession of political shockwaves, sovereign wealth funds went back to plowing money into direct investments in the fourth quarter of 2016, investing US$ 60.31 billion versus US$ 30.43 billion in 4Q 2015, according to data from the Sovereign Wealth Fund Institute (SWFI). The SWFI transaction database tracks direct transactions made by sovereign funds, […]


    Mubadala Exits Out of Exova

    Abu Dhabi-based Mubadala was part of a group of investors that owned a large stake in Edinburgh-based Exova Group plc, a lab testing company with heavy reliance on the oil sector. Element Materials Technology Group Limited (Element Materials), which is majority-controlled by private equity firm Bridgepoint, agreed to acquire Exova in a £620.3 million deal, […]


    BlackRock Reaches $5.42 Trillion AUM

    BlackRock reported net income of US$ 862 million, while reaching US$ 5.42 trillion in assets under management at March 31, 2017. iShares continue to be a key driver of net inflows for BlackRock, US$ 64.5 billion of the US$ 80 billion in net inflows were from this segment. Of those iShares ETFs, there were equity […]


    $3.39 Trillion Allocated to Equities by Sovereign Funds in 2016

    The Sovereign Wealth Fund Institute (SWFI) research team estimates that at the end of 2016, US$ 3.39 trillion was being allocated to the listed equity asset class, an increase from 2015. There was also slightly increased asset allocation percentages in private equity, real estate and infrastructure, with fixed income facing a pullback. Sovereign fund allocation […]


    london

    Former PIFSS Director General to be Extradited Back to Kuwait Over Corruption Charges

    The former executive (Director General), Fahad al-Rajaan, of Kuwait’s Public Institution for Social Security (PIFSS) has been arrested by U.K. authorities. Fahad al-Rajaan had been convicted and charged of corruption and embezzling public money in Kuwait when he was leading PIFSS. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to […]


    SWFI First Read, April 18, 2017

    Norway Sovereign Fund Supports Credit Suisse on Executive Compensation Norges Bank Investment Management (NBIM), the manager of Norway’s sovereign wealth fund, plans to vote in favor of Credit Suisse’s planned payouts to senior managers, according to a fund statement. NBIM agreed and welcomed the statement made by Credit Suisse’s board of directors on April 13, […]


    Plans for Saudi Public Investment Fund to Inherit Airports and Other Aviation Assets

    As part of the massive privatization efforts by the Saudi Arabian government, the Riyadh-based Saudi Civil Aviation Authority plans to turn a number of airports into companies to improve accountability and transparency. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    A Swedish Sovereign Fund or Swedish Debt Fund?

    Unlike its oil rich neighbor Norway, Sweden does not have a sovereign wealth fund. However, the Swedes have a series of buffer funds. Sweden is in between Norway and Finland when it comes to government debt to GDP ratios. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. […]


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