Welcome to San Francisco, Temasek Holdings

Temasek goes bi-coastal, as the wealth investor is poised to increased investment in U.S. companies. Singapore’s Temasek Holdings has opened their second U.S. office in San Francisco. The first U.S. office was opened in New York City in June 2014. Temasek is joining it sovereign wealth peers, Malaysia’s Khazanah Nasional and GIC, in having a […]

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SWFI First Read, February 17, 2017

HNA Group Buys Small Stake in Deutsche Bank China’s HNA Group, a well-known massive conglomerate, purchase a 3.04% stake in Deutsche Bank. The transaction is estimated at £750 million. HNA Group indicated they could increase buying shares in the German bank. GIC Sold Some Shares in CGN Power Co., Ltd Singapore’s GIC Private Limited lowered […]

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Follow the Money – Episode 32

This episode was recorded on February 15, 2017. Rachel and I break into chatting about the SoftBank/Fortress Investment Group transaction. Rachel reports on VietJet, while I discuss direct wealth fund deals into mainland China. We dive into emerging market deals in countries such as Brazil and India. I talk about direct deals and the headaches […]

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Nigerian Sovereign Wealth Gets $250 Million from ECA

Nigeria’s National Economic Council (NEC) has approved a fresh capital injection of US$ 250 million into the country’s sovereign wealth fund – Nigeria Sovereign Investment Authority (NSIA). The money is coming from Nigeria’s Excess Crude Account. At July 20, 2016, the excess crude account had US$ 3.93 billion in assets. In total, Nigerian President Muhammadu […]

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SWFI First Read, February 16, 2017

ADIA and CDPQ Eye Autostrade Investment Autostrade per L’Italia SpA, an Italian toll road operator, has attracted the interest of big asset owners such as the Abu Dhabi Investment Authority (ADIA), Caisse de dépôt et placement du Québec (CDPQ) and Allianz SE. The seller of the 15% stake in Autostrade is Atlantia. Mubadala Investment Company […]

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Government Proposes Norway Wealth Fund Equity Shift

Reported in December 2016 by SWFI, Norway’s Government Pension Fund Global (GPFG), appears to be moving forward on a plan to increase allocation to listed equities. On February 16, 2017, the Norwegian government has officially proposed the changes in allocation and oil rule for the wealth fund. The wealth fund could see its total allocation […]

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SWFI – Movers and Shakers – February 16, 2017

Gramercy Funds Management Hires Former Co-Head of Emerging Markets Structured Credit Trading at Deutsche Bank Bradshaw McKee was hired as Managing Director, Capital Solutions and Distressed Portfolio Manager in Emerging Markets at Connecticut-based Gramercy Funds Management. This is a new position and McKee will report to Robert Koenigsberger, Managing Partner and Chief Investment Officer at […]

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  • blackstone

    What Will Blackstone Do With Aon’s Record-Keeping Business?

    Private equity firms are attracted to cash-flowing companies that help large enterprises cut costs. The Blackstone Group has agreed...
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    SWFI® RESEARCH, ARTICLES AND INDUSTRY NEWS

    Could SoftBank Challenge the Dominance of Blackstone?

    Japan’s SoftBank Group Corporation has agreed to buy New York-based Fortress Investment Group LLC for approximately US$ 3.3 billion in cash in a bid to further cement the firm’s ascension into the lucrative world of money management. Fees are the revenue drivers for investment managers. The deal worked out that SoftBank would pay US$ 8.08 […]


    Is Singapore’s GIC Slowly Backing Away from Sinotrans?

    Beijing-based Sinotrans Limited is one of the largest logistics firms in China, founded in 2002. The majority shareholder of Sinotrans Limited, which is listed on the Hong Kong Stock Exchange, is Sinotrans & CSC Holdings Co., Ltd (controlling 53.44% as of December 31, 2015). Sinotrans & CSC Holdings Co., Ltd., China’s second biggest shipping company […]


    China-Russia Tongjiang Rail Bridge Back on Track

    The Amur International Rail Bridge, also known as the China-Russia Tongjiang Rail Bridge, aims to link Russia and China transportation-wise. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    Investment Staff Exodus at South Korea’s NPS

    South Korea’s National Pension Service (NPS) is experiencing a number of key employee departures within the organization’s investment management department. Sang-Hyun Yoo, the Head of the Global Alternative Investment Division at NPS, has exited the firm. Kyung-Jik Lee, head of NPS’s global public market investment division, has left as well. Kyung-Jik Lee is heading over […]


    SWFI First Read, February 14, 2017

    U.S. Senate Confirms Mnuchin for Treasury Secretary In a 53 to 47 vote that was mostly along party lines, the U.S. Senate has confirmed Steven Mnuchin for U.S. Treasury Secretary. Mnuchin was CEO of OneWest Bank, the entity that acquired IndyMac. Nordea Gets Political Over Dakota Access Pipeline Nordea has decided to divest from bonds […]


    The Canadians Are Building a National Infrastructure Bank

    In November 2016, Canadian Finance Minister Bill Morneau stood up in the House of Commons and announced plans to create a new infrastructure bank, a Canada Infrastructure Bank, for the country. Building infrastructure and creating jobs are popular themes that resonate with many voters in Western countries. Tapping on wealth fund, pension and infrastructure asset […]


    Can Mubadala Rejuvenate Brazil’s Invepar?

    Brazil, Latin America’s biggest economy, is facing its toughest recession in decades amid a earth-shattering political crisis that linked government officials with state-owned companies. Making matters worse for the Brazilian economy is that borrowing costs had surged, while deal execution risk has increased. In February, state-controlled oil giant Petróleo Brasileiro SA (Petrobras) had its sale […]


    KIA

    KIA Managing Director Proposed to Join Daimler Supervisory Board

    The Supervisory Board of Daimler AG plans to nominate Bader Mohammad Al-Sa’ad, Managing Director of the Kuwait Investment Authority (KIA), to its board. Bader Mohammad Al-Sa’ad was ranked #7 on the inaugural Public Investor 100 in 2013. The annual shareholders’ meeting for Daimler will be held on March 29, 2017 in Berlin. Dr. Bernd Bohr […]


    SWFI First Read, February 13, 2017

    Endeavour Energy Gets Offers The New South Wales government has received offers for a majority stake in Australian state-owned power grid Endeavour Energy. One investor group is led by Macquarie Group partnering with British Columbia Investment Management Corporation (bcIMC). Another investor group is led by Queensland Investment Corporation (QIC) that includes AMP Capital and Borealis […]


    GIC Takes VietJet for a Ride

    VietJet Aviation Joint Stock Company (VietJet), a Vietnamese budget air carrier, breathed life into plans to go public. VietJet was granted initial approval to operate in November 2007 by Vietnam’s Minister of Finance and was founded by Nguyen Thi Phuong Thao, a Vietnamese businesswoman. In the 1980s, Nguyen Thi Phuong Thao was a student in […]


    Sovereign Wealth Fund Sells 100 Pine Street to Rockpoint Group

    After a holding period exceeding 10 years, this sovereign wealth fund was ready to sell. Boston-based Rockpoint Group, L.L.C. has acquired an office building in San Francisco for US$ 287.5 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    ISIF and Enterprise Ireland Are Backing Frontline Ventures’ Second Fund

    Ireland is keen on luring software companies to its shores. Frontline Ventures, an early-stage venture capital firm with offices in Dublin and London, closed its second fund at €60 million. Frontline Ventures is led by partners Shay Garvey, Will Prendergast, William McQuillan, and Stephen McIntyre. The venture capital firm targets business-to-business software companies in their […]


    blackstone

    What Will Blackstone Do With Aon’s Record-Keeping Business?

    Private equity firms are attracted to cash-flowing companies that help large enterprises cut costs. The Blackstone Group has agreed to buy insurance broker Aon’s benefits administration and human resources business process outsourcing (BPO) platform. This deal includes getting Aon’s U.S. defined contribution record-keeping business. The transaction includes a US$ 4.3 billion upfront payment, and upwards […]


    Jean Raby to Take Helm at Natixis Global Asset Management

    Natixis Global Asset Management has named a new CEO. Jean Raby will take the helm of CEO effective February 20, 2017. Raby will be a member of the firm’s senior management committee. Raby will oversee the three divisions of Natixis Global Asset Management which include the asset management, private banking and private equity business divisions. […]


    GIC UNITE JV Acquires Aston Student Village

    Wealth funds and cash-rich pensions are getting more exposure to student accommodation portfolios in Occidental countries. Institutional investors are attracted to the United Kingdom’s higher education sector due to its perceived status. Unite Students, the student accommodation unit of Unite Group Plc, and Singapore’s GIC Private Limited have a 50:50 joint venture. That joint venture […]


    Algerian Government Permits New $3.3 Billion Deep Water Port

    Oil and gas comprises the majority of Algeria’s export revenues. The Algerian government has permitted construction to start on a new deep-water port at El Hamdania which is roughly 80 kilometers west of Algiers. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    Mainland China Experiencing Slowdown in Wealth Fund Direct Deals

    With China experiencing a deceleration in economic growth, heightened geopolitical tensions, and rising risks in the country’s traditional financial sector, wealth fund direct investments have slowed down to a crawl in 2016 compared to 2015. Direct Transactions into Mainland China by Sovereign Wealth Funds – Billions USD Even though there is an abundance of institutional […]


    SWFI First Read, February 9, 2017

    Franklin Resources Brings on AlphaParity Franklin Resources, Inc., which operates as Franklin Templeton Investments, announced that the team from New York-based AlphaParity LLC, a risk premia investment firm, will join its Franklin Templeton Solutions platform. Founded in 2012 by Steve Gross and Joshua Smith, AlphaParity oversees roughly US$ 500 million as of December 31, 2016, […]


    Co-Founder of Townsend Group Kevin Lynch Passed Away

    Kevin Lynch passed suddenly over the weekend on February 4, 2017 at his home in Naples, Florida. Kevin Lynch co-founded the Townsend Group in 1983. The Townsend Group is a major player in the world of institutional real estate consulting advising pensions, sovereign funds and other asset owners. Lynch is a member of the Pension […]


    Russian Direct Investment Fund Expects Capital Boost

    The Russian Direct Investment Fund (RDIF) has been making deals with governments, wealth funds and corporations across the Eastern hemisphere. RDIF has also formed a number of joint investment vehicles with sovereign funds such as the China Investment Corporation (CIC) and Qatar Investment Authority (QIA). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers […]


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