Temasek Allocates $150 Million in Indian Pharma Company

Singapore’s Temasek Holdings is investing 9.4 billion crore (US$ 151.4 million) in Mumbai-based Glenmark Pharmaceuticals Ltd. through its sovereign wealth enterprise Aranda Investments (Mauritius) Pte Ltd. Temasek is subscribing up to 10.8 million shares on a preferential basis for cash in the Indian drug manufacturer. Among sovereign wealth funds, Temasek is known for backing earlier [...]

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Institutional Investors Await Comcast-Time Warner Cable DOJ Outcome

Institutional investors are carefully watching for a signal from regulators and antitrust officials regarding the possible merger block of cable giant Comcast Corporation and Timer Warner Cable Inc. The US$ 45 billion merger was announced in February 2014. In February 2014, Comcast Chief Financial Officer Michael Angelaki said “we are optimistic and feel comfortable” that [...]

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Friday SWFI News Roundup, April 17, 2015

Ola Raises Money from Hedge Funds and Singapore Sovereign Wealth Fund Singapore’s GIC Private Limited invested in a US$ 400 million round in Ola, an Indian cab service. Ola is owned by ANI Technologies. Some other investors in the round are DST Global and hedge fund Falcon Capital Edge LP. QIA to Play Role in [...]

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India deals

India Rising: Canadian Pension Giants to Open Mumbai Offices

Canadian Prime Minister Stephen Harper met with Indian Prime Minister Narendra Modi to work on a number of commercial agreements to facilitate trade and investment between the countries. After the election of Modi, Canadian pensions, sovereign wealth funds and private equity firms have boosted capital toward Indian companies and real estate. Opening up Mumbai Offices [...]

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Saudi SOE Partners with Bunge to Buy Stake in Canadian Grain Handler

Saudi Arabia and its neighbors in the Gulf heavily rely on imported food. 80% to 90% of their food is imported. The kingdom’s neighbor, Qatar Investment Authority (QIA), created a unit to invest in farmland and other food opportunities called Hassad Food. Saudi Arabia has done the same. In 2011, late Saudi King Abdullah formed [...]

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Citadel Hires Bernanke as Senior Adviser

Former Federal Reserve Chairman Ben S. Bernanke has agreed to advise Citadel, a hedge fund founded by billionaire Kenneth C. Griffin. Bernanke was the face of the Federal Reserve for eight years, spanning February 2006 to January 2014. During his tenure at the central bank, he presided over the 2008 global financial crisis, an enormous [...]

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SWFI® NEWS, ARTICLES AND CURRENT ENTRIES

UPDATE: Ken Fisher Not Retiring From Investment Responsibilities

UPDATE: We were notified on April 16, 2015, that Ken Fisher will stay on as Chairman and Co-Chief Investment Officer of the firm. After stepping down as CEO, Fisher will remain a member of the firm’s investment policy committee with no change in his investment responsibilities. The title has been amended to reflect the change [...]


SHIFT: RidgeWorth to Target Sovereign Funds and Official Institutions

Atlanta-based RidgeWorth Investments, through its unit RidgeWorth International Ltd, is making a move to engage sovereign wealth and overseas public funds to boost assets under management. The asset manager is in the midst of redefining its marketing strategy after being spun off from SunTrust Banks. In late 2013, RidgeWorth Investments split from SunTrust Banks, selling [...]


ADIA Sells Shares in Deutsche Annington

Back in December 2014, Deutsche Annington Immobilien SE, a German real estate apartment company, announced its intentions to buyout all of Luxembourg-based realty company GAGFAH S.A. The combination of Deutsche Annington and GAGFAH creates a company that has a portfolio of 350,000 residential units, with a total portfolio value of €21 billion. Sovereign Wealth Investment [...]


2 Little Deals in India That Prove Sovereign Wealth Funds are Serious

Increasingly, sovereign wealth funds are participating in varying segments of India’s markets whether in startups, real estate development or infrastructure. For example, Singaporean sovereign funds have participated in investment rounds in e-commerce companies such as Snapdeal and Flipkart. On a higher level, government officials from India are contemplating trade ideas with surrounding countries. On April [...]


Kazakhstan’s Samruk-Kazyna Sees Opportunity in Silicon Valley

Kazakhstan’s Samruk-Kazyna, a strategic development sovereign wealth fund (SDSWF), is analyzing whether to open an overseas office in Silicon Valley. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Shell London

Norway’s SWF to Vote on Climate Change Disclosure for BP and Shell

Norges Bank Investment Management (NBIM), manager of Norway’s sovereign wealth fund, intends to vote in favor of special shareholder resolutions at the general meetings of energy titans BP and Royal Dutch Shell. These resolutions call for listed companies to detail risk and opportunities associated with climate change and have it incorporated into their annual reports. [...]


BIG MONEY: 3 Canadian Pension Cross-Border Real Asset Deals

Canadian pension institutional investors like OMERS and CPPIB continue their global search for long-duration, cash-flowing assets. #1. Mexican Infrastructure On April 13, Caisse de dépôt et placement du Québec (CDPQ) partnered with Mexican infrastructure company Empresas ICA, S.A.B. de C.V. by investing C$ 267.7 million in a joint venture for a 49% interest. Empresas ICA [...]


Australia FinMin Cormann Appoints 2 for Future Fund Board

Australian Finance Minister Mathias Cormann has appointed two members to the Future Fund’s Board of Guardian. These are 5-year terms. These members replace founding members Susan Doyle and John Mulcahy. See who works at the Future Fund Jane Wilson and Carloyn Kay have been appointed to the board of the Future Fund. Wilson is an [...]


CalPERS’ Tollette Wants to Eliminate Uncompensated Complexity

  The California Public Employees’ Retirement System (CalPERS) had its investment committee meeting in which Wylie Tollette, CalPERS’ chief operating investment officer, reported his findings to the board. In the board meeting, Tollette touched on the pension system’s ongoing effort to rein in investment costs – an effort initiated by the late CalPERS CIO Joe [...]


NZSF Files Portuguese Legal Proceedings Regarding Oak Finance Investment

The New Zealand Superannuation Fund (NZSF) announced it has filed legal proceedings in Portuguese courts against the Bank of Portugal – the country’s central bank. The sovereign fund is trying to recover US$ 150 million. According to a press release, the proceedings “challenge the validity of a Bank of Portugal decision which purported to ‘clarify’ [...]


HISTORY: CalPERS’ Stance on CA Legislative Actions on Pension Divestments

  The California Public Employees’ Retirement System (CalPERS) investment committee voted 11 to 1 to approve the investment staff’s recommendation on SB 185. CalPERS’ investment staff recommended to the committee that they take no official position on state legislation which calls on both pensions including CalSTRS to divest from coal companies. View Institutional Investor Profile [...]


Sovereign Wealth and Pensions Enticed by Collateral and CP Business

With expanded capital restrictions, especially when it comes to derivatives, traditional banking institutions are dealing with tighter balance sheets. The European Market Infrastructure Regulation (EMIR) and U.S. Dodd-Frank Act have modified the requirements for clearing and collateral. These laws promote the central clearing of standardized over-the-counter (OTC) derivatives contracts. The forced move toward central clearing [...]


Spotify Nears $8.4 Bil Valuation, Attracting Sovereign Wealth

  Spotify AB, a streaming-music platform, is raising its seventh round of capital approaching US$ 400 million for a private placement. This would value the song-streaming company at US$ 8.4 billion. Spotify raised US$ 250 million in its last round back in November 2013. Spotify, first launched in 2008, competes heavily against Pandora Media Inc. [...]


Sovereign Wealth Fund Increases Ownership in ILFS

The U.S. Department of Agriculture put out a projection for 2030, contending that India will go up in rankings and be crowned the third largest economy in the world behind China and the United States. India Prime Minister Narendra Modi was voted into power in 2014. After the widely-viewed election, billions worth of dollars of [...]


blackstone

GE Capital Slims: Asset Sales to Blackstone and Wells Fargo

GE is changing. The company is rapidly shrinking the size of its GE Capital unit (once a key revenue driver), while focusing on its industrial businesses which range from expensive medical devices to jet turbines. The U.S. corporate giant is targeting to have 90% of its earnings generated by industrial businesses in 2018, up from [...]


Leo de Bever

Norway’s Sovereign Fund Contemplates Infrastructure Allocation, Boosting Real Estate

The Norwegian Ministry of Finance is moving forward on assessing whether the sovereign wealth fund should boost allocation over its 5% cap in real estate and begin to invest in unlisted infrastructure. Norway’s Government Pension Fund Global (GPFG) made headways investing in properties in cities such as London, New York and Boston. The sovereign fund, [...]


Kurdistan Passes Oil & Gas Revenue Fund Law

In the city of Erbil, miles away from the ongoing ISIS conflict, Kurdistan’s Ministry of Natural Resources (MNR) was pleased with the passage of the Oil & Gas Revenue Fund Law by the Kurdistan parliament known locally as Perlemanî Kurdistan. To safeguard oil revenues, the MNR is keen on implementing the law as soon as [...]


Friday SWFI News Roundup, April 10, 2015

Does this cute cat have your attention? Here are the roundups for April 10th. Investment Corporation of Dubai Invests in 3 Luxury Hotels Gulf sovereign wealth funds are betting big on luxury hotel properties. The Investment Corporation of Dubai (ICD) invested in three luxury hotels – two in the United States and one in South [...]


superannuation

3 Large Sovereign Fund Cross-Border Bids Shaping the Industry

Bidders are quietly lining up as Australia’s New South Wales (NSW) government pushes forward on a plan selling leases on select infrastructure. NSW Premier Michael “Mike” Baird won a late March election, giving him a mandate to move forward with the lease sales. Essentially, the state government seeks to lease A$ 20 billion worth of [...]


SWFI – Movers and Shakers – April 8, 2015

SEC Exam Chief Bowden Leaves for Private Sector Securities and Exchange Commission (SEC) Exam Chief Andrew Bowden is leaving the agency at the end of April to return to the private sector. Bowden was head of the SEC’s Office of Compliance Inspections and Examinations, becoming director in June 2013. He joined the SEC in November [...]


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