SouthGobi Executes New Deferral Agreement with CIC

On December 20, 2016, SouthGobi Resources Ltd., which owns and operates its Ovoot Tolgoi coal mine in Mongolia, announced the execution of a new deferral agreement with Land Breeze II S.à r.l., a sovereign wealth enterprise of the China Investment Corporation (CIC). This modified a revised payment schedule of US$ 20.7 million of cash interest […]


U.S. DOJ Slaps Volkswagen over Emissions-Cheating Scandal

German automaker Volkswagen AG is mired one of the costliest corporate scandals in world history. On January 11, 2017, the U.S. Department of Justice (DOJ), along with other U.S. agencies reached an agreement with Volkswagen on a number of charges after a 16-month investigation. The German auto giant was charged in the United States in […]


Quantum Global Fund Acquires Movenpick Hotel from Kingdom Holdings Company

A fund managed by Quantum Global has acquired the Mövenpick Ambassador Hotel Accra from Saudi Arabia-based Kingdom Holding Company (KHC). Specifically, QG Africa Hotel LP, a Mauritius based investment fund managed by Quantum Global Investments Africa Management Ltd., acquired the hotel on December 28, 2016 for a consideration of US$ 100 million. QG Africa Hotel […]


Why Global Logistic Properties May Be Taken Private

With more supply chain efficiencies, fast-growth in e-commerce throughout Asia, the availability of long-term patient capital (sovereign funds and pensions), and significant consolidation by third-party logistics companies, the market for modern logistics is sure to be more concentrated. A merger between GLP and e-Shang Redwood Group would create an Asian warehouse behemoth rivaling competitors such […]


SOFAZ to Transfer $4 Billion for Currency Stabilization Purposes

A predicted increase in U.S. interest rates is wrecking havoc in countries such as Turkey and Azerbaijan. Azerbaijan President Ilham Aliyev issued a decree to transfer up to 7.5 billion manat (US$ 4 billion) of assets from the State Oil Fund of Azerbaijan (SOFAZ) to the Central Bank of the Republic of Azerbaijan in 2017. […]


SWFI First Read, January 11, 2017

Image Credit: CSPAN U.S. President Barack Obama gives his farewell speech in Chicago at McCormick Place. Vontobel Asset Management Hires Suzanna Wong for Int. Sales for Asia Vontobel Asset Management hired Suzanna Wong as head of intermediary sales for Asia. Wong was Regional Head for Asia-Pacifc at Banque SYZ, a Swiss private bank, since 2014. […]


Another American Wind Investment Stumble for Foreign Asset Owners

Wind renewable investments are creating more headwinds for foreign asset owners. A joint company called Papalote that is owned by PensionDanmark and German energy giant E.ON is going to U.S. court to attempt a recovery of roughly US$ 300 million in losses over a dispute. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers […]


Himalaya Capital Wins Global Equity Mandate from San Francisco ERS

The San Francisco City & County Employees’ Retirement System (SFERS) is gradually increasing its asset allocation toward Asian investments in both public and private markets. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Rosneft Inks Oil Supply Deal with QHG Trading LLP

Russian oil giant Rosneft finalized its agreement with QHG Trading LLP, a company tied to the Qatar government and commodities trader Glencore Plc. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Oman Explores Idea of GCC Peers to Deposit Dollars into Central Bank

Oman’s Ministry of Finance is working with its Gulf Arab counterparts on receiving a multi-billion dollar deposit into its central bank. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Bpifrance Backs Marine Renewable Energies

Paris-based DCNS S.A., an industrial group specialized in naval defence and energy, and Bpifrance’s fund called Société de Projets Industriels (SPI) formed DCNS Energies. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, January 10, 2017

Marty Chavez Named CFO of Goldman Sachs R. Martin “Marty” Chavez was named Chief Financial Officer at Goldman Sachs. Previously, Chavez was Chief Information Officer at Goldman Sachs. Chavez joined Goldman Sachs in 1993 in the J. Aron Currency and Commodities division. From 1997 to 2000, he was Global Head of Energy Derivatives at Credit […]


BlackRock Overtakes UK Gov as Top Shareholder in Lloyds

Asset manager giant BlackRock is now the largest shareholder in Lloyds Banking Group, overtaking the U.K. government. The U.K treasury, through UK Financial Investments, maintains a 5.95% ownership share in Lloyds Banking Group. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Qatar Sovereign Wealth Invests in Turkish Poultry Producer

Brazilian food processor BRF SA and the Qatar Investment Authority (QIA) are partnering to acquire the operations of Turkish poultry producer Banvit Bandirma Vitaminli Yem Sanayii A.S. (Banvit). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Why CPPIB and Ares Withdrawing Neiman Marcus from its IPO is a Big Deal

Are large-chain physical retail stores decaying in North America? Are financial investors failing department store retail? Direct institutional investors such as the Canada Pension Plan Investment Board (CPPIB) and other private equity firms plugged in mounds of capital into department store companies in North America. Will these significant financial bets pay off? The bad news […]


Chinese Foreign Reserves End Year Slightly Above $3 Trillion

China policymakers appear to be preferring implementing capital controls in the country instead of blazing through their massive pool of foreign exchange reserves to guard the yuan. For example, the Chinese government increased paperwork for the country’s citizens seeking to use their annual US$ 50,000 foreign exchange maximum. More strict capital controls could be underway. […]


SWFI First Read, January 9, 2017

Former Iranian President Ayatollah Ali Akbar Hashemi Rafsanjani Passes at Age of 82 Former Iranian President Ayatollah Ali Akbar Hashemi Rafsanjani, born to a family of pistachio farmers and one of the founders of Iran’s Islamic republic, has passed away at the age of 82 on January 8, 2016. Before this passing, Rafsanjani was Chairman […]


Hyundai Marine & Fire Insurance to Help Finance L’Oréal Office Building Acquisition

In late December 2016, South Korea-based Vestas Investment Management Co. Ltd. was chosen as the preferred buyer of the L’Oréal office building in Levallois-Perret which is a northwestern suburb of Paris. The building is called the So Ouest Plaza. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. […]


SWFI First Read, January 7, 2017

U.S. President-elect Donald J. Trump was formally certified as the winner of the U.S. presidential election on Friday. ISS Acquires IW Financial Institutional Shareholder Services Inc. (ISS) is acquiring Portland, Maine-based IW Financial, a provider of environmental, social, and governance (ESG) research, consulting, and portfolio management solutions. Theranos to Fire 41% of Staff Palo Alto-based […]


Follow the Money – Episode 29

In the first Follow the Money – Global Connections episode of the New Year, Rachel Pether has a conversation with David Meredith of Hassad Food, which is part of the Qatar Investment Authority (QIA). Hassad Food is Qatar’s premier investor in the food and agri-business sectors. Pether and Meredith discuss direct investments, trade, investments in […]


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