USAA Sells Industrial Portfolio to Middle East Sovereign Wealth Fund

In April 2014, USAA Real Estate Co., the real estate investment unit of USAA, launched a search to find a buyer for its 14 million square feet of warehouses scattered across the southern region of the United States. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


GPIF Chooses Coller Capital Partner for Investment Committee Spot

Japan’s Government Pension Investment Fund (GPIF), US$ 1.27 trillion in size, chose Hiromichi Mizuno to join the fund’s investment committee. Based in London, Mizuno replaces Kimikazu Nomi, CEO of a state-backed investment group called Innovation Network Corporation of Japan. Nomi’s term expired earlier in July. See Key Executives and People – Japan’s GPIF [ Content [...]


Ireland

Carlyle Cardinal Ireland Fund Gets €292 Million

The Carlyle Group and Cardinal Capital Group on July 14, 2014, had a final close of Carlyle Cardinal Ireland Fund which raised €292 million. Founded in 2003 by Nigel McDermott and Nick Corcoran, Cardinal Capital Group is an investment management firm with offices in London and Dublin.[ Content protected for Sovereign Wealth Fund Institute Standard [...]


Friday SWFI News Roundup, July 18, 2014

Aquila Capital and APG Create Hydropower Investment JV APG Asset Management and Hamburg-based Aquila Capital have created a partnership to invest €500 million toward European hydropower plants. The Dutch pension fund asset manager will contribute €250 million to the joint venture to make investments in operational plants and greenfield projects. Aquila Partners will provide the [...]


Bidders for South Korea’s Parnas Hotel Line Up

Institutional investors are bidding for a majority stake in South Korea’s Parnas Hotel Co Ltd. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Pension and Wealth Fund Capital Invests in LaSalle Asian Fundraise

LaSalle Investment Management, a subsidiary of Jones Lang LaSalle, announced a US$ 1 billion close for its LaSalle Asia Opportunity Fund IV L.P. and two other separate accounts. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Norway Sovereign Wealth Fund Looking for Real Estate Strategies Professional

As Norway’s Government Pension Fund Global (GPFG) augments activity in direct real estate investments, the need for internal resources is growing. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


BRICS Making a Bank, RDIF Gets Involved

The BRICS (Brazil, Russia, India, China and South Africa) nations are making their own bank – countering the influence of the International Monetary Fund (IMF). The BRICS member nations have been disappointed with the non-implementation of the 2010 IMF reforms. Leaders of the nations signed an agreement to create the New Development Bank (NDB) to [...]


What if ADIA Took BlackRock Private?

The Abu Dhabi Investment Authority (ADIA) is the largest sovereign wealth fund in the Middle East. The sovereign fund has a mandate to invest overseas, utilizing some of the most respected asset managers in the industry. In rare circumstances, sovereign wealth funds and pensions take equity interests in asset management firms. This is a case [...]


CalPERS and CalSTRS Post Annual Returns Above 18%

The California Public Employees’ Retirement System (CalPERS) returned 18.42% for the fiscal year that ended on June 30th. CalPERS defeated its custom benchmark of 17.98% and surpassed last fiscal year’s return of 13.2%. The private equity portfolio of CalPERS generated 19.99% returns, just 3.31% shy of the benchmark. The asset classes of real estate and [...]


Citigroup Banking

Citigroup Capitulates, Agrees to Payout 7 Billion in Fines and Consumer Relief

Citigroup was part of a group of U.S. lenders being investigated by the U.S. Department of Justice (DOJ) for allegedly misrepresenting the quality of mortgage-backed securities sold prior to 2008. Institutional investors such as pensions and sovereign wealth funds invested in these instruments, either directly or through external fund managers. [ Content protected for Sovereign [...]


Qatari Diar to Own Seef Lusail Real Estate Development

Qatar-based Masraf Al Rayan is selling its 50% stake in Seef Lusail Real Estate Development Company to its joint venture partner which is a unit of Qatari Diar. The remaining 1% was sold to Qatari Diar Real Estate Investment Company. Masraf Al Rayan, Qatar’s largest Islamic bank by market value, had owned the development equally [...]


Qatar Sovereign Wealth Finalizes Deal in Moscow Real Estate

Gazing North, Qatar’s sovereign wealth fund has been making larger inroads into Russia. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Academic-Led Study Says Professors on Boards Help Performance

Are corporate directors from the academic world effective board members? A discussion paper concludes that companies that have directors from the academic world (specifically non-administrative academics) are associated with higher performance. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


UPDATE – Deal Canceled – on Meguro Gajoen

UPDATE – July 11, 2014 GIC Private Limited has backed out of buying the Tokyo property due to a dispute between two other groups involving land. Lone Star Funds was close to selling the property to the Singapore sovereign wealth fund. Singapore sovereign wealth fund, GIC Private Limited, beat out other institutional investors to acquire [...]


Update: Ex-CalPERS CEO Admits Taking Cash Bribes

Fred Buenrostro, the former CEO of CalPERS, pleaded guilty today to a charge of conspiracy to commit bribery and fraud. Furthermore, Buenrostro admitted taking US$ 200,000 in cash bribes from his former colleague Alfred Villalobos. He took the cash through a shoe box and paper bags. Other benefits include casino chips. In return, Buenrostro attempted [...]


Friday SWFI News Roundup, July 11, 2014

Illinois State Board of Investment Terminates William Blair for Bad Performance The Illinois State Board of Investment terminated a US$ 580 million active U.S. midcap growth equities mandate being managed by Chicago-based William Blair & Co. William R. Atwood, executive director of the pension entity, stated it was due to performance reasons. The fund proceeds [...]


Qatar Holding Moves to Sell 5 Percent of LSE Holdings

Qatar Holding, a sovereign wealth enterprise of the Qatar Investment Authority, is planning to sell down its 15% stake in the LSE Group, owner of the London Stock Exchange. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Dubai

ADIA Looks to Dump 2 Billion in Private Equity Secondaries

Institutional investors such as public pensions, financial institutions and sovereign wealth funds eye secondary market sell-offs to reconfigure private equity portfolios.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Wealth Funds Plow Money into Chinese Logistics

The Norwegian, Singaporean and Chinese sovereign wealth funds are not the only big institutional investors moving capital into logistics properties and warehouses. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


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