Friday SWFI News Roundup, June 26, 2015

Caisse des Dépôts et Consignations Invests in Kingdom Holdings Saudi Arabia has been making moves to open up its listed equity market to foreign investors. French public institutional investor Caisse des Dépôts et Consignations, AXA and Orange SA invested US$ 150 million in Kingdom Holding Company (KHC). Furthermore, Caisse des Dépôts et Consignations and Kingdom [...]


Make Diversification your Beta

This article is sponsored by TOBAM. Yves Choueifaty, President and Founder of TOBAM, explains why concepts such as “smart beta” or “neutral portfolio” require clear definitions and how the Maximum Diversification® approach answers the need for beta. What is your definition of Smart Beta? What makes a beta smart? TOBAM is one of the founders [...]


Italian PM Renzi Eyes Role for CDP in Stimulating Domestic Economy

Italy Prime Minister Matteo Renzi has further plans to utilize the country’s large public institutional investor, Cassa Depositi e Prestiti (CDP), to stimulate economic growth and create jobs. Renzi is looking to follow the playbooks of France and Ireland. Several European countries have used strategic development sovereign wealth funds, state-owned funds and public pensions to [...]


Tank & Rast Still For Sale

Bonn-based Tank & Rast GmbH, the massive German autobahn service company, remains up for sale. The company is owned by both RREEF Infrastructure Funds and private equity firm Terra Firma. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Sovereign Wealth Fund Sports Wrap Up

Investing in sports teams can be a strategic development investment for sovereign wealth funds and pensions. For example, the government of Qatar made an ambitious effort to turn the Gulf region into a soccer powerhouse. Qatar Sports Investments (QSI) owns football club Paris Saint-Germain and inked deals with clubs such as FC Barcelona. The government [...]


ADIA and NYSTRS Put Atlanta Office Complex on the Market

The Abu Dhabi Investment Authority (ADIA) and New York State Teachers’ Retirement System (NYSTRS) are putting a large Atlanta office complex on the market. Eastil Secured is representing the sellers. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Mubadala Brazilian Iron Ore Port Loses Key Contract

Usinas Siderurgicas de Minas Gerais SA (Usiminas), one of Brazil’s largest steelmakers, moved to terminate its iron ore shipment contract with MMX Sudeste Port. Historically low prices of iron ore was a factor. The port is fighting back, taking all appropriate measures including arbitration. The contract was signed in February 2011. Sudeste Port is a [...]


The Current Relationship Status of Asset Owners and Bankers

Headline after headline, asset owners such as OMERS and Temasek Holdings are displacing private equity firms, taking majority positions in companies and real estate assets. Our Sovereign Wealth Fund Transaction Database shows a mounting upward trend from 2005 onward of public institutional investors going direct. 2015 has been a bumper year for direct investing. On [...]


Ivanhoé Cambridge and APG Drop $920 Million on Chongbang Group

Ivanhoé Cambridge, the real estate unit of Caisse de Depot et Placement du Quebec (CDPQ), and APG Asset Management N.V. together invested US$ 920 million in Chinese retail property firm Chongbang Group. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Saudi Arabian General Investment Authority and RDIF Sign $10 Billion Co-Investment MoU

Russia is strengthening its southern and eastern economic ties by forming co-investment alliances with countries such as China, South Korea, United Arab Emirates and Saudi Arabia. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


India deals

CPPIB Indian Property Venture Acquires SP Infocity IT Park

Canada Pension Plan Investment Board (CPPIB) and Mumbai-based Shapoorji Pallonji Group, through their joint investment unit SPREP Pte Ltd. (CPPIB owns 80% of the unit), is making its first investment acquiring 100% of the securities of Faery Estates Private Limited. India-based Faery Estates owns, operates and manages SP Infocity IT Park in Chennai, India. The [...]


state street

Major Investment Houses Announce New Executives

State Street Global Advisors (SSgA) appointed Greg Ehret as president. He was executive vice president and global chief operating officer for SSgA. The COO role is being removed. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Sovereign Wealth Funds and Russia

RDIF Leads Investors to Fund Largest Modern Russian Petrochemical Facility

The Russian Direct Investment Fund (RDIF) has led a group of global investors to agree to invest in the development of ZapSibNeftekhim, SIBUR’s integrated petrochemical facility in Tobolsk, Tyumen Region. Moscow-based SIBUR is a gas processing and petrochemicals company. This is RDIF’s largest infrastructure project its backing. Funding Details [ Content protected for Sovereign Wealth [...]


roads

4 Up and Coming Institutional Investor Deals in the UK

Sydney-based AMP Capital which already owns 25% of Angel Trains, a U.K. rolling stock lessor company, is nearing a deal to buy control of the company with other investors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Temasek and CVC Capital Partners Acquire Majority Stake in Alvogen

Singapore’s Temasek Holdings and private equity giant CVC Capital Partners are purchasing a controlling interest in New Jersey-based Alvogen, a generic drugs pharmaceutical company. The transaction values Alvogen at US$ 2 billion. Increasingly, institutional investors are spending more capital on healthcare company, specifically pharmaceutical companies. In Portuguese, alvo means target or goal. Subscribers Only: December [...]


AustralianSuper Completes Mega DC Property Portfolio Deal

AustralianSuper, Australia’s biggest superannuation fund, finalized its US$ 1.32 billion transaction to purchase a 49% interest in a portfolio of DC office properties controlled by Brookfield Property Partners. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Abu Dhabi Investment Council Shuffles Board and Management

The Abu Dhabi Investment Council (ADIC) was issued a royal decree which entails a slight restructuring of the fund’s board of directors. Sheikh Mohammed bin Zayed Al Nahyan was named chairman of the board of the ADIC. He is the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces. Mohammed bin [...]


SEC Targets State Street on Usage of Consultants and Lobbyists

The U.S. Securities and Exchange Commission (SEC) had served a Wells notice to Boston-based State Street Corporation. The notice is for informing State Street that SEC employees plan to ask the commission for authorization to bring a civil enforcement action that would allege violations of U.S. securities laws. It is important to note that receiving [...]


OMERS Buys The Kenan Advantage Group from GS and Centerbridge

Ontario Municipal Employees’ Retirement System (OMERS), through its private equity arm, has agreed to acquire Ohio-based The Kenan Advantage Group Inc., a provider of liquid bulk transportation services. OMERS is buying the company from Centerbridge Partners LP and Goldman Sachs Capital Partners, the private equity arm of Goldman Sachs. [ Content protected for Sovereign Wealth [...]


Norway’s Fiscal Rule Committee Debates SWF Withdrawal Practices

Norway’s Ministry of Finance has a committee that debates the fund transfers between the country’s sovereign wealth fund and government. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


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