BlackRock NY

FAIL: BlackRock Closes Global Macro Fund

Another casualty has been recorded in the global macro fund industry. Other asset manager giants have shuttered funds this year including Bain Capital and Fortress Investment Group, LLC. The world’s largest asset manager is shuttering its global macro fund after lackluster investment performance. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please [...]

BIG DEAL: CDPQ Invests in Bombardier’s Rail Transportation Business

Caisse de dépôt et placement du Québec (CDPQ) has engaged in a big transaction with Montreal-based Bombardier, a manufacturer of both planes and trains. CDPQ signed an agreement to invest C$ 1.5 billion into convertible shares of Bombardier Transportation (Investment) UK Ltd., a new holding company that owns the assets of Bombardier’s current Transportation business [...]

SWFI First Read, November 19, 2015

Mumtalakat Forms JV with Synergies Castings Limited Bahrain’s Mumtalakat Holding agreed to form a joint venture with India-based Synergies Castings Limited, a company that focuses on aluminium casters and manufacturers of alloy wheels, to build an aluminium casting and specialty alloy wheel manufacturing facility in Bahrain. The development will be at the new molten metal [...]

sovereign wealth india

Reliance Infrastructure Agrees to Sell Mumbai Electricity Minority Stake to PSP Investments

Reliance Infrastructure Ltd., part of the Reliance Anil Dhirubhai Ambani Group, has signed an agreement to sell a 49% stake in its Mumbai electricity business to the Public Sector Pension Investment Board of Canada (PSP Investments). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

3 Ways Asset Owners Are Preparing for Slower Global Growth in Fixed Income

Last week, the Organization for Economic Co-operation and Development (OECD) lowered its estimate on worldwide gross domestic product for a second time in three months. OECD forecasted the global economy would grow by 2.9% versus 3% this year – and a lower 3.3% in 2016 from 3.6%. A major reason for the revised projection is [...]

SWFI First Read, November 17, 2015

ChemChina Approaches CIC for Financial Backing in Syngenta Proposed Acquisition State-owned China National Chemical Corporation (ChemChina) reached out to the China Investment Corporation (CIC) for financial assistance regarding the attempted acquisition of Syngenta AG, a Swiss pesticide manufacturer. Sankaty Advisors Buys 4 CLOs from Regiment Capital Advisors Sankaty Advisors, the global credit affiliate of Bain [...]


As Blackstone Grows, Real Risk Expands

From humble beginnings in the 1980s, The Blackstone Group has gradually transformed itself into an alternatives powerhouse. Unlike other listed private equity companies, Blackstone has expanded significantly after its initial public offering (IPO). Blackstone is not only well known for being a major private equity player, but also an influential real estate buyer. Recent transactions [...]

SWFI First Read, November 16, 2015

PRESSURE: PEMEX Scraps DB for DC Mexico-based PEMEX, the massive state-owned oil company, is near closing its defined benefit plan to new employees. PEMEX is one of Mexico’s largest employers and has been struggling due to the low price of oil and decreased country production. PEMEX has around US$ 90 billion in pension liabilities. PEMEX [...]

APG, CPPIB Form Korean Logistics Platform with E-Shang and Kendall Square Logistics Properties

Institutional investors such as Canadian pensions and wealth funds have formed Asian logistics joint ventures over the past few years to enhance exposure in a growing sector influenced by e-commerce. Asian markets like South Korea have illustrated demand for modern warehouses due to greater domestic consumption. [ Content protected for Sovereign Wealth Fund Institute Standard [...]

Possible Rough Road for Invesco Perpetual

Gulf institutional investors such as sovereign wealth funds have pulled back as more asset allocators demand lower fees and begin flowing more investments into smart beta products. Invesco Perpetual, part of the Invesco empire, is one of the largest investment managers in the United Kingdom, with strong ties to the retail investment space. The firm [...]

SWFI First Read, November 15, 2015

AEW and CIC Get Financing on Celsius Portfolio Deal The China Investment Corporation (CIC) and AEW received 670 million in financing for their acquisition of the Celsius Portfolio – a portfolio of interests in the Waasland and Wijnegem shopping centres and eight other properties in France. The financing was arranged and underwritten by ING and [...]

Canadian Pension Giants Buy Chicago Skyway Toll Lease

The Canada Pension Plan Investment Board (CPPIB), Ontario Teachers’ Pension Plan (OTPP) and Ontario Municipal Employees’ Retirement System (OMERS) have acquired Skyway Concession Company LLC, the operator of the Chicago Skyway toll road for a combined price of US$ 2.8 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to [...]

Korean Sovereign Wealth Fund Helps Finance New Google Campus

The Korea Investment Corporation (KIC) reportedly is financing US$ 149 million into the development of a Google campus in Sunnyvale, California. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Friday SWFI News Roundup, November 13, 2015

Qatar Government Buys Palais Clam-Gallas Palais Clam-Gallas, an Austrian neoclassical palace in Vienna, has been sold to the Qatar embassy. The property reportedly fetched a €30 million price tag. Palais Clam-Gallas was constructed in 1834 as a summer residence for Prince Franz Joseph von Dietrichstein. The French government acquired the iconic palace in 1951 and [...]

doha sovereign wealth fund

Moody’s States SWFs Support Sovereign Creditworthiness

Having a substantial sovereign wealth fund is a good thing for many fossil fuel dependent developing economies. These intergenerational savings vehicles can provide a cushion for government finances in times of oil price volatility. Moody’s recently issued a report, “Sovereign Wealth Funds: Sizeable Assets Provide Important Fiscal Buffers Against Lower Oil Revenues” which highlights sovereign [...]


CalPERS to Sell $3 Billion in RE Interests to Blackstone

The California Public Employees’ Retirement System (CalPERS) has reached a deal with The Blackstone Group to sell US$ 3 billion worth of global real estate limited partnership interests. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

QIA-Ascott JV Purchase Tokyo and Paris Properties

Sovereign wealth giant Qatar Investment Authority (QIA) and Singapore-based CapitaLand, a listed real estate company, formed a joint venture in July 2015. CapitaLand’s unit called The Ascott Limited’s and QIA purchased two prime properties in Paris and Tokyo for US$ 104 million. The joint venture will invest an additional US$ 33 million to convert the [...]

MetLife Investment Management to Woo Sovereign Funds

MetLife Investment Management, LLC, the investment arm of U.S. mega insurer MetLife Inc., is seeking to capitalize on institutional investors thirst for yield. The investment unit desires to augment its assets under management by offering new products and services to large pensions, other insurers and sovereign funds. For example, MetLife Investment Management has partnered with [...]

Kuwait Sovereign Fund Realigns Tech Portfolio

  National Technology Enterprises Company (NTEC) is a sovereign wealth enterprise (SWE) of the Kuwait Investment Authority (KIA) that was formed in November 2002 and operational by late 2004. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

CalPERS Awards $6 Billion in Equity Mandates

The California Public Employees’ Retirement System (CalPERS) awarded three equity mandates totaling US$ 6 billion to three fund managers.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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