SWFI – Movers and Shakers – November 12, 2014

Nikko Asset Management Boosts MENA and Asia Teams Nikko Asset Management has hired three executives to boost operations and sales globally. The firm has hired Ian Lewis who will be head of global consultant relations. Lewis will be based in Singapore. He was a partner at London-based Ardevora Asset Management LLP. Nikko hired John Howland-Jackson [...]

Why Sovereign Wealth Funds Were Smarter Than Yahoo Shareholders

Sunnyvale-based Yahoo was founded by hungry entrepreneurs, Jerry Yang and David Filo. Post dot-com-boom, Yahoo had acquired, sold and shuttered many high-profile acquisitions such as Geocities, Overture Services, Hotjobs.com, Right Media and Broadcast.com (which made Mark Cuban very rich.) In 2013, Yahoo paid US$ 1.1 billion for a blog service called Tumblr, founded by young [...]

CPPIB Buys Apax Europe VII Stake from SL Capital Partners

Increasingly, sovereign wealth funds and large pensions are seeking secondaries, developing internal resources and hiring consultants to assist with the process. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

new york asset management

Neuberger Berman Hires Former McKinsey Executive for Client Service Role

Neuberger Berman has hired Celine Dufetel as managing director and head of client service. Dufetel fills in Lori Holland’s role who moved on to managing director of the Multi-Asset Class (MAC) team. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Sir Rocco Forte’s Hotel Group Gets Investment from FSI

Fondo Strategico Italiano, the Italian Strategic Fund (FSI), is investing capital into Sir Rocco Forte’s empire, Rocco Forte Hotels. FSI Investimenti, a joint venture between the FSI and the Kuwait Investment Authority (KIA), and FSI are investing £60 million into the hotel group for a 23% stake in the company. FSI Investimenti is about 77% [...]

Dream Team: JP Morgan Brings on Former Australia PM for Council

JP Morgan’s International Council was formed in 1965 to assist the bank’s leadership on global trends and changes. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Sovereign Wealth Funds Poised to Reach $7 Trillion by 2015

As of November 2014, sovereign wealth fund assets totaled US$ 6.977 trillion compared to US$ 6.106 trillion in December 2013. This nearly US$ 900 million increase can be attributed by improvements in investment returns and capital flows into sovereign wealth fund vehicles. In December 2007, sovereign wealth fund assets amounted to US$ 3.259 trillion. This [...]


UK Osborne Keen on Shale Gas-Backed Sovereign Wealth Fund

George Osborne, UK Chancellor of the Exchequer, commented on BBC Radio 4 that shale gas extraction revenues could be held in a sovereign wealth fund. The UK is looking at ways to lower its dependence on oil imports, while creating a savings vehicle from taxable earnings, like its northern neighbor Norway. Osborne said, “That’s a [...]

AXA Wins €400 Million SRI Bond Mandate from ERAFP

The French Public Service Additional Pension Scheme (ERAFP) has awarded a SRI bond mandate to a fund manager. The approximately €14 billion pension fund was formed in 2005 and manages investments based on SRI principles. The fund has adopted an SRI Charter based on 5 fundamental values: respect of the right of law and human [...]

With Greater Egyptian Stability, Aabar Invests in Real Estate Development Company

Aabar Investments PJS, owned by International Petroleum Investment Company (IPIC), has acquired a 5.1% stake in the second largest real estate developer listed on the Egyptian Stock Exchange. Aabar purchased the stake in Palm Hills Developments Company SAE. Aabar will nominate a representative to the board of Palm Hills Developments. Palm Hills Development has a [...]

IPIC and Orascom Construction Seek to Build Coal-Fired Plant in Egypt

International Petroleum Investment Company (IPIC) and Orascom Construction, an Egyptian engineering and construction firm, have plans to develop, build and run a coal-fired power plant in Egypt. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Friday SWFI News Roundup, November 7, 2014

Songbird Rejects QIA and Brookfield Takeover Offer The Qatar Investment Authority (QIA) and Brookfield Property Partners have reached out to Songbird Estates, the 69.4% owner of Canary Wharf real estate development, in a bid for takeover. Songbird Estates is partially-owned by sovereign funds such as QIA and the China Investment Corporation. On Friday, Songbird Estates [...]


RESILIENCE: Latin American Private Equity Funds Draw Institutional Investors

Latin America, despite cycles of economic and political instability, has a growing middle class. The Latin American private equity market has moved from “niche” to becoming an important component of PE diversification. Global private equity shops have setup offices in cities across the region. Advent International just closed its US$ 2.1 billion fund Advent Latin [...]

India deals

Institutional Investors Request India to Join Euroclear

Overseas institutional investors have been requesting India to join Euroclear to allow them easier access to Indian debt. As U.S. borrowing costs are expected to climb, Indian bonds are predicted to be an attractive asset for institutional investors. In October, the Indian government reported the slowest inflation in roughly 3 years. Indian Prime Minister Narendra [...]

BMO Global Asset Launches ETFs in Hong Kong

BMO Global Asset Management is the first Canadian bank to launch exchange-traded funds (ETF) in Hong Kong. Increasingly, institutional investors are being drawn to Asian ETFs. BMO’s ETF division has grown to 62 funds. The asset manager is introducing three ETFs in Hong Kong: BMO Asia USD Investment Grade Bond ETF, BMO Hong Kong Banks [...]

CalPERS Commits $80 Million to Grosvenor for CA Mezzanine Program

The California Public Employees’ Retirement System (CalPERS) has committed US$ 80 million to Chicago-based GCM Grosvenor. The new commitment will be funneled through a direct investment vehicle before the close of 2014. The vehicle, California Mezzanine Investments, will use mezzanine debt to finance California companies. The fund will be managed by Grosvenor’s Private Markets unit. [...]

SWF Partnership: KIC and QIA Form Joint Investment Fund

Increasingly, sovereign wealth funds from the East and the Gulf are creating joint investment funds. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

SWFI – Movers and Shakers – November 5, 2014

Morgan Stanley Appoints Former CIA to Board Morgan Stanley has hired Jami Miscik to its board of directors. Miscik is president and vice chairman of Kissinger Associates, Inc, a strategic consulting firm founded by former US Secretary of State Henry Kissinger. Before Kissinger Associates, Miscik had worked for the Central Intelligence Agency (CIA) for 20 [...]


Denmark’s ATP Forms Special Situations Unit

Denmark’s ATP has five risk classes: interest rates, credit, equities, inflation and commodities. The ATP is forming a unit to focus on “non-traditional assets.” [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

GOP Takes Senate: How Will Institutional Investors Respond?

Yesterday, U.S. voters spoke across America during Election Day, giving the GOP control of the U.S. Senate. From various leading polls, Democrats knew they were in trouble weeks before election night. Democrat operatives felt last night’s election was a natural disaster, losing their majority in the Senate. Looking at current figures, Republicans are on the [...]

RFPs, Allocations and Opportunities

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