CalPERS Reports Preliminary 11.2% Return For FY 2016-17

The California Public Employees’ Retirement System (CalPERS) reported a preliminary annual return of 11.2% for its latest fiscal year ended June 30, 2017. CalPERS beat last fiscal year’s return of 0.61%. Listed equities for the latest reported fiscal year reported a return of 19.7%, an asset class that benefited from the late 2016 rally. In […]


SWFI First Read, July 14, 2017

ADNOC Explores Opening up Service Stations Unit The Abu Dhabi National Oil Company (ADNOC), a government-owned oil company, is looking to have an initial public offering (IPO) of its service stations unit. ADNOC considering all options for the service stations unit, including not having an IPO. ADNOC’s service station distribution includes an excess of 300 […]


SWFI – Movers and Shakers – July 14, 2017

Jerry Albright Takes CIO Helm at TRS Jerry Albright, the Deputy CIO of the Teacher’s Retirement System of Texas (TRS), was promoted to CIO following the departure of Britt Harris to UTIMCO. Fidelity Investments to Layoff Hundreds, Rejigs Fidelity Investments boasts more than 44,000 employees. The money manager is laying off hundreds of employees (news […]


ABP to Acquire 48 Assets from Dutch Infrastructure Fund

The Dutch giant Stichting Pensioenfonds ABP, which outsources its money management to APG Investment Management, acquired 48 projects from Schiphol-based Dutch Infrastructure Fund B.V. (DIF) in a €700 million transaction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Brazilian SWF Sells 12.7 Million Shares of Banco do Brasil

In May 2017, the Brazilian government announced its sovereign fund would be selling shares of Banco do Brasil SA, a state-owned bank, over the next 24 months to shore up resources. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Hopu-Led Group is Preferred Bidder for Global Logistic Properties

UPDATE: July 14, 2017 GIC has officially backed the offer made from the preferred bidder group led by HOPU Investment Management. Singapore-based Global Logistic Properties Ltd. (GLP), whose largest owner is Singapore’s GIC Private Limited, selected a preferred bidder for its takeover. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe […]


CPPIB to Own Large Portion of Ireland’s Natural Gas Production

The Corrib Natural Gas Field in Ireland is swapping out an owner. Discovered in 1996, the Triassic gas field is located 83 kilometers off the northwest coast of Ireland. The field lies in the Slyne Trough in Blocks 18/20 and 18/25. Most of the gas is composed of methane. [ Content protected for Sovereign Wealth […]


Sunsuper Makes Inaugural Direct Investment in Retail Property

Superannuation institutional investor Sunsuper embarked on its inaugural direct investment into retail properties. Sunsuper, through AMP Capital, acquired the Marketown Shopping Centre in Newscastle for 163 million AUD. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Temasek Continues Investment Shift, Reaches Net Portfolio Value of S$ 275 Billion

Singapore’s Temasek Holdings issued their 2016 annual review, the Temasek Review, revealing a record net portfolio value of S$ 275 billion. The sovereign investor generated dividend income of S$ 7 billion for the year ended March 31, 2017 – a figure 19 times Temasek’s interest expense for the entire fiscal year. Since 2014, Temasek had […]


Else Bos Leaves PGGM for De Nederlandsche Bank

De Nederlandsche Bank is the central bank of The Netherlands and has officially named a new executive director and chairwoman for prudential supervision. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


ETF GAME: CICC Buys a Majority Stake in Krane Funds Advisors

China International Capital Corporation Limited (CICC) is adding more capabilities to its product line by buying a majority 50.1% ownership stake in Krane Funds Advisors, LLC. Krane Funds Advisors is a New York-based asset manager known for its exchange-traded fund (ETF) product suite known as KraneShares. The deal also enables CICC a greater entry way […]


CIC Experiences AUM Growth in Overseas Investment Unit

The China Investment Corporation (CIC) released its 2016 annual report. Like many other peer sovereign fund reports, there was an emphasis on political uncertainty regarding powerful Western countries and how they had impacted returns for the 2016 fiscal year. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. […]


Daniel Garant Resigns from PSP Investments

Daniel Garant, the Chief Investment Officer of Canada’s Public Sector Pension Investment Board (PSP Investments), has resigned from his position. Garant was hired by PSP Investments in September 2008. Before PSP Investments, he was with Hydro-Québec. From 1991 to 1997, Garant was a Senior Manager in Private Equity at Caisse de dépôt et placement du […]


GIC Expresses Cautionary Approach for Future Investment Periods

Singapore’s GIC Private Limited recently released its annual report, embracing a cautious tone. The Singaporean wealth fund had a challenging run for its latest fiscal year in terms of performance. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


MetLife to Acquire Logan Circle Partners for $250 Million

Insurance giant MetLife Inc is moving forward in buying fixed income shop Logan Circle Partners from Fortress Investment Group LLC for US$ 250 million in an all-cash deal. The transaction is expected to close by the end of 2017. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. […]


Losing Key Clients, Lombardia Capital Partners Shutters

Pasadena-based Lombardia Capital Partners closed its doors as the money manager saw its assets shrink to roughly US$ 1 billion in assets under management, making it hard for the money manager enterprise to be profitable. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


New PGGM-Rockspring JV to Seek Value-Add Offices in Berlin

A renewed Berlin is attracting a wealth of technology companies and real estate investors are paying attention, feeding the demand for modern office spaces. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


sovereign wealth india

GIC Buys Shares of Gayatri Projects

Singapore’s GIC Private Limited acquired a 6.2% stake in Gayatri Projects Ltd., a listed infrastructure company in India, by purchasing 1.1 crore shares at around Rs 150 per share, for a total value of Rs 165 crore (US$ 25.526). Gayatri is involved in many ventures including energy generation. Gayatri has a venture with Sembcorp Utilities, […]


Egypt Plans Partial Privatization of ENPPI

Cairo-based Engineering for the Petroleum & Process Industries (ENPPI), Egypt’s state-owned oil company, plans to have an initial public offering (IPO). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, July 7, 2017

Blackstone Snags Firm Stake in Leonard Green & Partners The Blackstone Group LP, through one of its funds called Blackstone Strategic Capital Holdings, acquired a less than 15% minority stake in private equity firm Leonard Green & Partners. Blackstone was impressed with Leonard Green’s vast experience in the U.S. consumer market. Blackstone Strategic Capital Holdings […]


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