SWFI First Read, March 20, 2017

Bakheet Al Katheeri Promoted to Chief Executive for Mubadala Petroleum Bakheet Al Katheeri was named the new Chief Executive for Mubadala Petroleum. This move is part of the massive reorganization of the merger between International Petroleum Investment Company (IPIC) and Mubadala Development Co. Al Katheeri was the Chief Growth Officer of Mubadala Petroleum. Before Mubadala […]

China and the U.S.: The Next Two Years for Institutional Investors

A lot can happen in two years. Look what just happened in the final five months of 2016. Even the most sophisticated of financial pundits and asset manager CEOs were hard pressed to believe a Trump rally would actually occur in late October 2016 given the momentous news cycle of 2016. Chief investment officers, both […]

Trinidad & Tobago Government Withdraws $251 Million from Heritage and Stabilization Fund

Depressed oil prices have exerted enormous pressure on the fiscal budget of Trinidad & Tobago, creating revenue shortfalls. On March 16, 2017, a budget move was approved to withdraw TT$ 1,712,200,000 (US$ 251 million) from the country’s Heritage and Stabilization Fund (HSF). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe […]

Follow the Money – Episode 34

In mid-March, Rachel and Michael roll back into Follow the Money, talking about luxury retail and infrastructure investments. Rachel talks about investment partnerships and Turkey’s wealth fund. Download the Episode CONTENTS 0:55 Neiman Marcus Story 4:15 Chatting About E-Commerce 5:30 Mubadala Updates 8:18 Sovereign Funds and Inflation Strategies 12:15 Hedging Cash Flows and Investment Partnerships […]

Once Scorned, Sovereign Investors Take Another Look at U.S. Banks

Remember when sovereign funds bailed out many of the large global banks during the 2007-2008 financial crisis. For several wealth funds, such as the Korea Investment Corporation (KIC), the massive bank bailouts have been a drag on annual portfolio performance. The Abu Dhabi Investment Authority (ADIA) even pursued litigation over Citigroup regarding its US$ 7.5 […]

Local Gulf Capital Joins the Chorus to Target U.S. Residential RE

Dubai-based Trucial Investment Partners Limited, which is a spin-out of the Dubai International Capital private equity team, is in the midst of forming ventures with local partners. In January 2017, Trucial Investment Partners entered into a strategic partnership with Bahrain-based Securities & Investment Company (SICO). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers […]

CDPQ and KKR to Acquire USI Insurance Services

Caisse de dépôt et placement du Québec (CDPQ) and private equity firm KKR & Co., along with USI employees, are jointly buying Valhalla, N.Y.-based USI Insurance Services LLC from Onex Corporation for an enterprise value of around US$ 4.3 billion. Excluding debt, the deal comes to roughly US$ 2 billion. CDPQ and KKR will have […]

CDPQ Provides Term Loan for Mont Sainte-Marguerite Wind Farm

On March 7, 2017, the Caisse de dépôt et de placement du Québec (CDPQ) had announced a C$ 90 million term-loan financing as part of the construction of the Mont Sainte-Marguerite wind farm project. The wind farm project is located in the Chaudière-Appalaches region, 50 kilometers south of Québec City. [ Content protected for Sovereign […]

private equity

Sovereign Wealth Capital Invests in Moximed

Hayward, California-based Moximed, Inc., a developer of unicompartmental load absorber implants for active patients with painful knee osteoarthritis (OA), raised a US$ 50 million Series C round. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

GIC Backs Self-Driving Electric Car Manufacturer in China

Tesla Motors and other electric car manufacturers have garnered the attention of sovereign wealth capital. Shanghai-based electric car maker NIO, formerly known as NextEV, raised 600 million RMB (US$ 86 million) in a funding rounding led by Shenzhen-based Tencent Holdings Ltd. and Baidu Inc. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. […]

OIF Nears Syndication Deal for Omantel Acquisition

The Oman Investment Fund (OIF) is in the midst of finalizing its complete syndication of a 5-year, US$ 600 million loan. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Scion Venture Kicks in Roughly $1.6 Billion in U.S. Student Housing

The housing venture Scion Student Communities LP, mostly backed by wealth fund and pension capital, acquired three U.S. student housing portfolios for approximately US$1.6 billion. The venture is comprised of Canada Pension Plan Investment Board (CPPIB), Singapore’s GIC Private Limited and The Scion Group LLC. CPPIB and GIC each own a 45% interest in the […]

SWFI First Read, March 16, 2017

Elo, AP1 and Trevian Asset Management Form Finnish RE Joint Venture Elo Mutual Pension Insurance Company, Första AP-fonden (AP1) and Trevian Asset Management Oy have agreed to establish a €400 million joint venture company which invests in the Finnish property market. The venture will target mostly city center retail and office properties in major Finnish […]

Federal Reserve Hikes Rates for Third Time in 11 Years

In a move widely anticipated by global financial markets, the U.S. Federal Reserve decided to raise its benchmark lending rate a quarter point. This takes the overnight funds rate to a target of 0.75% to 1%. In addition, the Federal Reserve signaled two more interest rate increases this year. [ Content protected for Sovereign Wealth […]

Would ADIC and Ontario Teachers Approve of a Neiman Marcus Takeover?

North American luxury department stores are struggling for a variety of reasons including the hegemonic demise over high-end products thanks to e-commerce businesses and consumer spending habits. Neiman Marcus Group LLC, the luxury retailer store business, is up for sale, according to various media reports including The Wall Street Journal. Neiman Marcus is owned by […]

CDPQ Invests in Datamars

Caisse de dépôt et placement du Québec (CDPQ) made a major investment in Switzerland-based Datamars SA, a company founded in 1988 that focuses on the identification of animals and textiles using technology such as called radio-frequency identification (RFID) microchips. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. […]

RDIF Inks Deal with Armenia Forming Russia-Armenia Investment Fund

The Russian Direct Investment Fund (RDIF) has formed the Russia-Armenia Investment Fund alongside the Armenian state-owned company SME Investments. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Borealis and Wren House Let Macquarie Exit Thames Water

Borealis Infrastructure, an infrastructure unit of OMERS and Wren House, the infrastructure unit of the Kuwait Investment Authority (KIA), have agreed to acquire a 26% ownership stake in Kemble Water Holdings Limited, the holding company of U.K. water company Thames Water, from Macquarie. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please […]

Vista Equity Plans to Combine Misys and DH Corporation

Private equity firm Vista Equity Partners LLC, founded by Robert Smith, inked a deal to acquire Toronto-based DH Corporation for roughly C$ 4.8 billion in enterprise value beating out rival Advent International. The purchase amount excluding debt is about C$ 2.72 billion. Vista Equity is combining DH Corporation with Misys Ltd., creating a diversified financial […]

SWFI First Read, March 14, 2017

PremjiInvest Participates in Series B in iD Fresh Food Bengaluru-based iD Fresh Food (India) Pvt. Ltd., which was formed in 2006, raised US$ 25 million in a Series B round from PremjiInvest, a family office. iD Fresh Food is a maker of ready-to-cook dosa and idli batter. J.P. Morgan Asset Management Wants in on Smart […]

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