Are You Allocated to a Private Equity Firm Ranked in this Study?

Since 2009, Professor Oliver Gottschalg of Paris-based HEC Business School, also known as école des Hautes Etudes Commerciales de Paris, has put out an annual ranking on top performing private equity firms. The 2014 HEC-DowJones Private Equity Performance Ranking illustrates private equity firms’ historic performance and expected “future competitiveness” based on a number of criteria. [...]


SAMA Acquires Shares in Korean Shipbuilder

The Saudi Arabian Monetary Agency (SAMA) has acquired a 7.26% stake in Hyundai Mipo Dockyard Co. Ltd, a South Korean tanker specialist, over a series of open market transactions. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Temasek Trims Holdings in China Construction Bank

Singapore’s Temasek Holdings has sold HK$ 354 million worth, 54.38 million H shares, of China Construction Bank (CCB) last Tuesday. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Russian Central Bank Voids Ratings After March 2014

The Central Bank of Russia will no longer use credit ratings from Standard & Poor’s, Fitch Ratings, or Moody’s Investors Service that were assigned after March 1, 2014. Essentially, the central bank is using ratings from before Russia’s move into Crimea.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view [...]


BlackRock NY

Is BlackRock Too Big?

With continued loose monetary policy and relatively less regulatory hurdles than banks and brokers, gargantuan U.S. asset management firms have financially prospered over the past years. According to an SEC filing, as of December 31, 2014, BlackRock reached US$ 4.652 trillion in assets under management. This monumental figure is an 8% increase from last year’s [...]


LONG GAME: Private Equity Energy Funds Continue to Raise Capital

Energy-focused private equity funds are still raising capital from pensions, insurance companies and sovereign funds, despite the precipitous fall in oil prices. Founded by Kenneth A. Hersh, NGP Energy Capital Management (NGP) recently closed US$ 5.33 billion for NGP Natural Resources XI, a fund that will target oil and gas production, oil field services and [...]


China’s State Council Looks to Form $6.5 Billion State Venture Capital Fund

The government of China is looking to create a government venture capital fund which may be capitalized at 40 billion yuan (US$ 6.5 billion). China is trying to maintain its relatively high economic growth rate and migrate toward medium to higher areas of manufacturing and services. The venture capital fund would be funded by existing [...]


Asian Sovereign Wealth Fund Acquired Stake in Silicon Valley Complex

In recent years, Menlo Park office properties have fetched higher prices compared to post-2001 years. Sand Hill Road is known as the epicenter of venture capital. Office transactions are rare. Not only are sovereign wealth funds centering on startups like Square and Uber, a number of sovereign funds are buying up prized Silicon Valley real [...]


Friday SWFI News Roundup, January 16, 2015

Mumtalakat Holdings Signs $500 Million Loan Mahmood Hashim Al Kooheji, CEO of Bahrain’s Mumtalakat Holdings, was present at the signing of a US$ 500 million five-year loan. This occurred on January 14th, 2015. The loan has been structured as a 5-year revolving credit facility. The facility will be used to refinance existing debt. Some of [...]


Maduell on CNBC: SWFs Have Helped Stabilize the Middle East

Prolonged low oil prices will impact the asset allocation of oil-based sovereign wealth funds. See the largest sovereign wealth funds here. Source: CNBC Arabia This is an interview between Michael Maduell, President of the Sovereign Wealth Fund Institute and CNBC Arabia. Date: January 15, 2015


OTPP Lures China Sovereign Wealth Fund Executive to HK Office

The Ontario Teachers’ Pension Plan (OTPP) opened an office in Hong Kong back in September 2013. OTPP is keen on acquiring experienced talent in the region to assist in seeking out more direct investments. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Afore Banamex Hires Managers for Asian Equities

Mexico City-based Afore Banamex has hired four asset managers to manage Asian equities. All four investment managers combined will oversee a mandate between US$ 500 to US$ 600 million. Increasingly, asset management firms are boosting staff and operations in Mexico. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view [...]


facebook-sovereign-wealth

Former Facebook Veteran Leads Sovereign Wealth Backed Venture Capital

Asian sovereign wealth funds are becoming larger players in Silicon Valley, as sovereign wealth centers on popular technologies such as cloud computing and the share economy. Temasek Holdings (through a sovereign wealth enterprise), Khazanah Nasional and Singapore’s GIC Private Limited, all have offices in the San Francisco Bay Area. With sovereign wealth capital funding U.S. [...]


london

OUTFLOWS: Ashmore Group Struggles in Current Environment

London-based Ashmore Group plc, an asset manager with a heavy focus on emerging markets, has reported a 10.7% loss in assets under management (AUM) from September 30, 2014 to December 31, 2014. The asset manager took a loss amongst all themes, with their alternatives strategy taking the largest hit at 41% loss in assets under [...]


SWFI – Movers and Shakers – January 14, 2015

Lagarde Appoints Chief Administrative Officer for the IMF Christine Lagarde, managing director of the International Monetary Fund (IMF), made notice of her intent to appoint Carla Grasso to chief administrative officer of the IMF. This is a new role. Grasso will start her new role on February 2, 2015. Grasso spent 14 years at Vale [...]


Citigroup Banking

COURTS: Citigroup Fails to Block Second Arbitration Attempt by ADIA

The Abu Dhabi Investment Authority (ADIA) is not giving up on legally pursuing Citigroup over its November 2007 investment which cost the sovereign wealth fund billions. At that time, ADIA invested US$ 7.5 billion in exchange for a 4.9% stake in Citigroup. The Gulf-based sovereign wealth fund is using all legal options to recover its [...]


Quebec Looks to Tap CDPQ for Public Infrastructure Projects

Caisse de dépôt et placement du Québec (CDPQ) has reached an agreement with the Government of Québec to develop and manage infrastructure assets for the province. Under the agreement and subject to the approval of province legislative amendments, CDPQ will form a new subsidiary called CDPQ Infra. This unit will lead the planning, financing, execution [...]


Ireland

Goldman Sachs Wins Allied Irish Bank Restructuring Mandate

Ireland’s Ministry of Finance has hired Goldman Sachs Group to advise on a potential capital restructuring for Allied Irish Banks (AIB). AIB was bailed out and nationalized in 2010, receiving nearly €21 billion. It was one of the most expensive banking bailouts in world history. Anglo Irish Bank was more costly, requiring a €34 billion [...]


Sovereign Wealth and Superannuation Funds Lobby OECD for Tax Exemption

The Organization for Economic Co-operation and Development (OECD) is attempting to limit multinational tax avoidance and offshore tax evasion by having created the base erosion and profit sharing (BEPS) project. A 15-point action plan on BEPS has been developed and tax reform could take effect on January 1, 2017. The political momentum for adopting all [...]


TRS Puts Up Capital for Camden Property Multifamily Fund III

Teacher Retirement System of Texas (TRS) has created a US$ 450 million joint venture to invest in value-add properties across America. TRS is kicking in US$ 144 million in equity toward Houston-based Camden Property Trust’s Multifamily Fund III. TRS has invested in Camden funds before. Camden Property will allocate US$ 36 million to the fund. [...]


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