India deals

ADIA is Anchor Investor in Mahanagar Gas

Mahanagar Gas Limited, the sole supplier of natural gas in Mumbai and surrounding areas, raised Rs. 309.36 crore (US$ 46.02 million) by allocating shares to anchor investors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CalPERS Names Douglas Hoffner Interim CEO

The California Public Employees’ Retirement System (CalPERS) has decided on an interim chief executive officer (CEO), as Anne Stausboll effectively retires on July 1, 2016. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


HSBC to Settle 14-Yr Old Mortgage-Related Lawsuit

HSBC Holdings Plc agreed to settle a massive 14-year old shareholder lawsuit, coughing up US$ 1.575 billion; it is the largest ever recovery following a securities fraud class action trial. Robbins Geller Rudman & Dowd LLP was the lead counsel for the plaintiffs. The settlement is subject to court approval. [ Content protected for Sovereign […]


SWFI First Read, June 20, 2016

Temasek Unit Sells 555 Million H-Shares in CCB Fullerton Financial Holdings Ptd Ltd, a sovereign wealth enterprise (SWE) of Singapore’s Temasek Holdings, sold 555 million H-shares of China Construction Bank (CCB) on June 16th. At a price of HK$ 5.01 per share, it values the block sold at HK$ 2.78 billion. In total, Temasek reduced […]


state street

HK Securities Regulator Fines State Street Global Advisors

On June 15th, 2016, the Hong Kong Securities and Futures Commission, commonly known as SFC, reprimanded and fined State Street Global Advisors Asia Ltd. (SSgA) HK$ 4 million. The fine was for a number of alleged failures relating to SSgA’s Tracker Fund of Hong Kong or TraHK, a famous unit trust. The concept of the […]


Deloitte Consulting Buys Casey Quirk

On June 17th, 2016, Deloitte Consulting acquired Casey, Quirk & Associates LLC, a money management consulting firm. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


RDIF and Co-Investors to Back Reconstruction of Parts of M-4 Don Highway

The Russian Direct Investment Fund (RDIF) is investing in a project that will restructure portions of the federal M-4 Don highway in Russia, as part of its infrastructure partnership with Avtodor State Company formed in December 2014. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Flash Boys Hero Wins, Wealth Funds Rejoice

On Friday June 17th, IEX Group Inc., the company founded by Brad Katsuyama, won SEC approval to run a U.S. stock exchange. IEX will be the 13th U.S. national stock exchange certified by the SEC. Before the approval, IEX ran as an alternative trading system. IEX garnered additional fame when it was included in Michael […]


Follow the Money – Episode 11

This is the second episode of Global Connections. Rachel and I banter on India’s attractiveness for large public institutional investors such as sovereign wealth funds and mega Canadian pensions. We also talk about fixed income markets – touching upon the German bund. We also discuss technology investing and talk about Didi’s latest investment round. Download […]


Friday SWFI News Roundup, June 17, 2016

RDIF Leads Investors in Russian Helicopters The Russian Direct Investment Fund (RDIF) and a number of Middle Eastern funds have agreed to co-invest in Russian Helicopters. Under the agreement, the parties will invest up to US$ 600 million in the company. Upon completion of the transaction, the investor consortium will hold up to 25% of […]


RDIF Leads Investor Group into AF Group

The Russian Direct Investment Fund (RDIF) and a number of Gulf-based institutional investors invested in Russia-based AFG National, LLC, a vertically integrated agro-industrial holding that is engaged in activities such as rice production, field vegetables, table potatoes, and packaged cereals. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view […]


Temasek Holdings Forms Americas Advisory Panel

In an effort to get better insight and possibly enhance deal flow, Singapore’s Temasek Holdings has formed an Americas advisory panel. The European advisory panel was launched in January 2016. The Americas advisory panel held its first meeting on June 14-15 in New York. Dilhan Pillay Sandrasegara, President and Head, Americas at Temasek, said in […]


SWFI First Read, June 16, 2016

Sharing Economy Company Airbnb Gets US$ 1 Billion Debt Facility San Francisco-based Airbnb Inc. has inked a mega debt deal with JPMorgan Chase & Co., Citigroup Inc., Bank of America Corporation, and Morgan Stanley for a US$ 1 billion debt facility. Airbnb was last valued at US$ 25.5 billion. Not Enough Public Data: Reason why […]


SWFI – Movers and Shakers – June 16, 2016

Warburg Pincus Hires Former Deutsche Bank CFO Stefan Krause, the former Chief Financial Officer of Deutsche Bank AG, is joining Warburg Pincus LLC as a senior adviser. Krause will assist the private equity firm find and evaluate investment opportunities in Europe. Krause joined Deutsche Bank in 2008 from Bayerische Motoren Werke AG. CBRE Global Investors […]


SEGRO Moves Portfolio of Big Box Warehouses to JV

Public Sector Pension Investment Board (PSP Investments) acquired a 50% percent share in a European property portfolio of mega warehouses from SEGRO plc, a U.K. real estate investment trust (REIT), for €89.4 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CHERRY PICKING: Brookfield and Co-Investors Eye Brazil Gas Pipelines

In the current year, sovereign funds have been highly selective when it comes to investing in Brazil. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


sovereign wealth india

Asset Owners Form Resurgent Power

Three large asset owners formed Resurgent Power Ventures Pte. Ltd. as a platform to acquire distressed power assets that are plagued with high debt and fuel supply disruption problems. SWFI reported in February 2016 about the creation of an energy platform with Mumbai-based Tata Power and ICICI Venture. [ Content protected for Sovereign Wealth Fund […]


Two Breathtaking Legal Cases in SWF Land

The first legal case that has hit all major media headlines is the lawsuit against Goldman Sachs by the Libyan Investment Authority (LIA). The case is being handled in London’s High Court of Justice and circles around a US$ 1 billion case on derivative trades. Société Générale is also being legally pursued by the LIA […]


SWFI First Read, June 14, 2016

Ariel Re Up for Sale An investment bank was hired to put Ariel Re (Holdings) Limited up for sale. Ariel is 50% owned by BTG Pactual and 50% owned by the Abu Dhabi Investment Council. In July 2014, BTG Pactual bought its stake in Ariel. OMERS Ventures Invest in Series A in LEAGUE LEAGUE, a […]


MODI EFFECT: SWFs and Pensions Intensify Direct Investments in India

Narendra Modi was sworn in as Prime Minister of India on May 26, 2014. Somewhat stronger private property rights, slightly-loosened regulation and friendlier foreign investment laws have increased the flows of foreign institutional investor capital. Since 2013, direct investments by sovereign funds and public pensions into India have ramped up, according to time-series data from […]


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