Khazanah Sells Islamic Bonds to Take Malaysian Airlines Private

Malaysia’s Khazanah Nasional sold 1.5 billion ringgit (US $476 million) of Islamic bonds to help cover the sovereign wealth fund’s full acquisition of Malaysian Airlines. Khazanah priced the 5-year bond to yield 4.14%. Debt is being issued by one of its sovereign wealth enterprise, Rantau Abang Capital Berhad. Khazanah is hoping to delist the national [...]


SEC Rules That Timbervest Must Pay Disgorgement Payments

On September 24, 2013, Atlanta-based Timbervest, LLC got hit with an order instituting administrative and cease-and-desist proceedings from the Securities and Exchange Commission (SEC). Timbervest manages around US$ 1.2 billion in timber-related investments, with a majority of clients being institutional investors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to [...]


Norway Sovereign Wealth Fund Approaching $900 Billion

For the second quarter of 2014, Norway’s Government Pension Fund Global (GPFG) returned 3.3%. For that time period, equity investments returned 4.01%, fixed income 2.04% and real estate 3.04%. 61.3% of the sovereign fund is invested in equities, 37.6% in fixed income and 1.2% in real estate. Norges Bank Investment Management (NBIM) has split up [...]


Outsourced OCIO Demand Grows, Northern Trust Hires

Northern Trust Asset Management is expanding its outsourced CIO (OCIO) team by adding five senior professionals. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Promotions: PIMCO Builds Out Global Equities

Pacific Investment Management Co. (PIMCO), which manages more than US$ 55 billion in equities under management, has named Iain McNaught and Simon Peters as senior vice presidents as a move to build out the manager’s global growth equities team. McNaught will focus on the technology, media and telecommunications sectors. Previously, he was a global equity [...]


Goldman Sachs Abandons Bid, LIA Trial Will Move Forward

Goldman Sachs has abandoned its attempt to have the courts drop the Libyan Investment Authority’s (LIA) case. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Export-Import Bank of Korea Signs MoU with Investment Corporation of Dubai

The Export-Import Bank of Korea (Exim Bank), a state-managed bank, has signed a memorandum of understanding (MoU) with the Investment Corporation of Dubai (ICD) to discover opportunities for the Gulf to invest its oil money. Dubai is attempting to become a regional hub for Asian companies who want access to Africa.[ Content protected for Sovereign [...]


financial buyouts

CalPERS Inches Toward Selecting Infrastructure Consultant

CalPERS has narrowed down its choice for an infrastructure investment consultant. CalPERS desires the proposed consultant to act as an independent fiduciary for its investment committee. CalPERS issued the request for proposal on April 25, 2014. The contract is anticipated to last 5 years.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please [...]


Asian Sovereign Wealth Fund Gets Access to Bristol Shopping Centre

After a long process, it seems that an Asian sovereign wealth investor is making a major move on a UK shopping centre. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Allianz Global Investors Hires Moody for International Solutions

Allianz Global Investors has hired Joe Moody who will lead as head of international solutions specialists in the United States, United Kingdom, Europe ex-Germany and Japan. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


West Midlands Pension Fund Keeps CBRE Global Investors

The £10 billion Wolverhampton-based West Midlands Pension Fund had decided to keep CBRE Global Investors to help manage the fund’s £622 million UK real estate portfolio. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


OTPP Builds European Airport Portfolio

The Ontario Teachers’ Pension Plan (OTPP) has been an airport infrastructure investor since 2002. For many large pensions and sovereign wealth funds, international airports in core markets are regulated assets that have high barriers to entry and typically have inflation-linked stable cash flows.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe [...]


AIMCo Buys Mortgage Portfolio from OMERS

The Alberta Investment Management Corporation (AIMCo) has acquired a mortgage portfolio from the Ontario Municipal Employees’ Retirement System (OMERS). The transaction value was C$ 520 million (US$ 477 million). Most of the 50 mortgages were in high-quality and geographically scattered Canadian mortgages. OMERS has C$ 1.127 billion in mortgage investments. AIMCo has US$ 3 billion [...]


New-York sovereign wealth fund

UPDATE: Indian Tycoon Roy Looks to Sell $2.2 Billion in Properties

August 19 – UPDATE: According to a recent CNBC update, a spokesman for the Sultan of Brunei has dismissed news that they have made a bid for New York’s Plaza Hotel, Dream Hotel and London’s Grosvenor House hotel. “Neither His Majesty, the Brunei Investment Agency, nor the government of Brunei are involved in any way [...]


Janet Cowell

UPDATED: Public Funds: Is 15 Percent the Magic Benchmark for Recent Annual Returns?

For American public funds whose fiscal year ends on June 30, it appears that 15% was the benchmark return to beat. The $90.1 billion North Carolina Retirement Systems returned 15.88% for the fiscal year ended June 30, 2014. The pension investor has a target rate of return of 7.25% and is headed by North Carolina [...]


Friday SWFI News Roundup, August 15, 2014

Malaysian Airlines to be Fully Acquired by Khazanah Nasional The plagued Asian airlines, Malaysia Airlines, is going to be taken private by Khazanah Nasional, the country’s sovereign wealth fund. The carrier has suffered tremendously after two key disasters in a four month span. Khazanah is currently the largest shareholder in the airlines with a 69% [...]


Temasek Poised to Acquire MidCity Place

Singapore’s Temasek Holdings is in the lead to acquire a 50% interest for £175 million in MidCity Place, an EC1 office in London. The property is located near Chancery Lane and Holborn Underground Stations. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


The Crown Estate and China’s FX Investor Buy Leicester Mall

Already in August, The Crown Estate has partnered with two major sovereign wealth funds from the countries of Norway and China. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Deepwater Investing: Venari Attracts More Institutional Investor Money

Singapore sovereign wealth is pouring capital into American energy. Dallas-based Venari Resources LLC, a deepwater oil exploration and production company in the Gulf of Mexico, raised an additional US$ 1.3 billion in equity commitments. Existing investors participated such as Venari’s management, Warburg Pincus, Kelso & Company, The Jordan Company and Temasek Holdings. Some new institutional [...]


Investor Anticipation: President Nieto Signs Landmark Energy Reforms

On August 12, 2014, Mexican President Enrique Peña Nieto signed vital energy legislation that eliminates state-owned Petroleos Mexicanos’ (PEMEX) monopoly on energy production. PEMEX held this monopoly since 1938. President Nieto reiterated the Latin American country will create steps to draw the first round of private contracts. In fact, according to government figures, private investment [...]


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