KIA Could Invest in Proposed Domestic Worker Company

Kuwait’s Ministries of Interior, Social Affairs and Labor, the Cooperative Societies Union and the Kuwait Investment Authority (KIA), have agreed to form a company that will focus on recruiting domestic workers (maids) in Kuwait. The company’s goal is to improve the process of recruiting domestic workers from overseas at a fair cost. It is estimated [...]

China’s Biggest Grain Trader Sets up JV with CIC

Chinese state-owned COFCO Corporation, also known as China National Cereals, Oils and Foodstuffs Corporation, is the country’s biggest grain trader. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Castleton Commodities to Acquire Morgan Stanley’s Physical Oil Business

Stamford-based Castleton Commodities International LLC will acquire the physical oil business of Morgan Stanley. The price of Morgan Stanley’s oil trading and storage unit was rumored to be around US$ 1 billion to US$ 1.5 billion in an all-cash purchase. Trading house Castleton Commodities raised funds from existing company investors and through a US$ 3.5 [...]

Khazanah Changes Leadership, Hires ESADE Professor for London Office

Malaysia’s Khazanah Nasional has made some leadership changes. Recently, the wealth fund formed plans to open an office in London. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Korea Investment Corporation Beats Fixed Income and Equities Benchmark in 2014

The Korea Investment Corporation (KIC) marks its 10-year milestone, generating a return on assets of 10.03% (on a currency basket basis) for fiscal year 2014. By looking at the return in USD, it goes down to 4.02%. KIC’s return on assets were slightly down from fiscal year 2013 at 11.39%. However, in 2014, the KIC [...]

SWFI Trend Report: A Tale of Two Europes

In terms where sovereign wealth funds and large pensions directly invest, there exist two Europes. In the North, wealth funds are comfortable investing directly. These institutional investors still utilize external managers and commit massive amounts of capital to private funds. Analyzing the Iberian Peninsula and across to Italy, these pension and sovereign investors have a [...]

Sovereign Wealth Funds and Russia

RDIF and CITIC to Form Russia-China Investment Bank

The Russian Direct Investment Fund (RDIF) is working with CITIC Merchant, a wholesale merchant banking business unit of CITIC Group, on forming a joint investment bank. The proposed Russia-China investment bank will help Russian corporations raise money in Asia. Some of the investment banking services the bank will conduct are: mergers and acquisitions advisory, with [...]

BOOM: Sovereign Funds and Canadian Pensions Acquire Stake in UK Mobile Company

On May 7th, the Canada Pension Plan Investment Board (CPPIB) made public that they signed a deal to purchase an approximate 12% stake, by investing £1.1 billion alongside Hutchison Whampoa Limited, in a holding company that will be created by merging O2 U.K. and Three U.K. The holding company is called Hutchison 3G UK Holdings [...]

Friday SWFI News Roundup, May 8, 2015

Singapore’s CPF Chief Investment Officer Joins Mercer Chua Boon Lee, the former Chief Investment Officer of Singapore’s Central Provident Fund (CPF), is joining Mercer’s investment consulting business in Singapore as a principal. Mercer has been going under a re-organization globally. Chua will report to Soon Kian Lee, Mercer’s ASEAN business head. ADIA Sells Shares in [...]

5 Risks Keeping Sovereign Wealth Funds Up at Night

#5. Sustained Low Range of Oil Prices Sustained low prices of oil are affecting the funding input levels of commodity-based sovereign wealth funds. These current fossil fuel prices are economically squeezing countries like Russia, Saudi Arabia, Venezuela and Iran in harmful ways. Economists, pundits, energy CEOs and policymakers are trying to get a grasp on [...]

T. Rowe Price Designates Stromberg to Succeed Kennedy as CEO

Baltimore-based T. Rowe Price Group Inc. has named a successor for current CEO James A.C. Kennedy. William J. Stromberg, the company’s global equity head, will become CEO on January 1, 2016. At that time, Stromberg will join the board of directors at T. Rowe Price and chair the company’s management committee. Kennedy plans to officially [...]

investment consulting

CASHING IN: Cellnex IPO Aims to Attract Sovereign Funds

Barcelona-based Abertis Infraestructuras SA, a toll road company, seeks to cash in on the demand for Spanish communication infrastructure. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

SOFAZ and Italian Strategic Fund Plan to Sign MoU on LT Investments

The State Oil Fund of Azerbaijan (SOFAZ) is near completing a Memorandum of Understanding with the Fondo Strategico Italiano (FSI), also known as the Italian Strategic Fund. The MoU will highlight a number of new long-term investment projects. Fondo Strategico Italiano is keen on partnering with sovereign wealth funds on investments. The fund has signed [...]

PREVENT CAPITAL FLIGHT: Greece Enacts Desperate Measures

Greece will be charging people at cashpoint withdrawals and financial transactions in a bid to prevent a hemorrhaging of capital racing out of Greek banks. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Real Estate Roundabout, May 5, 2015

Ivanhoé Cambridge Buys Leased UBS GAM London Office Ivanhoé Cambridge, a unit of Caisse de dépôt et placement du Québec (CDPQ), acquired 21 Lombard Street in London for £130 million. The class A office property is in the City district. The building is fully leased to UBS Global Asset Management. Ivanhoé Cambridge has been building [...]

GIC Mulls $980 Million Investment in Brazilian Hospital Company

Singapore’s GIC Private Limited is in discussions to acquire a stake in Brazilian hospital care provider Rede D’Or São Luiz SA for nearly US$ 980 million. The wealth fund could acquire up to a 14% position in the company from the Moll family and Grupo BTG Pactual SA (diluting their positions further). In April, The [...]

Robert Greene Appointed Chairman of Virginia Retirement System

Robert L. Greene has been appointed Chairman of the Virginia Retirement System (VRS) by Virginia Governor Terry McAuliffe. Greene has served as a VRS board of trustee and vice chair for a number of years. He replaces Diana Cantor as chairman of the board. Greene is President and CEO of the National Association of Investment [...]

CDPQ Partners With GE to Buy Southern Star Central Corp

Morgan Stanley Infrastructure, the infrastructure arm of Morgan Stanley, has sold Kentucky-based Southern Star Central Corporation to a group of investors which include affiliates of GE Energy Financial Services and Caisse de dépôt et placement du Québec (CDPQ). Founded in 1904, Southern Star is a FERC-regulated interstate natural gas transmission and storage system, consisting of [...]

5 Key Takeaways at SWFI’s Institute Fund Summit Asia in Seoul

  In late April, the Sovereign Wealth Fund Institute (SWFI) held its third Asia summit, this time in Seoul, Korea – a vibrant metropolis home to global companies such as Samsung, Hyundai and Lotte. South Korea’s rise to an economic powerhouse is fascinating. In 1957, South Korea and Ghana had nearly the same annual per [...]

Wealth Funds Explore Sale of Dunia

Abu Dhabi-based Mubadala Development Co. and Fullerton Financial Holdings Pte Ltd, a sovereign wealth enterprise of Temasek Holdings, are among a group of key shareholders looking at the possible sale of Dunia Finance LLC. Dunia is a consumer finance company based in the United Arab Emirates. [ Content protected for Sovereign Wealth Fund Institute Standard [...]

RFPs, Allocations and Opportunities

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