Friday SWFI News Roundup, February 20, 2015

NAMA Awards Cushman & Wakefield Corporate Finance NPL Sales Mandate Ireland’s National Asset Management Agency (NAMA) has awarded Cushman & Wakefield Corporate Finance the mandate to sell a portfolio of non-performing loans with a face value of €8.4 billion. The portfolio of non-performing loans consists of approximately 500 borrowers in both residential and commercial properties. [...]


seattle

$130 Million To $1 Billion, APFC’s Unrealized Gain on Juno

In greater frequency, sovereign wealth funds are participating as cornerstone investors, not just in Asia, but in U.S. pharmaceutical companies. Sovereign wealth centers on the importance of high-quality deal flow, eagerly waiting for special opportunities from their vast lineup of asset managers. These special opportunities can lead to outsized investment returns for public institutional investors. [...]


Chasing Infrastructure in Sweden

Fortum Oyj, a state-controlled Finnish energy company with assets in the Nordic region and Russia, is selling its Swedish electricity grid. Bids are due by early March 2015 and may fetch a price as high as US$ 7.4 billion. Fortum Oyj has shifted its strategic focus on generating power assets, while selling energy distribution assets. [...]


Passive Management Makes Asset Managers Cost Conscious

The growth and adoption of smart beta offerings, exchange-traded funds (ETF) and other passive products are chipping away at the profit margins of asset management firms. In addition, as more large asset owners bring fixed income and equity management functions in-house, asset managers have to look further down the line for institutional investor clients. Key [...]


3 Game-Changing Private Equity Industry Trends

  Coming back from our Miami SWFI Institutional Investor Forum at the Fontainebleau, which had institutional investor capital from all around the globe, I thought about asset owners and the importance of specialist and emerging private equity firms. The significance of domain expertise and founder involvement, to me, is paramount. At our February forum, in [...]


ports sovereign wealth

Strathclyde Pension Commits to Community Power Projects

Strathclyde Pension Fund committed £10 million toward community renewable power projects. The commitment will be invested over three years. This investment will lie in Strathclyde Pension’s new opportunities portfolio which holds investments in real assets. See the Institutional Investor Profile of Strathclyde Pension Fund [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. [...]


India deals

JTC and Temasek to Move Forward on Merging RE Units

Singapore’s Temasek Holdings and Singapore-based JTC Corporation, whose parent is Singapore’s Ministry of Trade and Industry, have agreed to merger four of their real estate units. JTC Corporation was formerly the Jurong Town Corporation. The reasoning for the S$5 billion merger is to achieve economies of scale and be able to move faster to take [...]


Abu Dhabi Investment Authority Deploys Capital to European Real Estate

Seeking higher investment yields in recent times, Abu Dhabi Investment Authority (ADIA) has largely bypassed London properties to focus more on Continental European opportunities. The Gulf-based sovereign wealth fund invests in both developed properties and in construction projects – unafraid of developmental risks. For example, a sovereign wealth enterprise of ADIA is backing a project [...]


Introduction to Factor-Based Investing

This article is sponsored by S&P Dow Jones Indices. For decades investment portfolios have been constructed from a combination of cap-weighted index funds and active funds. Cap-weighted index funds allow investors to acquire the market portfolio in a simple, transparent, and cost effective manner. By contrast, active funds promise higher returns at the cost of [...]


Public Release – 4Q 2014 Linaburg-Maduell Transparency Index Ratings

The fourth quarter results for 2014 on sovereign wealth fund transparency have now been released to the public. The Linaburg-Maduell Transparency Index was developed at the Sovereign Wealth Fund Institute by Carl Linaburg and Michael Maduell. Angola’s sovereign wealth fund was added to the transparency index. After reviewing, FSDEA received a score of 8. Mumtalakat [...]


Malaysian Pension Giant Buys Espace Lumière

Increasingly Asian institutional investors such as sovereign wealth funds and large pensions are making inroads into Parisian office real estate. Malaysia’s Employees’ Provident Fund (EPF), through Invesco Real Estate, has acquired a Paris office property called Espace Lumière. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Khazanah Signs Resort Development Agreement with Thailand Hotel Group

Malaysia’s Khazanah Nasional, through its sovereign wealth enterprise Destination Resorts & Hotels Sdn Bhd, has signed a deal to partner with Bangkok-based Minor Hotel Group Ltd (MHG) to build an Anantara resort in Malaysia. The resort and residences-for-sale will be developed with the Anantara brand, a suitable location for the development is in the works. [...]


REVEALED: Virginia Retirement System Allocates Almost $2 Billion to Managers

Virginia Retirement System (VRS) has allocated capital to a number of firms. A massive mandate went to Chicago-based LSV Asset Management for US$ 830 million. LSV will manage a global equities mandate, beating out other candidates. US$ 200 million was allocated to Boston-based Windham Capital Management, LLC to run a risk-based multi-asset class portfolio. With [...]


Euroclear Helps With the Internationalization of Peru’s Capital Markets

Brussels-based Euroclear and Peru’s Ministry of Economy and Finance have signed a memorandum of understanding (MoU) that commits both parties to form a new international link (i-link) for Peru. Essentially, Peruvian issuers will be able to tap into the international liquidity pool provided by Euroclear’s massive investor client base. The MoU permits Peruvian investors to [...]


China’s Securities Regulator Issues 10 New RQFII Licenses

The China Securities Regulatory Commission (CSRC) has announced 10 new renminbi qualified foreign institutional investor (RQFII) licenses. Fullerton Fund Management, a sovereign wealth enterprise of Temasek Holdings, received its RQFII license in the summer of 2014. An RQFII license is more flexible than a QFII license. The Qatar Investment Authority (QIA) got its RQFII license [...]


Is Harvard’s Endowment Just a Stepping Stone?

Greenwich-based Tudor Investment Corporation is one of many asset managers capitalizing on Harvard’s endowment exodus of professional investment managers. Emil Dabora, who was managing director and head of developed equity markets at Harvard Management Company (HMC), was hired to fill the newly-created position of global event-driven equity strategy at Tudor Investment. Dabora will be located [...]


Friday SWFI News Roundup, February 13, 2015

Temasek Holdings Invests in E-Commerce Platform Jet Founded by Marc Lore, Jet raised US$ 140 million in new funding. Lore was the founder of Diapers.com which sold to Amazon for US$ 545 million. Bain Capital Ventures was the lead investor in the round. Other investors were: General Catalyst Partners, Goldman Sachs, New Enterprise Associates, Norwest [...]


Brisbane

QIC’s Global Infrastructure Fund Raises $528 Million

The Queensland Investment Corporation (QIC) has raised capital commitments of US$ 528 million from four institutional investors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CDPQ Partners With Bronfman Family Office on Israeli Tech

Caisse de Depot et Placement du Quebec (CDPQ) has partnered with the investment office of the Stephen Bronfman family (Claridge Investment Ltd) to form a joint venture to allocate capital to Israel-based technology firms. Claridge manages the Bronfman family’s assets. The joint venture, Claridge CDPQ Israel, will operate out of Tel Aviv. [ Content protected [...]


New-York sovereign wealth fund

Norway Sovereign Fund Acquires Interest of 11 Times Square Property

Norges Bank Investment Management (NBIM), the manager of Norway’s sovereign wealth fund, has purchased a 45% interest in 11 Times Square. Founded in 1981, SJP Properties was founded by Steven J. Pozycki. The 45% interest was acquired from Prudential Real Estate Investors and SJP Properties, who will together remain as majority owners. The deal was [...]


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