Bpifrance Acquires APE’s Stake in PSA Group

The Agence des Participations de l’Etat (APE), a French government holdings entity overseeing around 70 firms, sold its 12.7% ownership stake in automobile manufacturer PSA Group (also known as Groupe PSA) to Bpifrance for €1.92 billion (US$ 2.1 billion). This represents a €1.12 billion capital gain for APE. Paris-based PSA Group makes cars and other […]

SWFI First Read, March 27, 2017

QIA Sees Opportunities in Brexit The Qatar Investment Authority (QIA), like many large sovereign funds such as Norway’s Government Pension Fund Global (GPFG), is heavily invested in the United Kingdom. In a public statement, Qatar Prime Minister Sheikh Abdullah bin Nasser bin Khalifa Al Thani commented that Qatar expects to invest ‎£5 billion in Britain […]

SWFI First Read, March 20, 2017

Bakheet Al Katheeri Promoted to Chief Executive for Mubadala Petroleum Bakheet Al Katheeri was named the new Chief Executive for Mubadala Petroleum. This move is part of the massive reorganization of the merger between International Petroleum Investment Company (IPIC) and Mubadala Development Co. Al Katheeri was the Chief Growth Officer of Mubadala Petroleum. Before Mubadala […]

Suez and CDPQ Ink Deal to Acquire GE Water

Caisse de dépôt et placement du Québec (CDPQ) and France’s Suez SA inked a deal in which they will acquire the water treatment business of General Electric (GE) for an enterprise value of US$ 3.415 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

doha sovereign wealth fund

SWFI First Read, February 27, 2017

Chinese Insurer AIA Looks to SE Asia Chinese mega insurer AIA Group Ltd seeks to grow its overseas investments and insurance business in emerging markets. AIA is increasing its investment presence in Singapore, by moving some team members from Hong Kong to Singapore. AIA also formed a new subsidiary in Singapore. The Southeast Asian countries […]

Can Mubadala Rejuvenate Brazil’s Invepar?

Brazil, Latin America’s biggest economy, is facing its toughest recession in decades amid a earth-shattering political crisis that linked government officials with state-owned companies. Making matters worse for the Brazilian economy is that borrowing costs had surged, while deal execution risk has increased. In February, state-controlled oil giant Petróleo Brasileiro SA (Petrobras) had its sale […]

Jean Raby to Take Helm at Natixis Global Asset Management

Natixis Global Asset Management has named a new CEO. Jean Raby will take the helm of CEO effective February 20, 2017. Raby will be a member of the firm’s senior management committee. Raby will oversee the three divisions of Natixis Global Asset Management which include the asset management, private banking and private equity business divisions. […]

SWFI First Read, January 23, 2017

JPMorgan Attempts to Sell Indian IPP to Government Buyers The UK Green Investment Bank Plc and Oman’s State General Reserve Fund (SGRF) are eyeing a deal to acquire at stake in Leap Green Energy Pvt. Ltd., an Indian independent power producer backed by JPMorgan Asset Management Holdings Inc., a unit of JPMorgan. JPMorgan controls a […]

SWFI First Read, January 20, 2017

Trump to Inherit Nearly $20 Trillion in Public Debt U.S. public debt outstanding at the end of Barack Obama’s term has ended at US$ 19,961,467,137,973.64, according to the U.S. Treasury. The amount is just shy of US$ 20 trillion. When Obama won election in 2009, the U.S. public debt outstanding stood at US$ 10,626,877,048,913.08. Dallas […]

SWFI First Read, January 13, 2017

Mubadala and IPIC Merger is on Track It appears the merger between the Mubadala Development Company and International Petroleum Company (IPIC) is getting closer to fruition and could be completed by the end of the first quarter of 2017. BlackRock Named Sarah Melvin as Head of the Institutional Business for North America Asset management giant […]

Bpifrance Backs Marine Renewable Energies

Paris-based DCNS S.A., an industrial group specialized in naval defence and energy, and Bpifrance’s fund called Société de Projets Industriels (SPI) formed DCNS Energies. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

SWFI First Read, January 9, 2017

Former Iranian President Ayatollah Ali Akbar Hashemi Rafsanjani Passes at Age of 82 Former Iranian President Ayatollah Ali Akbar Hashemi Rafsanjani, born to a family of pistachio farmers and one of the founders of Iran’s Islamic republic, has passed away at the age of 82 on January 8, 2016. Before this passing, Rafsanjani was Chairman […]

Hyundai Marine & Fire Insurance to Help Finance L’Oréal Office Building Acquisition

In late December 2016, South Korea-based Vestas Investment Management Co. Ltd. was chosen as the preferred buyer of the L’Oréal office building in Levallois-Perret which is a northwestern suburb of Paris. The building is called the So Ouest Plaza. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. […]

SWFI First Read, December 27, 2016

Statoil Wins Bidding for Offshore Wind Lease in New York Norwegian state-owned oil giant Statoil ASA has been declared the provisional winner of the U.S. government’s wind lease sale of 79,350 acres offshore New York with a bid of US$ 42,469,725. The auction was conducted by the U.S. Department of the Interior’s Bureau of Ocean […]

EDF Sells 49.9% Stake in RTE to CDC and CNP Assurances

On December 14, 2016, Caisse des Dépôts (CDC) and CNP Assurances inked a deal to acquire a 49.9% equity stake in Réseau de Transport d’Electricité (RTE) from EDF. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Bpifrance Backs French Insect Farmer Company

On December 15, 2016, Quadia SA, Bpifrance Ecotechnologies (part of Bpifrance), and Future Positive Capital participated in a €14.2 million Series B round of funding for Évry-based Ynsect. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

NBIM Acquires Vendome Property in Central Paris

On December 16, 2016, Norges Bank Real Estate Management signed and completed an agreement to purchase a 100% ownership interest in the Vendôme Saint-Honoré property, located at 9 Place Vendôme and 368-374 rue Saint-Honoré in central Paris. The sales price was €1 billion. No financing was used in the acquisition and the asset will be […]

Friday SWFI News Roundup, December 16, 2016

FRR to Exclude Tobacco and Thermal Coal from Bond and Equity Portfolios Paris-based Fonds de Réserve pour les Retraites (FRR) will now have to exclude tobacco companies and companies that derive more than 20% of their revenue from thermal coal extraction from the fund’s equity and bond portfolios. This decision was made by FRR’s supervisory […]

SWFI First Read, December 4, 2016

BREAKING NEWS 4:40 PM PST Italian Prime Minister Matteo Renzi said he will resign after a defeat in a referendum over his plan to reform the constitution. “The ‘no’ won in an incredibly clear way,” Italian Prime Minister Matteo Renzi said from the Chigi Palace. Lukoil Sells Arkhangelsk Diamond Mine Moscow-based Lukoil, a giant Russian […]

SWFI First Read, November 30, 2016

Trump Selects Elaine Chao for Secretary of Transportation U.S. President-Elect Donald J. Trump named Elaine L. Chao to be his choice to be the next U.S. Secretary of Transportation. Chao was the U.S. Secretary of Labor under U.S. President George W. Bush. Chao served as Deputy Transportation Secretary under U.S. President George H. W. Bush. […]