real assets

ATP Involved in Mega Hotel Project in Benelux

Danish institutional investor ATP and AXA Investment Managers formed a 50:50 joint venture to acquire a massive hotel project in Amsterdam, located in the main business district of Zuidas. The project aims to be the largest hotel, measured by the number of rooms, in the Benelux region. [ Content protected for Sovereign Wealth Fund Institute […]


Permodalan Nasional Backs Merger Between SP Setia And I&P Group

Malaysian investment giant Permodalan Nasional Berhad (PNB) is moving forward on plans to merge both of its property investments, SP Setia Berhad and I&P Group Sdn Berhad, a township developer. At the moment, SP Setia and I&P Group have 5,218 acres and 4,263 acres of undeveloped land respectively in the Klang Valley, Johor Baru, Penang […]


SWFI First Read, April 23, 2017

Schroders to Buy Adveq In a bid to diversify into the lucrative world of alternative investments, Schroders PLC, a FTSE 100 investment management company, made its move to buy Adveq Holding AG (Adveq), a specialist private equity business. Adveq was founded in Zurich in 1997. Bruno E. Raschle, Executive Chairman of the Board of Directors […]


Plans for Saudi Public Investment Fund to Inherit Airports and Other Aviation Assets

As part of the massive privatization efforts by the Saudi Arabian government, the Riyadh-based Saudi Civil Aviation Authority plans to turn a number of airports into companies to improve accountability and transparency. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


KWAP Invests in Penang Coast Township Development

Kumpulan Wang Persaraan (KWAP) has acquired an ownership stake in a township development along Penang’s northeastern coast and also acquired an ownership interest in Eastern & Oriental Berhad, the developer of the project that is listed. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, April 14, 2017

Slight Postponement in QIA-BRF Deal for Banvit The Qatar Investment Authority (QIA) and BRF SA’s deal to acquire Banvit Bandirma Vitaminli Yem Sanayii AS (Banvit), Turkey’s largest poultry producer, has been briefly postponed due to document and precondition issues. In a public filing, Banvit revealed paperwork wasn’t ready in time for the company’s annual general […]


Manulife Wants a Big Presence in Singapore, Buys PwC Building

Manulife Financial Corporation (Manulife) is keen on expanding its financial footprint in Southeast Asia. In its first property deal in Singapore, Manulife Real Estate acquired 8 Cross Street (known as the PwC Building), a 28-storey, 355,000 square foot, Class A office tower, for the price of US$ 526 million from DBS Group Holdings. [ Content […]


Metrolinx Sells 141 Bay Street to Ivanhoe Cambridge and Hines

Ivanhoé Cambridge, the real estate unit of CDPQ, and Hines, bought land at 141 Bay Street from Metrolinx, Ontario’s regional transportation agency for the Greater Toronto and Hamilton Area. The land is located in downtown Toronto. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


German Pension RVK Acquires Berlin Property

Rheinische Versorgungskassen (RVK), a German pension fund founded in 1888 whose members include civil servants in the region, acquired a central Berlin mixed-use property called Quartier am Auswärtigen Amt. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Saudi PIF to Back Al Qidiya Entertainment City Development

In a statement by Saudi Deputy Crown Prince Mohammed bin Salman bin Abdulaziz through the Saudi Press Agency, commented that the Public Investment Fund (PIF) is the main institutional investor in an entertainment city project south of Riyadh, located in Al Qidiya. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe […]


SWFI First Read, April 8, 2017

KWSP Invests in Melbourne Square Project Malaysia’s Employees Provident Fund, also known as KWSP, is investing 154 million AUD, alongside Malaysian industrial group OSK Holdings, in a mixed-use development in the centre of Melbourne in Australia called Melbourne Square. KWSP is taking a 49% stake in Yarra Park City, a unit of OSK Holdings that […]


london

BVK and VKB Join Investor Group to Acquire the Olympia London Exhibition Centre

Versorgunskammer (BVK) and Versicherungskammer Bayern Group (VKB), which has €48.5 billion in assets, are part of an investor group buying the 130-year-old Olympia London Exhibition Centre for a gross cash consideration of £296 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, April 7, 2017

Darryl Murphy Named Head of Infrastructure Debt at Aviva Investors Aviva Investors hired Darryl Murphy as head of infrastructure debt on the alternative income solutions team. He will oversee a team of 20 infrastructure debt professionals. Previously, Murphy was a Partner at KPMG working in the U.K. corporate finance unit focusing on the power and […]


CPPIB Invests Into Indian Retail Platform Led by The Phoenix Mills

The Canada Pension Plan Investment Board (CPPIB) has constructed more inroads into the Indian retail real estate sector, targeting growth cities in India. CPPIB and The Phoenix Mills Limited (PML) inked a definitive agreement to develop, own and operate retail-led mixed-use developments across India. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. […]


NCB Capital Awards Fidelity Shariah-Compliant Real Estate Mandate

Middle East and Asian investors are cherry picking real estate investing in the core euro-zone region, seeking income-producing properties. NCB Capital, the investment banking division of Saudi Arabia-based National Commercial Bank, awarded a real estate mandate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, April 4, 2017

Cowen Makes Moves, Inks Deal to Buy Convergex Group The Cowen Group agreed to a deal to purchase New York-based Convergex Group, an agency-focused global brokerage and trading related services provider, for US$ 116 million in cash and stock from a group of investors including BNY Mellon, private equity firm GTCR and other investors. In […]


British Airways Qatar

Fresh Off Article 50, Heathrow to Get More Money from Shareholder Base

Fresh after the handing off of Article 50, institutional investors are moving forward pouring an additional £650 million into improving Heathrow Airport. Heathrow Airport is home to more than 80 airlines. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Abu Dhabi Investment Authority Holds on to Playa Hotels & Resorts

With a complex ownership history, Netherlands-based Playa Hotels & Resorts NV is an owner, operator and developer of all-inclusive resorts in Mexico and the Caribbean. In the highly-competitive world of vacation renting, Playa owns a portfolio consisting of 13 resorts located in Mexico, the Dominican Republic and Jamaica. Five of Playa’s resorts (Dreams Puerto Aventuras, […]


Abu Dhabi Investment Council Refinances Chrysler Building

As the U.S. Federal Reserve signals possible interest rate increases for the remainder of 2017, a number of building owners in Manhattan are looking to refinance. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, March 23, 2017

Amazon to Acquire Souq E-commerce giant Amazon has agreed to acquire Dubai-based Souq.com from its shareholders. Rumors say the sales price was roughly US$ 650 million. This transaction enables Amazon to expand retail e-commerce control in the Middle East. Institutional backers of Souq include Standard Chartered Private Equity, Singapore’s GIC Private Limited, Naspers, Baillie Gifford, […]