real assets

Strategic Development: Angola Sovereign Wealth Fund Building Hospitality School

Fundo Soberano de Angola (FSDEA) has begun construction on Academia de Gestão da Hospitalidade Angolana, a new hospitality school. The school will be located in the Angola province of Benguela which borders the Atlantic coast. The FSDEA is a strategic development sovereign wealth fund (SDSWF), that is embarking on local investment projects to boost returns, [...]


Why Did Aviva Sell its APAC Real Estate Business to JP Morgan

Aviva Investors, the investment arm of insurer Aviva PLC, has sold its Asia-Pacific (APAC) real estate business to JP Morgan Asset Management. Aviva has encountered increased competition from private equity players in APAC real estate from firms such as Blackstone Group. Nearly a year ago, Aviva’s APAC real estate division hired the corporate finance division [...]


TOP 10 Direct Sovereign Wealth Fund Real Estate Deals of 2014

9 out of the top 10 sovereign wealth funds ranked by assets under management have an allocation to institutional real estate. Increasingly, cash-rich sovereign wealth funds and large pensions such as CPPIB are vying for institutional real estate, creating competition for life insurance companies, developers, real estate managers and real estate investment trusts. For example, [...]


India deals

Asian Sovereign Wealth Fund Invests in Gurgaon Residential Development

Singapore’s GIC Private Limited, through a sovereign wealth enterprise (SWE), created a joint venture with Indian property developer Vatika Group. The joint venture will develop two high-quality residential projects on Dwarka Expressway in Gurgaon. Gurgaon is near the Indian capital of New Delhi, in the state of Haryana. The residential projects are expected to be [...]


Singapore Sovereign Wealth Fund Acquires Rio de Janeiro Office Building

GIC Private Limited, one of Singapore’s sovereign wealth funds, acquired an office building in downtown Rio de Janeiro. This is the sovereign wealth fund’s first direct real estate investment in Latin America. The office building, Eco Sapucaí, was sold by real estate fund manager Hemisfério Sul Investimentos (HSI). The 86,060 square meter building was designed [...]


Sovereign Wealth Fund Looks to German Residential Real Estate

Looking away from London, residential properties in Berlin are attracting more overseas institutional investors. Berlin-based Kauri CAB Management GmbH and Apeiron Capital have partnered with a sovereign wealth fund to allocate capital to residential properties across Germany. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


BIG DEAL: QIA Finalizes HSBC Tower Purchase in Canary Wharf

The Qatar Investment Authority (QIA) has finalized the purchase of HSBC’s headquarters in Canary Wharf. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


blackstone

PAYDAY: Singapore Sovereign Wealth Fund Loves Logistics

Update – December 8th It was originally reported that GIC Private Limited was the sole investor in IndCor Properties and that Global Properties Logistics denied involvement. We can now confirm that Global Properties Logistics is the lead investor. There were reports that Global Logistic Properties Limited (GLP) was participating on the deal. On December 8th, [...]


ports sovereign wealth

Qatar Sovereign Fund Invested $1.8 Billion in Brookfield Property

Brookfield Property Partners LP, through Brookfield Property LP, issued US$ 1.8 billion of preferred equity securities exchangeable into units at a price of US$ 25.70 to the Qatar Investment Authority (QIA). This deal occurred on December 4, 2014. The QIA has about a 9% interest in Brookfield Property on an as-exchanged basis. [ Content protected [...]


Singapore Sovereign Wealth Fund Allocates to Indonesian Real Estate

Singapore’s GIC Private Limited and Rajawali Group, one of the biggest investment companies in Indonesia, have penned a Memorandum of Understanding (MoU) to jointly invest up to US$ 500 million in equity toward property developments in Indonesia. The focus will be on developments in central business districts throughout Indonesia. Types of real estate will include [...]


CPPIB Boosts Goodman Group Chinese Logistics JV

The Goodman Group has been working with a variety of institutional investors such as sovereign wealth funds like the China Investment Corporation (CIC) and large pensions. The Goodman Group and Canada Pension Plan Investment Board (CPPIB) announced a US$ 500 million boost to their equity allocation in Goodman China Logistics Holdings, a fourth equity capital [...]


New-York sovereign wealth fund

BIG DEAL: Ivanhoe Cambridge Buys Bryant Park Tower from Blackstone

Highlighting gregarious demand for stable, U.S. real estate, public funds are plowing massive mounds of capital into property markets like Manhattan. The Manhattan real estate market offers institutional investors a deep pool of property inventory with asset characteristics suitable for their tastes. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe [...]


Wellington Place: CPPIB and Hermes Real Estate Form New JV

The Canada Pension Plan Investment Board (CPPIB) and Hermes Real Estate, part of Hermes Investment Management, created a new UK regional joint venture partnership. The CPPIB and Hermes already have an existing London office joint venture formed in July 2013. This new partnership will involve Hermes Real Estate selling 50% of the development phase of [...]


NBIM and TIAA-CREF Acquires Property Across from US Capitol

Norges Bank Investment Management (NBIM), the manager of Norway’s sovereign wealth fund, has purchased a 49.9% stake in the land at 400-444 North Capitol Street in Washington D.C. for US$ 82.3 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


With Greater Egyptian Stability, Aabar Invests in Real Estate Development Company

Aabar Investments PJS, owned by International Petroleum Investment Company (IPIC), has acquired a 5.1% stake in the second largest real estate developer listed on the Egyptian Stock Exchange. Aabar purchased the stake in Palm Hills Developments Company SAE. Aabar will nominate a representative to the board of Palm Hills Developments. Palm Hills Development has a [...]


Friday SWFI News Roundup, November 7, 2014

Songbird Rejects QIA and Brookfield Takeover Offer The Qatar Investment Authority (QIA) and Brookfield Property Partners have reached out to Songbird Estates, the 69.4% owner of Canary Wharf real estate development, in a bid for takeover. Songbird Estates is partially-owned by sovereign funds such as QIA and the China Investment Corporation. On Friday, Songbird Estates [...]


SWF Partnership: KIC and QIA Form Joint Investment Fund

Increasingly, sovereign wealth funds from the East and the Gulf are creating joint investment funds. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Real Estate Investments, More Attractive for Sovereign Wealth Funds

Sovereign wealth funds are plugging more money into direct real estate, even in development deals. The thirst for core properties, value-add real estate and logistics are drawing sovereign wealth funds to spend more. According to data from the Sovereign Wealth Fund Transaction Database, sovereign wealth funds in total invested US$ 17.5 billion for the first [...]


blackstone

GIC-Led Group Seeks Billions for Blackstone’s IndCor

The Blackstone Group is nearing a deal to exit Chicago-based IndCor Properties Inc, a massive holder of American industrial properties such as warehouses. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


2 Major Sovereign Wealth Fund Strategic European Deals

Middle East sovereign wealth funds are undeterred when it comes to London real estate. The Kuwait Investment Authority (KIA) has backed a former Goldman Sachs partner in launching a real estate investment firm. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]