real assets
london

Wealth Fund Gets Heron Tower Refinancing

The tall 46-storey skyscraper Heron Tower, now called Salesforce Tower, in London was able to score a refinancing of £400 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


QIA and Ascott Acquire Islington London Property

CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited, is acquiring an Edwardian property in Islington, London through its serviced residence global fund with sovereign fund Qatar Investment Authority (QIA). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SOVEREIGN WEALTH: Hines Wins Large Mandate in Manhattan

Norway’s wealth fund continues to be a major institutional investor in U.S. core real estate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Friday SWFI News Roundup, April 22, 2016

Volkswagen Doubles Provisions to Pay for Emissions Scandal Volkswagen AG, which is backed by many institutional investors such as the Qatar Investment Authority (QIA), has doubled provisions to pay for the emissions-cheating scandal. The new amount is €16.2 billion compared to the older amount of €6.7 billion. CIC Hungers for Fried Chicken An investment group […]


First Quarter 2016 Real Estate Update: Marcus and Millichap

This article is sponsored by Marcus & Millichap. Across the country and across all sectors, there was a decrease in “activity” and transaction velocity in the first two months of 2016 from the strong pace of 2015. There does not seem to be a consensus on the reasons why, but industry professionals cite severe-stock market […]


CPPIB Could Cash Out on McGraw-Hill Building

The Canada Pension Plan Investment Board (CPPIB) is contemplating selling its interest in a Manhattan 51-story office property at 1221 Sixth Avenue. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


GIC to Become Minority Owner in the Biggest U.S. Indie Electric Trans Company

On February 9, 2016, Canada-based Fortis Inc., an international diversified electric utility holding company, had announced they planned to acquire Michigan-based ITC Holdings Corporation, the largest independent electric transmission company, in a transaction valued at approximately US$ 11.3 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. […]


Follow the Money – Episode 7

This podcast covers activities during mid-April 2016. The big story is change in CalPERS’ real assets program and the impact it will have on the industry. Other topics covered include hedge funds, Saudi Arabia’s Public Investment Fund and deal activity. Follow the Money Show is available on asset.tv on the Asset Owner Channel. EPISODE 7 […]


REVEALED: CalPERS New Real Assets Program

The California Public Employees’ Retirement System (CalPERS) adopted a new strategic plan for its massive real assets program. CalPERS is a major institutional investor in real estate investing in core funds, joint ventures and co-investing in major properties. CalPERS is seeking to reign in risk, while reducing complexity and costs. Institutional investors are facing a […]


Sovereign Wealth Funds Keeping Pace in Direct Real Estate

When it comes to directly investing into real estate, sovereign wealth funds are keeping on pace. For example, for the first quarter of 2015, according to data from the Sovereign Wealth Fund Transaction Database, sovereign investors directly invested US$ 7.7 billion. For the first quarter of 2016, wealth funds directly invested US$ 7.56 billion (results […]


GIC Sees Opportunity in Indonesian Logistics

Singapore’s GIC Private Limited has been a major institutional investor in Asian logistic properties across Asia, in countries such as China and Japan. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


london real estate

SWFI First Read, April 13, 2016

Strathclyde Pension Fund Acquires Brighton Mixed-Use Building The Strathclyde Pension Fund acquired a mixed use property in Brighton for £17 million in a private transaction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CIC Invests in Landmark Chicago Tower

The 52-storey tower at 333 North Wabash Avenue in Chicago, known as AMA Plaza, has been sold to a non-U.S. buyer. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


GIC Buys Stake in CeGeREAL

Singapore’s GIC Private Limited, through a sovereign wealth enterprise (SWE), purchased a 25% stake in Paris-based CeGeREAL, a real estate investment trust, from Northwood Investors LLC. Northwood Investors is a privately-held real estate investment advisor that was founded in 2006 by John Z. Kukral, the former President and CEO of Blackstone Real Estate Advisors. [ […]


CPPIB Inks Deal to Buy Stake in Glencore Ag Unit

The Canada Pension Plan Investment Board (CPPIB) announced that one of its wholly owned subsidiaries has entered into an agreement to purchase 40% of Glencore Agricultural Products (Glencore Agri) from Glencore plc for US$ 2.5 billion payable in cash upon closing. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to […]


SWFI First Read, April 6, 2016

Societe Generale Seeks to Cut 128 Jobs in Banking and Investor Solutions Division French bank Societe Generale may cut 128 jobs in its Global Banking & Investor Solutions division, according to the CGT union. The layoffs are part of a cost-saving plan that was announced by Societe Generale in 2015. Citi Wins Custodial Mandate from […]


Norway SWF to Boost Allocation to Real Estate to 7%

Norway’s Ministry of Finance plans to modify Norway’s Government Pension Fund Global (GPFG) upper limit to real estate allocation from 5% to 7%. In addition, the Finance Ministry is not prepared to permit the GPFG to invest in unlisted infrastructure. Institutional Investor Profile of Norway’s SWF [ Content protected for Sovereign Wealth Fund Institute Standard […]


london

KWSP Buys Mega UK Property Portfolio

Malaysia’s Employees Provident Fund (EPF), also known as KWSP, acquired a portfolio of U.K. office and logistics properties called Project Phoenix. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


roads

APG, Delancey and Qatari Diar Form Venture on Private Rented Sector

APG Asset Management is partnering with Qatari Diar Real Estate Investment Co., a sovereign wealth enterprise of the Qatar Investment Authority (QIA) and Delancey’s DV4 client fund for a £1.4 billion (US$ 2 billion) joint venture in the U.K. private rented market. The joint venture will be funded by pooling two major assets together. [ […]


Friday SWFI News Roundup, March 18, 2016

Redington Promotes Sheth to CEO Redington, an investment consulting firm, named Mitesh Sheth as chief executive officer effective April 5, 2016. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]