real assets

Kuwait Investment Authority Buys Remaining Share of Sudan Hotel Investment

Sudan, once known as the bread basket of the Arab world, is keen on promoting its fledgling tourism industry, despite current sanctions by the United States. On March 26, 2015, the Kuwait Investment Authority (KIA) signed a deal to acquire full ownership in a Sudan real estate company. [ Content protected for Sovereign Wealth Fund [...]


GIC Goodman Joint Venture Acquire Wynyard Office Building

Wynyard Precinct Holdings, the joint venture unit created by Singapore’s GIC Private Limited and Goodman Property Trust, bought an office tower from Flecther Building Ltd., a subsidiary of Fletcher Construction, for NZ$ 86.2 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Norway’s Sovereign Wealth Fund Invests in Google DC Property

Norges Bank Investment Management (NBIM), the manager of Norway’s massive sovereign wealth fund, invested with TIAA-CREF in a Washington D.C. office property. The deal values the property at US$ 307 million. NBIM bought a 49.9% stake in the building which touts Google as a key tenant for US$ 60.8 million. The property asset is encumbered [...]


london

British Land and GIC Form Broadgate REIT

British Land and Singapore sovereign wealth fund GIC have formed Broadgate REIT Limited as the new holding company for their joint venture. The entity formation does not modify any party’s economic interest in Broadgate, a massive office and retail complex at the core of the City of London. British Land and GIC are 50:50 owners [...]


Exeter Property Group and GIC Form European Logistics Partnership

Singapore’s GIC Private Limited, one of the country’s sovereign wealth funds, entered into a partnership with Exeter Property Group. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


superannuation

Future Fund Promotes Wendy Norris to be Head of Infrastructure and Timberland

Australia’s Future Fund has appointed Wendy Norris to be head of infrastructure and timberland. She will assume command of the Future Fund’s A$ 8 billion infrastructure and timberland portfolio. Norris was a director in the sovereign wealth fund’s infrastructure and timberland team since 2010. Norris fills Raphael Arndt’s position who was promoted to chief investment [...]


China Sovereign Wealth Fund’s Second Take on Italian Infrastructure

The China Investment Corporation (CIC) is taking a second look in possibly investing in a fund managed by Il Fondo Italiano per le Infrastrutture (F2i). F2i is looking to raise a second infrastructure fund, hoping to attract more foreign institutional investors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to [...]


blackstone

Sovereign Wealth Centers on Tourism – Center Parcs

Sovereign wealth funds from Singapore and Abu Dhabi are potential institutional investor bidders looking at UK holiday village manager Center Parcs. Center Parcs UK Group Plc was bought by private equity giant Blackstone Group back in March 2006 for £205.4 million (US$ 357 million). Blackstone bought Center Parcs in a moment of distress as the [...]


Group Led by Borealis Infrastructure Wins, Acquires Fortum Distribution AB

An investment group led by Borealis Infrastructure Management Inc., the infrastructure arm of OMERS, signed a deal on March 13, 2015 to buy 100% of the shares of Fortum Distribution AB, which operates and owns Fortum’s electricity distribution business in Sweden. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to [...]


AustralianSuper Buys Stake in Biggest Open-Air Mall

Arising from Chapter 11 bankruptcy nearly five years ago, General Growth Properties Inc., a major player in the realm of mall asset management, sold a 25% interest in Honolulu’s Ala Moana Center for US$ 1.37 billion to AustralianSuper, a massive superannuation institutional investor. The deal values Ala Moana Center at approximately US$ 5.5 billion. General [...]


london real estate

CPPIB Buys UK Student Housing Portfolio for £1.1 Billion

The Canada Pension Plan Investment Board (CPPIB) has joined the ranks of public institutional investors and sovereign wealth funds such as Singapore’s GIC Private Limited in investing in U.K. student housing. CPPIB has acquired a 100% interest in U.K. student accommodation portfolio operating under the Liberty Living brand from the Brandeaux Student Accommodation Fund for [...]


CDPQ and Hermes to Buy 40% Stake in Eurostar from UK Treasury

The UK Treasury is selling its 40% stake in Eurostar, a high-speed railway service connecting London with Paris and Brussels, to Patina Rail LLP for £757.1 million. Patina Rail LLP is a consortium made up of Canada pension Caisse de Depot et Placement du Quebec (CDPQ) and the UK’s Hermes Infrastructure, a unit of Hermes [...]


ICD and Brookfield to Construct $1 Billion Financial Center Project in Dubai

Increasingly, European and Asian financial institutions have a desire to get access to the economic growth story in Africa and the Gulf region. Some of the largest Gulf cities have formed special zones to lure investors and businesses. Jumping on the newly-found demand trend are Jumping on the trend are real estate developers and institutional [...]


london

ADIA Throws Hat Into Maybourne Hotel Group

Abu Dhabi Investment Authority (ADIA), a major sovereign wealth fund institutional investor in hotels globally, is gunning for a £1.6 billion acquisition of Maybourne Hotel Group which is owned by holding company Coroin Ltd. Maybourne Hotel Group owns luxury hotels Claridge’s, the Berkeley and the Connaught in London. ADIA currently owns the 5-star hotel The [...]


Korea’s NPS to Allocate 2 Plus Billion into Hedge Funds

After carefully studying hedge funds, Korea’s National Pension Service (NPS) plans to allocate 2.5 trillion won (US$ 2.27 billion) into the asset class. Hedge funds are looking more offshore to raise money, as a number of large U.S. pensions and European pensions have rebuffed them. The allocations will most likely occur near the end of [...]


Qatar Sovereign Fund Moves in on Milan Business District

Sovereign wealth funds are breathing life into Italy – at least into office real estate. Hines Italia SGR, part of Houston-based Hines, announced that Qatar Investment Authority (QIA), through Qatar Holding LLC, has taken a 100% interest in the Porta Nuova district in Milan. The QIA had a 40% stake in the massive mixed-use development [...]


SWFI Real Estate Roundabout – February 26, 2015

Malaysia’s Employees Provident Fund (EPF), also known as KWSP, has allocated capital to Japanese logistics – following the path of several asset owners such as Singapore’s GIC Private Limited. KWSP acquired 5 properties from Mitsubishi Corporation for ¥14 billion (US$ 117.8 million). Mitsubishi Corporation will manage the property for KWSP under its Diamond Realty Management [...]


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 [...]


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. [...]